Freddie Mac & Fannie Mae set for US government takeover on 100 Mortgages

It’s been reported in the Wall Street Journal, that the US treasury department are finalizing a plan which could see Freddie Mac and Fannie Mae being taken over by the government.

The plan is anticipated to involve putting the two mortgage giants into the conservatorship of their regulator, the Federal Housing Finance Agency - that would mean, even if only temporarily the US government would take the reins of Freddie and Fannie.

It was also said that there could be a cash injection into Freddie and Fannie by the government, which is most likely not to come as a single payment but as a gradual quarter-by-quarter basis.
We are still waiting for the official announcement, so these details could change. But it’s thought that the announcement by the US treasury will come over this weekend.

Source: Foxnews

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