Fannie Mae Preps Investors for Reform. Book of Business Reflects Tight Credit Conditions

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Fannie Mae Preps Investors for Reform. Book of Business Reflects Tight Credit Conditions

Posted To: mnd newsWireIn the wake of the passage of Wall Street Reform, which many opponents have criticized Capitol Hill for failing to deal with the future of Fannie Mae and Freddie Mac, the Obama Administration is beginning to present the broad outlines of how the future of the GSEs will be determined. In a letter released Tuesday , David H. Stevens, acting commisioner of the FHA, said that the question of reforming the GSEs is "not if, but when." The Obama administration, he said, has made it clear from the beginning that the current structure of the government's role in the housing finance market is unsustainable and unacceptable, but winding down Freddie and Fannie abruptly would destabilize an already fragile housing industry and put the loans already on the books of these institutions at even...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

http://www.mortgagenewsdaily.com/07292010_gses_financial_reform.asp