| Feb 28, 2012 5:05PM In broad ranging testimony before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday, Housing and Urban Development (HUD) Secretary Shaun Donovan touched on the substantial risks confronting FHA and its Mutual Mortgage Insurance (MMI) Fund in the coming years and the potential for returning the Fund to solvency by 2015. The MMI Fund, Donovan said, has seen high numbers of claims from originations prior to 2009 and this has severely impacted the health of the fund. Through systematic... Feb 28, 2012 1:11PM Federal Reserve Governor Elizabeth A. Duke told members of the Senate Committee on Banking, Housing, and Urban Affairs that "the failure of the housing market to respond to lower interest rates as vigorously as it has in the past indicates that factors other than financial conditions may be restraining improvement in mortgage credit and housing market conditions and thus impeding the economic recovery." Six years after house prices first started to decline and more than two years after the start...
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