Emergency Economic Stabilization Act

For FHASecure, a Quiet End Nears 

A Bush administration program originally designed as a refinancing option for severely delinquent subprime mortgage borrowers is likely to meet a quiet end as 2008 ticks off its remaining days, a source at the U.S. Department of Housing and Urban Development confirmed to HousingWire late Tuesday. The once highly-hyped program never really lived up to its original billing, and eventually became a catch-all for refinancing any “at-risk” borrowers as the mortgage crisis outgrew its original boundaries.