President Obama discusses the future of Fannie Mae and Freddie Mac. Steve Furlong had his question directly answered by the President!
See the full webcast here:
http://www.whitehouse.gov/photos-and-video/video/2013/08/07/president-obama-answers-your-housing-questions-zillow
The question was: “President Obama: If Congress is successful in scaling Fannie Mae and Freddie Mac down, what model fills the gap?”
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His answer was that less government involvement in the mortgage securitization process is needed. He is searching for effective ways to spur private investment in mortgage securities, but to gradually make any changes so as not to harm the delicate recovery of the housing market.
Our take on this is one of optimism for improved financing options and flexibility as the current market is restrictive for many clients in being able to obtain financing. We are up for any challenge in helping to guide families home and work with every client until the end result is achieved – home ownership!
