Industry NewsMortgage

Fed move on Fannie, Freddie is ‘good news’

Perspective: Takeover makes financing more certain
Published on Sep 8, 2008

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by CareyBot

Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart held a press conference Sunday to announce that the government had placed Fannie Mae and Freddie Mac under conservatorship. After meetings with the boards of directors for both organizations, the Federal Housing Finance Agency took control of these institutions that are vital to home loans.

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