Fix Home Lending Before the Next Bubble

Jan. 29 (Bloomberg) -- It’s odd that President Barack Obamadidn’t mention housing in his second inaugural address. Afterall, he spent his first term in the shadow of a housingmeltdown, and remaking federal housing policy remains a centralpiece of unfinished business.

Let’s hope that Obama tells us in his State of the Unionspeech what his plans are for Fannie Mae, the Federal NationalMortgage Association, and Freddie Mac, the Federal Home LoanMortgage Corp. The Federal Housing Administration seems headedfor a multibillion-dollar bailout.