Click Here

REALTOR® Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  December 8, 2010  |   Fannie, Freddie Pressed to Reduce Mortgages
The Obama administration is pressuring Fannie Mae and Freddie Mac to write down "underwater" home loans through fledgling FHA and Treasury programs.

The aim of the initiatives is to reduce loan balances, which Fannie Mae and Freddie Mac have been reluctant to do because it would deepen their losses.

However, the Obama administration wants to reduce the threat to the housing market posed by home owners believed to be at risk of default should their personal finances or home prices worsen.

Source: Wall Street Journal, Nick Timiraos, Alan Zibel (12/08/10)

© Copyright 2010 Information Inc.

Browse all of today's news
E-mail this page to a friend
Give us feedback

Search news
Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!