freddie mac: Fannie and Freddie to be abolished? - 01/26/10 02:45 AM
Obviously something needs to be done with these 2 mortgage giants.  Fannie Mae and Freddie Mac have been under the receivership of the federal government since Fall of 2008.  Odds are high that either Fannie or Freddie own the 1st mortgage on your home right now. 
Congressman Barney Frank, chairman of the House Financial Services Committee, is calling for the whole secondary mortgage market system to be scrapped and to come up with a new one.  USA Today article.
To me the Fannie / Freddie system seemed to work well until all these non-conforming and sub-prime loans came into the picture.  … (6 comments)

freddie mac: Federal bailout of Fannie Mae and Freddie Mac - 09/08/08 02:28 AM
This is big news to anyone in the real estate or mortgage industry.   These 2 government created entities own about 50% of ALL mortgages in the United States.  We are talking about some $6 trillion in mortgages (that's 6 million * 1 million which is a heck of a lot of dollars).
    These entities own most of the conventional mortgages issued by banks, credit unions, and mortgage companies throughout the 50 states.  Most likely if you have a mortgage on your house, then Fannie Mae or Freddie Mac is the one who ultimately receives the final payment from your mortgage servicer.  When you obtain … (10 comments)

 
Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.)

Rob Arnold

Metro Orlando Full Service - Investor Friendly & F

Altamonte Springs, FL

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Sand Dollar Realty Group, Inc.

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