US Wants to Centralize Mortgage Market Even More
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US Wants to Centralize Mortgage Market Even More
[CAF Note: How has centralizing the mortgage market worked so far? Great, how about some more?
Anyone considered free markets? Like the kind of markets where the borrowers don’t like crime because without
federal credit, it’s bad for business. This will make things worse, not better]
By nytimes.com
Fannie Mae and Freddie Mac will form a new joint company for securitizing home loans as a steppingstone toward reducing government involvement in the mortgage market, the regulator of the government-controlled companies said on Monday.
“The overarching goal is to create something of value that could either be sold or used by policy makers as a foundational element of the mortgage market of the future,” the regulator, Edward DeMarco, who is the acting director of the Federal Housing Finance Agency, said in remarks prepared for a conference.
