I'm always surprised if I'm speaking to someone who works in real estate and they say something that reveals they don't understand how mortgages are funded today and the crucial role Fannie Mae and Freddie Mac play in the process. When I'm writing about Fannie and Freddie -- as in this recent article about President Bush signing the historic housing bill -- I rarely take the time to explain what they do or -- love them or hate them -- why they are so important right now. I figure it's just too complicated to bring people who don't know up to speed each and every time I write about them. That's one reason I was blown away by this article on the passage of the housing bill by Mario Ritter of Voice of America News, which came to my attention via a Google alert. In 361 words -- ext...
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