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, …
Maybe something good will come of the Government’s Sequestration?! Please stay tuned to our Blog for more Details as this NEWS evolves, or you may contact us at PlatinumElite.com or call us at 702-869-9999 to discuss how this may affect your Home or current Listing with us.
- Regulator directs Fannie Mae, Freddie Mac to merge some operations (bizjournals.com)
- Fannie Mae, Freddie Mac to build a new entity: FHFA (nzweek.com)
- Fannie, Freddie to form new company (nbcnews.com)
- Fannie, Freddie to start new securitization firm, regulator says (uk.reuters.com)
- DeMarco Outlines Plan to Merge Fannie, Freddie into New Securitization Firm (mortgagenewsdaily.com)
- Why has Congress left housing to Fannie Mae and Freddie Mac? (washingtonpost.com)