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.
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM
Thank you for the heads up on what could be happening next in our industry. Hopefully, NAR will take note of your advance notice and be prepared to comment and respond.
Feb 09, 2011 02:30 PM
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming
Thanks for the link to the original article, it wasn't as lengthy as I feared! All I can say is that I don't envy the people who have to try to get this all "untangled"!
Feb 09, 2011 02:37 PM
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas
Talk is easy but they find that action on this will be much harder! Thanks for visiting my post and leaving a comment!
Feb 09, 2011 03:02 PM
Boise Homes Realty brokered by Found It LLC - Boise, ID
Christine ~ thanks for the heads up on what's coming our way next. Government guarantees seem to encourage bad underwriting that the taxpayers can ill afford so change needs to happen...
Feb 09, 2011 03:42 PM
Glendale, CA
Christine - Thank you for sharing very good blog about the administration could faze out FNMA and Freddie Mac. Excellent information.
Feb 09, 2011 04:08 PM
Rainer
70,999
70,999
Christine R. Sutherland
REALTOR - RSPS, e-Pro, TRC
Comments(5)