That's about the only good news that I can find in the latest figures.

Freddie Mac says it does not need new federal government subsidies.

The Obama administration is taking its sweet time reforming these drunk on subsidies companies.

Read more on Freddie Mac's Losses Decline…

U.S. Treasury secretary Timothy Geitner says that the Obama administration will wait until 2011 to unveil a plan to reform the GSEs Fannie Mae and Freddie Mac.

We're still in the middle of a housing crisis and the Obama administration does not want to cut out subsidies at this vulnerable time.

Read more on Reforming Fannie Mae, Freddie Mac…

Because they follow the dictates of politicians.

Politicians, be they Republicans or Democrats, saw increased home ownership as an absolute good. They ended up sacrificing our entire economy for this false god.

Read more on Why Fannie Mae, Freddie Mac Went Broke…

Government Sponsored Enterprises such as Fannie Mae and Freddie Mac are proven losers.

The federal government is spending hundreds of billions of dollars to bail them out.

The politicians pushed Fannie Mae and Freddie Mac to buy all sorts of risky mortgages and this government intervention was a key reason for our housing crash.

Read more on GSEs Such As Fannie Mae, Freddie Mac, Are Proven Losers…

The government pushed Fannie and Freddie to buy $1.7 trillion worth of risky mortgage assets.

Priming the housing market pump?

Well, it flooded it. Why is the government subsidizing the buying of toxic mortgages?

Read more on U.S. Government To Put $400 Billion Into Fannie Mae, Freddie Mac…

Dennis Prager talked to economist Tom Sowell, 79, on Dec. 15, 2009 about his new book “The Housing Boom and Bust”.

Dennis: “Who caused this bust?”

Tom: “Government. The people who were forced directly to make the bad loans under the Community Reinvestment Act (1977) and other legislation following it don’t constitute the majority of people who lend, that is true, but it is also true that about a decade ago, there was what was called a ‘voluntary agreement’ by those lenders not covered by the Community Reinvestment Act to in effect follow the same guidelines with the threat over them being that they would be prosecuted for discrimination if they didn’t. This prosecution…would be imposed if you were a lender who refused to lend on a house worth less than a $60,000 since low-income minorities are more likely to buy this kind of house and would be a ‘disparate impact.’”

Read more on Tom Sowell Discusses His New Book – 'The Housing Boom and Bust'…

Tens of thousands of people remain in homes that are underwater, that is, their mortgage is more than their home is worth. They're drowning. Yet they stay. Why?

It depends on how much people owe versus how much the home is worth.

Read more on When To Give Up Your Home To The Bank…

It has already received a $51 billion bailout (a similar size to what Fannie Mae received).

Yeah, and its executives received payouts over a million dollars.

Great. I am glad our money went to a good cause.

Read more on Freddie Mac Loses More Money In Third Quarter…

The current system required by Fannie Mae and Freddie Mac does not seem to be working too well.

Why not? It tends to low-ball home values, leading to fewer home sales and higher consumer fees.

Read more on How Do You Properly Evaluate Home Values?…

You may have an 800 credit score and documentable income, but a minor dispute with your credit card company can stop your refinance application.

Fannie Mae and Freddie Mac rejects refinance applications where the borrower has disputed a credit card purchase.

Read more on Disputing With Your Credit Card Company May Kill Your Refi Application…