WASHINGTON – Feb. 9, 2011 – A White Paper is expected to be released on Friday by President Obama with plans for Fannie Mae and Freddie Mac. White House officials have indicated that the Goverment will cease involvement in the two companies, but this is not going to happen fast.
Getting rid of Fannie Mae and Freddie would make homeownership more difficult as less mortgages may be issued.
Florida Realtors explains that the White Paper will report “three options:
1. No government role beyond oversight through existing federal agencies.
2. A Government backstop role for mortgages during times of crisis only.
3. Government involvement at all times.”
Read the full article here.
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