Prez reportedly rejects calls to pull gov't out of housing market
(NEWSER) - Despite two White House proposals floated earlier in the year to get the federal government out of the housing market, President Obama will likely opt for the third option: reforming the housing market over the next decade but continuing to extend federal loan subsidies and insure most mortgages, reports the Washington Post . This option would also keep Freddie Mac and Fannie Mae, albeit possibly under different names and with new regulations that might include larger reserve requirements, shrunken portfolios, and fees to create an insurance pool for bad mortgages. More»
