Here is an interesting quote from a recent speech given by President Bush. He is 100% behind beefing up the FHA program. As soon as the reform bill makes it through the senate we can expect a quick signing on the bill.
The government can help. The Federal Housing Administration has got the capacity to help refinance homes, and they need to expand the authority of the FHA to do it. And Congress needs to get that bill passed. I mean, this will be a positive step toward helping people stay in homes. And that’s what we want to do. See, you notice, I’m not saying we’re going to bail out the lenders — we’re going to help the individual person be able to keep their home. It’s in the interest of the country we do that.