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mortgage industry: FannieMae FreddieMac Federal Bailout - Federal Takeover - What is the impact of federal control over mortgage lending? - 09/06/08 03:01 PM
The mortgage news is breaking fast about the federal bailout and take over of Fannie Mae and Freddie Mac. Top Fannie and Freddie executives were summoned for lengthy meetings late Friday. The reports are that the top executives are being fired. Members of Congress have been asked for contact phone numbers to enable quick briefing over the weekend.
The Federal government is evidently moving to take over conventional mortgage lending this weekend.  The term that is being used is conservatorship. This is basically a guardianship, where financial and other decisions are made for the entity by a responsible party.
In this case … (3 comments)

mortgage industry: Housing Bill is law - President signs massive housing bill in a quiet ceremony - 07/30/08 07:17 AM
The most sweeping mortgage bill in decades has just been signed in a brief ceremony, "without fanfare". This was reported this morning by NPR.
An measure of how good this bill is can be made by the almost secretive signing ceremony. It was done early in the morning Eastern time.
It sounds good in a news clip.
"stabilizes volatile markets"
"relief for struggling homeowners"
"lifeline to troubled mortgage companies Fannie Mae and Freddie Mac'
I really think if it did all this well there would have been much more emphasis to the bill signing. I think our boys and girls in Washington … (22 comments)

 
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Richard Smith FHA VA Rural Development in TN GA

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