3 Stocks Primed for Fed Action on Housing

NEW YORK ( TheStreet) -- As the Federal Open Market Committee prepares to finish up its first meeting for the year today, rumors abound about a third round of quantitative easing to stimulate housing market recovery.

Investors will expect more information that may reveal the Fed's intentions after a move toward greater transparency earlier this month promised revelations of "qualitative information" about the Fed's balance sheet.

Fed Chairman Ben Bernanke's concern over a housing market that continues to languish was highlighted in a recent white paper sent to Congress. In it, Bernanke raised speculation that a third round of easing, or QE3, may target ramping up that market, buying mortgage-backed securities and bringing more reasonable underwriting and appraisal practices than today's tough standards.

We asked Brian Kelly, co-founder of Shelter Harbor Capital, what stocks might benefit from Fed steps to help the housing market. Here are three stocks he said are poised to benefit:

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