U-turn on GSE mortgage policy FNMA
U-turn on GSE mortgage policy May 14 2014, 06:24 ET U-turn on GSE mortgage policy May 14 2014, 06:24 ET Obtaining a mortgage may be about to get a lot easier as FHFA chief Mel Watt - in his first public speech since taking over as regulator of Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) in January - says the mortgage giants should focus on making credit more readily available to homeowners. The call is a U-turn from the policy of previous FHFA boss Ed DeMarco. "I don't think it's FHFA's role to contract the footprint of Fannie and Freddie," says Watt, adding that winding down the companies without proof private investors are willing to fill the gap "would be irresponsible." Comments ( 12 ) taxman100 Comments (202) Would you loan money to the majority of homeowners for 30 years at the current interest rates? The risk of job loss, medical issues, lack of fiscal disc...