Posted To: MND NewsWire

Housing featured prominently in President Obama's State of the Union speech on Tuesday night. The President made two specific proposals, one to deal with the ghosts of housing past, the other to provide expanded credit to homeowners. In contrast to the settlement with banks that Obama was widely rumored to announce at the State of the Union, he instead directed Attorney General Eric Holder to create a new office on Mortgage Origination and Securitization Abuses . The President said, "The American people deserve a robust and comprehensive investigation into the global financial meltdown to ensure nothing like it ever happens again." According to the Huffington Post, the new office will take a three-pronged approach to the issue, holding financial institutions accountable for abuses, compensating...(read more)