Obama administration to debut monthly scorecard on housing market

The Obama administration will unveil a new metric on Monday to measure the health of the U.S. housing market.

Housing and Urban Development (HUD) Secretary Shaun Donovan will debut the administration's "Monthly Housing Scorecard," a measure to gauge how well the housing market is recovering.

The scorecard, according to a Treasury release, "will incorporate key housing market indicators and highlight the Administration’s unprecedented housing recovery efforts, including borrowers assisted through the Federal Housing Administration (FHA) and the Home Affordable Modification Program (HAMP)."

The measure comes as the U.S. begins to emerge from a financial crisis and recession driven in large part by subprime loans, and the securitization of those loans.

The scorecard also comes as housing starts fell 10 percent in April, a signal that the housing market might not be recovering as quickly as the Obama administration might like.

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