By JC Kadii, MortgageVirtualAssistant.comSM
One of my (unpaid) duties as a Mortgage Virtual Assistant is to stay abreast of all the current events about the industry.
I’ve been doing a lot of research over the past few days into the Fannie Mae / Freddie Mac bailout is an effort to answer the question: “What does it mean for American homeowners?”
The answer I’ve been able to come up with is simply this: “Time will tell.”
The prognosticators say that the immediate effect will be lower interest rates.
Here are some interesting links:
The Fannie And Freddie Bailout, In 10 Easy Links A good starting point. Reading the first paragraph brought to mind a song I remember from my childhood: “Who Owns Papa’s Land” by Sonny Okusons.
http://www.npr.org/templates/story/story.php?storyId=94393089
This article contains frequently asked questions about the bailout, answered by Treasury Secretary Paulson.
The following phrase was the most interesting part of the article. What effect will reducing the portfolio of mortgage-backed securities have on the market?
increasing Fannie and Freddie’s portfolio of mortgage-backed securities
through the end of 2009, then reducing them by 10 percent each year, starting in 2010.
Local businesses assess fallout of Fannie Mae, Freddie Mac bailout
from the Washington Business Journal. This article provides an interesting twist on the bailout, exploring how the bailout may affect the Washington, DC economy. Did you know that close to 10,000 people are employed by the GSEs? Businesses that work for Fannie Mae and Freddie Mac are wondering how the government takeover will affect their contracts.
So, what do you think? What effect will this have? Do you have any interesting links to share?
JC Kadii, Mortgage Virtual AssistantSM . 770-469-7385. Through http://www.close-more-loans.com/, JC leads a team providing top notch administrative, internet marketing, and technology services to mortgage professionals. Mortgage professionals are encouraged to visit the website and sign up for the More Closings email newsletter to receive the report 6 Steps to More Referrals.
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