Get Inside: Solving the Mortgage Mystery

The Reinvention of Fannie Mae and Freddie Mac

February 9, 2011 at 3:47 PM 1 comment

From starting out as government entities, then changing to privately owned, government-sponsored agencies, and now to being held in conservatorship of the Federal Housing Finance Agency (a/k/a “the government” again), the mortgage giants Fannie Mae and Freddie Mac are about to be reinvented once more.

This Friday, the Obama administration will issue their “white paper” proposal with options for reducing or eliminating government involvement with the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

While any changes may be over the course of a few years, there is no question that we are at the cusp of a new era in mortgage finance and homeownership.  Any proposed changes have the potential to affect everyone who owns a house, wants to own a house, has friends, or relatives, or neighbors, or a boss, who own a house.  What I’m trying to say is, this is BIG!

The CNN report can be found here 

The impact from the decisions being made could have HUGE repercussions throughout the economy. We will help decipher the jargon!

~Sherri Dyer, Advisor & Mortgage Maven

writing for MDI Mortgage, a full service mortgage company located in Bar Harbor, Maine, Mount Desert island

Entry filed under: Economy, Fannie Mae, Freddie Mac, MDI Mortgage, Mortgage News, Sherri Dyer. Tags: bar harbor, Fannie Mae, Freddie Mac, mdi, mdi mortgage, sherri dyer.