Refinancing Home Mortgage
In: Mortgage Lending
4 Apr 2010U.S. House Financial Services Committee Chairman Barney Frank said on Tuesday he does not want smaller roles for mortgage finance giants Fannie Mae and Freddie Mac.
“I certainly don’t want to see their roles diminished right now,” the Massachusetts Democrat said in a CNBC television interview. “We certainly need them now.”
The U.S. government takeover came as worries heightened over shrinking capital at the congressionally chartered companies, which had combined losses of nearly $14 billion the last four quarters. Together, they back about half the country’s $12 trillion in home mortgages.
When asked if the GSEs should be a publicly traded company or a part of the U.S. government or even a hybrid, Frank declined to comment except to say he wants to maintain affordable housing subsidies for low-income families.
“There is a social element we want to do,” he said, adding that next year, lawmakers from both parties need to seriously discuss the companies’ fates.
Frank said he would also examine next year if any regulatory constraints need to be put into place in the securitization of loans such as mortgages that will also allow companies to benefit from the process.
“Securitization dissolved the constraints on irresponsible risk taking,” he said.
HEY ELLEN McFELON
IF YOU GOT SOMETHING SAY
SAY IT HERE, I DO!
WHAT IS NOT TRUE ABOUT BARNEY FRANKS?
HE IS A LONG TIME OBSTRUCTIONIST AND THATS HIS GOOD POINTS. HIS OTHER EXPLOITS REALLY DISGUSTS ME!
This is about mortgage information questions.
2 Responses to Will long time democratic hack be under investigation for malfeasance in the mortgage lending collapse?
doc_holliday1863
April 4th, 2010 at 2:35 am
Both parties are curopt
no ome 08
Ellen McFelon
April 4th, 2010 at 3:30 am
I notice you dont take email.
Cowards who take potshots with lies usually dont.