Changing the way consumers view home loans
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Month: October 2011

14 Oct

Creative planning but …

There are new developments between the Obama administration and a federal housing regulators who are considering a program to draw private investment back into the government-dominated residential mortgage market by having Fannie Mae and Freddie Mac sell slices of securities that wouldn't carry a federal guarantee but would pay a higher interest rate than current mortgage-backed bonds.No decisions have been made, but officials believe a small pilot program could be rolled out sometime next year, according to people familiar with the matter.Officials see it as a step toward reducing the $10.4 trillion U.S. mortgage market's dependence on government-controlled mortgage companies...