Fannie/Freddie bailout

Reprinted from: Daily Real Estate News September 8, 2008
"The federal government's sweeping takeover of mortgage market giants Fannie Mae and Freddie Mac is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies. The NATIONAL ASSOCIATION OF REALTORS® commended the Treasury Department's decision, which it said will bring much-needed stability and continued liquidity to the nation’s mortgage market."

""This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy," NAR President Richard F. Gaylord said in a statement Monday. "

"Fannie and Freddie own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt."Fannie Mae and Freddie Mac play a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners," Gaylord said. "Their critical mission must not be interrupted, and Sunday’s announcement goes a long way in making sure that does not happen.""