Fannie Mae is one of the two quasi-governmental mortgage investment companies regulated by the Federal Housing Financing Agency. Fannie Mae buys mortgage loans from banks who have made the mortgage loans to consumers. Fannie Mae sets criteria for the loans that they will buy and banks try to meet these criteria in order to sell the loans. When banks get money from Fannie Mae, they have more money to loan to home buyers.
Christmas Gifts: A Lump of Coal for the Housing Industry. Yesterday afternoon, I sat in on a conference call about covering the foreclosure crisis. But it wasn't so much a lesson in foreclosure journalism (if there's such a thing) as it was a discussion of where we are in the now four-year housing crisis with a dash of speculation as to when we might get out of here.
Ilyce Glink filled in for Clark Howard, as part of an annual pre-Thanksgiving tradition. She discussed her plans for a Thanksgiving feast and strategized for Black Friday shopping. Ilyce discussed spending concerns for holiday shopping and shared some inexpensive gadgets that might make good gift ideas. She also reviewed Treasury Secretary Hank PaulsonÃ¢â‚¬â„¢s announcement of an $800 billion boost to consumer finances, including $600 billion to buy Fannie Mae and Freddie Mac assets. On news of lower mortgage interest rates, she discussed whether it is a good time to refinance.To find out more, tune into the show. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. Subscribe to her YouTube channel: www.youtube.com/expertrealestatetips and friend her to find out about new videos.
You may have seen this comment on an Oct 14 entry to this blog: Listened to Glenn Beck tonight on cable --had a senator (sorry don't remember his nam...