US Government Takes on Big Role in Mortgage Market September 8, 2008
Posted by Bethany Davidson in : Advocacy, Anti-Predatory Lending Initiative, News , trackbackWASHINGTON (AP) — Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration announced Sunday it was seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis.
But private analysts worried that it may not be enough to stabilize the slumping housing market given the glut of vacant homes for sale, rising foreclosures, rising unemployment and weak consumer confidence. Read more here.
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