Professor Kurt Eggert was quoted in an article in Contra Costa Times, entitled, “$300B FHA rescue funds available to homeowners – with a hitch.”  Professor Eggert, a former member of the Federal Reserve Board’s Consumer Advisory Council, said that the FHA program’s challenge is to “build in enough motivation for the financial industry to play along They have to give lenders something so they’ll do the FHA refinances, and so mortgage brokers will handle it. He states, “The challenge is, how much do you give them? Certainly we don’t want to give (loan officers and brokers) so much where we have a repeat of the abuses of the past, where borrowers were jammed into loans that weren’t appropriate for them. I don’t know if they’ve struck that balance.” Read article…