Admin could faze out Fannie and Freddie

By
Real Estate Agent with Downing-Frye Realty, Inc - the best in SW Florida


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.

moneyGetting 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.

Posted by

Christine R. Sutherland, REALTOR®
Downing-Frye Realty, Inc.  Naples & Bonita Springs, FLORIDA
Phone:          239-465-4525

Website:       http://WonderfulNaples.com
Email:           NaplesNaples@gmail.com

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Ambassador
342,032
Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Realtor, Santa Fe NM |CNE CRS RSPS | 505-660-4541

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 10:30 PM #1
Rainmaker
182,958
Brenda Whitman
CENTURY 21 Real Estate Center, Inc., Laramie, Wyoming - Laramie, WY
Associate Broker, 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 10:37 PM #2
Rainmaker
254,308
Connie Goodrich
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 11:02 PM #3
Rainer
101,578
Keith Vermilyea
Silvercreek Realty Group - 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 11:42 PM #4
Rainmaker
1,286,500
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Christine - Thank you for sharing very good blog about the administration could faze out FNMA and Freddie Mac. Excellent information.

Feb 10, 2011 12:08 AM #5
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Rainer
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Christine R. Sutherland

REALTOR - CIPS, TRC, e-Pro
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