Fannie & Freddie To Concentrate On Helping Homeowners Stay In Their Homes
It seems they are attempting to care less about their balance sheet and more about the homeowner, or so they say. Again, I am not a pessimist but I hear the stories all the time about people not getting any help. My comments aren’t based on these articles that I read and write about. I hope I am wrong about this.
The article has a scary statistic in that 9 out of 10 mortgages are funded by Fannie, Freddie, and the government. WOW!
Assistant Treasury Secretary Michael Barr says that because Fannie and Freddie are “owned by the taxpayers in the middle of the biggest housing crisis in 80 years,” it would be unrealistic to expect the companies wouldn’t be used to help stabilize the market. He says the administration’s actions have been “prudent” and “consistent with taxpayer protection.”