Friday!  Finally!  Hope everyone had a fantastic week.  Below is an update on Fannie Mae and Freddie Mac.    

Fannie Mae and Freddie Mac could have a ton more to finance purchases as of Wednesday on the amount of mortgages the government sponsored lenders and companies can hold on their books.

The restrictions were lifted despite Fannie Mae's huge quarterly loss nearly three and a hlaf billion as defaults and foreclosures sky rocketed. They also stated there could be a significant worsening in the real estate market.

Fannie Mae and Freddie Mac have both regulated their restrictions on their combined nearly one and a half trillion portfolios to give them the ability to buy more purchase mortgages from lenders.

Fannie Mae's chief executive stated Wednesday that the company will be very conservative in using its capital to purchase mortgages as it wants to limit theri losses.

Make your day a great one!