Monday, August 15, 2011

Obomba to Preserve Gov't Role in Mortgage Mkt.

News Alert: Obama plans to preserve major government role in mortgage market

August 15, 2011 9:01:13 PM


President Obama has concluded that the federal government must continue to play a significant role in the nation’s mortgage market, a milestone in the effort to craft a new housing policy from the wreckage of the mortgage meltdown. According to people familiar with the matter, a proposal now being developed by the administration could preserve, though with significant new constraints, mortgage companies Fannie Mae and Freddie Mac, which some critics say contributed to the financial crisis.

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