The national general practice law firm of Charles Jerome Ware, P.A.: "Still working. Still committed. Still here to make a difference."
The U.S. Treasury Department today (Friday, August 17, 2012), upon careful reconsideration, announced plans to "speed up" the "winddown" of its financial support of the Federal government-sponsored Fannie Mae and Freddie Mac, among the largest mortgage finance companies in the United States.
Treasury has, in effect, that it will rework the terms of the Federal government's bailout of the two mortgage giants to shrink the companies more quickly and ensure that the tax payers benefit from any profits generated by the two enterprises, which now own or guarantee about 60 percent of U.S. home loans.
The renegotiated terms of the four-year-old Federal conservatorship of Fannie Mae and Freddie Mac, which began in 2008, mandate the two giants downsize their massive mortgage portfolios by 15 percent annually, up from 10 percent.
Treasury Secretary Geithner has said he will propose a plan to overhaul housing finance that could include dismantling or altering Fannie Mae and Freddie Mac.
[www.sddt.com/Finance/article/FannieMae-FreddieMac/ 08-17-2012; www.washingtonpost.com/business/economy/US-to-tevamp-fannie-freddie-bailout/ 08-17-2012; www.reuters.com/article/2012/08/17/US-usa -housing; bloomberg.com/new/2012/08/17/treasury-accelerates-withdrawal-of-fannie]
No comments:
Post a Comment