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FHA Seen Finishing Fiscal Year 2010 in Black

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WASHINGTON-The Federal Housing Administration single-family program will not need a congressional appropriation to continue operating in fiscal year 2010 and it should be able to keep its head above water throughout this crisis, according to the new housing secretary.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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