The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- Finally, some sunshine in housing. On Nov. 9, Ginnie Mae, a government corporation within the U.S. Housing and Urban Development (HUD), reported record earnings of $1.2 billion for the fiscal year ending Sept. 30. Ginnie Mae said it financed nearly 60% of all U.S. home purchases during the year. Credit was given to the FHA's increasing role; it insured about half of Ginnie Mae's loans.
Obama's Mortgage Plan Adds to Housing Mess
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