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...unexpected losses in its $685 billion portfolio. That paltry level of reserve funding, less than is mandated by the government, has left some members of Congress in a twitchy mood and some onlookers to wonder if the FHA will eventually need a massive infusion of cash. (See high-end homes that won't sell...
Still, the FHA is facing the same economic headwinds as every other mortgage-industry player. As unemployment rises, so do mortgage delinquencies. As of the end of June, nearly 8% of FHA loans were seriously delinquent or in foreclosure, according to the Mortgage Bankers Association - mirroring the rate for mortgages overall. Nearly 17% of agency loans were at least 30 days behind. (See 10 big recession surprises...
...arousing Will’s suspicions, to which Sue responds, “You don’t know the first thing about me.” Turns out Sue has a heart – and an adoring older sister Jean, who also has Down Syndrome. In the end, the coach decides to one-up Will’s diversity efforts from off-screen by buying the school a suite of handicapable ramps. Nice...
...often, however, he writes in a voice so chronically self-indulgent that by the end of this monumental poem even its most grandiose aural gestures are reduced to ambient noise. Alexander has chosen a deeply unusual setting for his epic: both Sri Lanka and old-fashioned nautical adventuring are idiosyncratic interests for an American poet. The island, despite its physical loveliness and tragic recent history, is yet to inspire a fitting work of poetry or prose, and for all its ambition, “The Sri Lankan Loxodrome,” does not do justice to its subject...
...profile aide to President Obama will soon be managing the public face of his Administration. Dan Pfeiffer was named the next White House communications director on Nov. 10, following the announcement that current communications chief Anita Dunn will step down by the end of the year. At 33, Pfeiffer has already worked for half-a-dozen prominent Democrats. He will be Obama's third communications director, following Ellen Moran (now a Commerce Department official) and Dunn. Though not a familiar name or face, Pfeiffer has been an important presence in Obama's inner circle since the early days...