{"id":14070,"date":"2011-02-08T21:07:59","date_gmt":"2011-02-09T04:07:59","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=14070"},"modified":"2011-02-08T21:10:02","modified_gmt":"2011-02-09T04:10:02","slug":"farewell-to-fannie-and-freddie-hold-your-breath","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14070\/farewell-to-fannie-and-freddie-hold-your-breath\/","title":{"rendered":"Farewell to Fannie and Freddie? Hold your breath…"},"content":{"rendered":"

The Obamanation plans to offer up three proposals to eliminate FannieMae and FreddieMac from the secondary mortgage marketplace. Expect to hear much mournful keening, in coming weeks, from the country’s best enemy of private property, the National Association of Realtors.<\/p>\n

From the Wall Street Journal:<\/em><\/a><\/p>\n

More than two years after the government seized Fannie Mae and Freddie Mac, the Obama administration will recommend phasing out the housing-finance giants and gradually reducing the government’s footprint in the mortgage market, according to people familiar with the matter.<\/p>\n

The administration is expected to include three options for a post-Fannie and Freddie world when it releases a long-awaited proposal for the future of the nation’s $10.6 trillion mortgage market, which could come as soon as Friday. Together with federal agencies, Fannie and Freddie have accounted for nine of 10 new loan originations in the past year.<\/p>\n

The White House’s “white paper” will begin what promises to be a prolonged and fiery debate about the future of how homes are financed across the U.S. Any wind-down of Fannie and Freddie would happen gradually to avoid roiling markets, and the central, unanswered question is what kind of federal function, if any, the administration and Congress will invent to take their place.<\/p>\n

Steps to reduce the government role in the mortgage market likely would raise borrowing costs for home buyers, adding pressure on the still-fragile U.S. housing markets. Consequently, analysts believe any transition could take years and would be driven by the pace of the housing market’s recovery.<\/p>\n

The fight over how to restructure the housing-finance system has roiled Washington, and yet both parties have been hesitant to propose detailed legislation.<\/p>\n

For conservatives, Fannie and Freddie played a starring role in the financial crisis, and any solution that is viewed as replicating their function could face fierce opposition from some Republicans. But more moderate Republicans may resist such an approach and could join Democrats who have said a federal role is necessary to ensure broad access to home ownership.<\/p>\n

While advancing one detailed plan risks providing fodder for partisan battles, offering multiple proposals may help the administration force those views into the open, said Michael Barr, Read more<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The Obamanation plans to offer up three proposals to eliminate FannieMae and FreddieMac from the secondary mortgage marketplace. Expect to hear much mournful keening, in coming weeks, from the country’s best enemy of private property, the National Association of Realtors. From the Wall Street Journal: More than two years after the government seized Fannie Mae […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,4,26,6,5],"tags":[],"class_list":{"0":"post-14070","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-disintermediation","8":"category-lending","9":"category-marketing","10":"category-real-estate","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":10963,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10963\/barney-frank-i-believe-this-committee-will-be-recommending-abolishing-fannie-mae-and-freddie-mac-in-their-current-form-and-coming-up-with-a-whole-new-system-of-housing-finance\/","url_meta":{"origin":14070,"position":0},"title":"Barney Frank: “I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance.”","author":"Greg Swann","date":"January 22, 2010","format":false,"excerpt":"To say anything at all would be way too much. From the Wall Street Journal:\"The remedy here is...as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,\" said Rep. Barney Frank\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10715,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10715\/interest-rates-have-been-trending-upward-but-what-happens-when-uncle-sugar-quadruples-the-sugar-supply-at-fannie-and-freddie\/","url_meta":{"origin":14070,"position":1},"title":"Interest rates have been trending upward, but what happens when Uncle Sugar quadruples the sugar supply at Fannie and Freddie?","author":"Greg Swann","date":"December 26, 2009","format":false,"excerpt":"From the Wall Street Journal:The Obama administration's decision to cover an unlimited amount of losses at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years stirred controversy over the holiday. The Treasury announced Thursday it was removing the caps that limited the amount of available capital\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4576,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4576\/what-happened-fannie-mae-and-freddie-mac-exploded-and-many-bystanders-were-injured-in-the-blast-some-fatally\/","url_meta":{"origin":14070,"position":2},"title":"What happened? “Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally”","author":"Greg Swann","date":"September 22, 2008","format":false,"excerpt":"Things fall apart: Kevin Hassett at Bloomberg.com is getting death threats over this news analysis:The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story. Why\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4256,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4256\/excerpts-from-the-press-release-about-the-death-of-fannie-and-freddie\/","url_meta":{"origin":14070,"position":3},"title":"Excerpts from the Press Release about the Death of Fannie and Freddie…..","author":"Tom Vanderwell","date":"September 7, 2008","format":false,"excerpt":"Treasury Press Release I have clearly stated three critical objectives: providing stability to financial markets, supporting the availability of mortgage finance, and protecting taxpayers \u2013 both by minimizing the near term costs to the taxpayer and by setting policymakers on a course to resolve the systemic risk created by the\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4418,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4418\/fannie-and-freddie-fall-to-foreclosure-but-still-lenders-lend\/","url_meta":{"origin":14070,"position":4},"title":"Fannie and Freddie fall to foreclosure, but, still, lenders lend","author":"Greg Swann","date":"September 14, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Fannie and Freddie fall to foreclosure, but, still, lenders lend I write this column at the beginning of the week, and it appears at the end of the week. My topics are usually timeless, but, if I\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4039,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4039\/mortgage-market-week-in-review-7\/","url_meta":{"origin":14070,"position":5},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"August 22, 2008","format":false,"excerpt":"Here we are on Friday again and it\u2019s time to take another look at what\u2019s going on in the mortgage markets. This week we\u2019re going to talk about two economic reports and two big question marks. First the economic reports from the week: 1. The Index of Leading Economic Indicators\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=14070"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14070\/revisions"}],"predecessor-version":[{"id":14071,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14070\/revisions\/14071"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=14070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=14070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=14070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}