According to a report in the Washington Post, President Obama's administration is worried that the housing recovery is leaving too many people, including young people, behind.
No down payment mortgages died in a wave of foreclosures — for nearly all Americans. But now they’re crawling out of the grave, for the wealthy, at least.
Jumbo mortgages, too large to be backed by Fannie Mae or Freddie Mac, were hard to come by after the financial crisis. But in expensive real-estate markets like San Francisco, they're coming back.
Federal prosecutors in New York are accusing the bank of defrauding the government by rushing home loans through the approval process, then selling them to Fannie Mae and Freddie Mac.
