Government Takes Control of Fannie, Freddie

By
Home Inspector with National Mortgage Field Services

Today the federal government has taken control of mortgage giants Fannie Mae and Freddie Mac. The Treasury Secretary said Fannie and Freddie posed a systemic risk to the economic health of the country and "cannot continue in their current form." Both of the top executives at both companies have been dismissed, and thus the recently formed Federal Housing Finance Agency (FHFA) has been appointed conservator of both of the GSEs, and is being held accountable for reorganizing and rehabilitating their business affairs.

Comments (6)

Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Paul;

Great news for the Real Estate Market, I do hope we see some positive results.

Sep 07, 2008 02:20 PM
Aaron Cullen
Brokers Inc. Residential Real estate - Folsom, CA
Folsom, El Dorado Hills & Sacramento Real Estate &

It was only a matter of time....

Sep 07, 2008 02:20 PM
Robert Huntsinger
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount

Hey Paul,

Yup I hope it creates some new markets so that they are not the only game in town.

Take care!

RJH

Sep 07, 2008 02:38 PM
Debbie Durkee
RE/MAX T-town - Tulsa, OK
ALC, CRS -- Land & Country Estates near Tulsa

Let's just sit back and watch our government get bigger and bigger.  I suppose something had to be done, but it worries me that we just keep looking to Big Brother Uncle Sam to bail us out. 

There's got to be a better way...

Sep 07, 2008 02:56 PM
Kelly Willey
Long and Foster BEL AIR MARYLAND - Bel Air, MD
Short Sale Agent - Harford County Maryland Real Estate

This should be great news for real estate and the associated markets...Kelly

Sep 08, 2008 12:26 PM
Terry Miller
Miller Homes Group - Tyler, TX
Miller Homes Group and Tyler Apartment Locator

What a wonderful post. Bless you and yours this holiday season and have a happy NEW YEAR.

Terry Miller

Dec 25, 2008 12:49 AM

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