'Frannie' bailout makes money cheaper, not easier

The government takeover of mortgage financiers Fannie Mae and Freddie Mac could mean lower interest rates for many borrowers, but is unlikely to solve one of the biggest problems of credit crunch: the shrinking number of people who can get a loan in the first place.

Fannie and Freddie will be permitted to expand their direct investments in mortgage-backed securities from $1.5 trillion to $1.7 trillion over the next year.

more...

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.