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Daily Real Estate News  |  May 25, 2010  |   Housing Still Lacks Stable Funding
There still isn’t enough private capital in the home loan market – a sign of a “very sick system,” said Federal Housing Administration Commissioner David Stevens, who spoke to the Mortgage Bankers Association at their convention on Monday.

Without a 20 percent down payment, "it's very difficult to find a solution with private capital," Stevens said. "We need to find a way to bring private capital back to the market."

Stevens called on banks to provide more remedies for responsible borrowers who are underwater, which he said would go a long way toward stabilizing the market.

Source: Reuters News (05/24/2010)

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