HUD Issues Long Delayed RESPA Proposed Rule to Simplify Mortgage Disclosures.

In advance of a presidential speech later today that is expected to touch upon additional housing related actions, HUD has issued long delayed proposed changes to RESPA (The Real Estate Settlement Procedures Act).

You can find the proposed HUD RESPA rule HERE; a brief AP news story about the rule is HERE.

Bush Still Says FHA and GSE Reforms Necessary.

The President said at the close of his opening remarks at his press conference today

"Congress should move ahead with responsible legislation to modernize the Federal Housing Administration and Fannie Mae and Freddie Mac. By taking these steps we can help struggling homeowners and help our economy weather the difficult time in the housing market."

This immediately followed a veto threat to the bankruptcy legislation being discussed in the Senate.

Full press conference transcript is available HERE.

CROSS POST: News Flash for President, Earmark DOLLARS have Declined by 25%-36%.

From Oregon Earmarks Blog HERE.

Pictures /Details of Presidential Candidates Homes.

Not a "fixer upper' in the bunch! Click on one of the pictures for details HERE, courtesy of Mother Jones magazine.

Center for Budget and Policy Priorities (CBPP) Take on Approved HUD Budget.

HERE, as expected to be signed by the President.

Web Video: Bush Sub Prime Announcement 12/06/07.

White House and Adminstration Busy on Housing Front.

President Bush is scheduled to made a statement this morning on Administration efforts to get a voluntary agreement on teaser mortgage resets for SOME sub prime borrowers. No details yet available on White House website; Bloomberg story HERE says his statement will be at 10:40 AM.

Immediately afterwards, Treasury Secretary Paulson and HUD Secretary Jackson will be hosting a press event, at 10:45 AM West Coast time, to describe the administrations sub prime teaser mortgage reset efforts. A technical briefing afterward at 11:35 AM does NOT allow cameras. Press Advisory is HERE.

On Friday, Treasury Secretary Paulson is hosting an Ask the White House web session at 10 AM West Coast Time. The White House website to follow the transcript of the live chat is HERE.