Total Bankruptcy

United States Housing and Urban Development (HUD) Secretary Alphonso Jackson said we must increase “transparency and honesty for lending on all levels and by all lenders” at a lending industry conference. Jackson said that the Federal Housing Administration needs to be modernized as an alternative to predatory lending practices --- “We must restore confidence in lending practices, top to bottom. We can begin by exposing and ending predatory lending. There is no place for it in the housing industry or as an investment practice. Predatory lenders and mortgage fraud harm everyone in the home purchasing process, making it all the more necessary that we offer a safe FHA alternative.”

At the conference, Secretary Jackson encouraged Congress to assist him to combat predatory lending by passing legislation to modernize the FHA. Last year, the Bush Administration proposed a set of changes to the FHA program that would expand its reach by eliminating “outdated” downpayment requirements, customizing mortgage premiums for each homebuyer according to risk, and raising loan limits across the country.

I would like to the term"ultra vires" explained to me briefly,please.

and in the state of washington, is there a statute of limitations on collecting a debt?

thank you