Fannie, Freddie to Create Joint Firm as Reported by the Wall Street Journal

Freddie Mac

Freddie Mac (Photo credit: Wikipedia)

BY NICK TIMIRAOS of The WSJ Reports;

The regulator overseeing Fannie Mae and Freddie Mac announced Monday one of the most concrete efforts to date for building a new infrastructure that could ultimately replace the government-controlled mortgage companies.

Edward DeMarco, acting director of the Federal Housing Finance Agency, said the agency would begin forming a company that would consolidate some of the “back-office” functions currently replicated individually by each firm. The company would have its own chief executive and board and for now would be jointly owned by Fannie and Freddie, Mr. DeMarco said in a speech Monday before the National Association of Business Economics in Washington, …

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One response to “Fannie, Freddie to Create Joint Firm as Reported by the Wall Street Journal

  1. Pingback: Are Banks Stealing Homes from Homeowners? You Decide! | Platinum Elite Group

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