Word: mortgagees
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If the bottom lines of Fannie and Freddie are any guide, the government seems to be doing a less than stellar job with the two mortgage-financing giants. In the first three months of this year alone, Fannie and Freddie lost a combined $33 billion; the government has pumped $85...
Now that the White House has laid out its plans for financial regulation, figuring out what to do with Fannie and Freddie may be the next task at hand. This week President Obama said he plans to have a proposal on what to do with the mortgage insurers by early...
That ultimately left the job of turning around the two troubled giants to Lockhart, who was formerly the chief operating officer of the Social Security Administration. He says he meets with senior executives of both companies once a week; his staff interacts with Fannie and Freddie every day. Lockhart believes...
Still, for the long haul, Lockhart thinks it would be a bad move to permanently nationalize the two firms. Instead, he prefers returning them to the private market, perhaps in the form of something close to a public utility that would charge a fee to homeowners or lenders to subsidize...
Congressman Paul Kanjorski, a Democrat from Pennsylvania who heads up the House of Representatives subcommittee that oversees Fannie and Freddie, backs a plan that would break up the firms into as many as 15 smaller companies. As with public utilities, he thinks the government could regulate what these firms could...