history: “President Trump, it’s Time” - 04/05/19 07:51 AM
 “President Trump, it’s Time”
 
https://www.whitehouse.gov/presidential-actions/memorandum-federal-housing-finance-reform/
 
 
So, what’s this all about? In 2008 during the financial crisis Fannie Mae and Freddie Mac had to be bailed out. In excess of 90% of conventional mortgages are purchased by these two companies. At the time these were privately held companies, but that all changed.
 
As part of the bailout 80% of the ownership was transferred to the Federal Government. Unfortunately, the majority of stock holders lost most if not all they had invested. The two companies continued to buy mortgages that were originated by banks, credit unions, mortgage lenders and mortgage bankers.
 
A little history since 2008; both … (3 comments)

 
Joe  Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) Rainmaker large

Joe Petrowsky

Your Mortgage Consultant for Life

Manchester, CT

More about me…

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709

Address: 110 Main St., Manchester, CT, 06042

Office: 860 647-7701 x116

Mobile: 860 836-9294

Email Me

Subscribe to my blog via email:
Enter your email address: Delivered by FeedBurner


Listings

Links

Archives

RSS 2.0 Feed for this blog