November 5, 2024 12:53 pm
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Fannie Mae and Freddie Mac slapped again, but they’re not going away

FannieBy Kent Hoover | Phoenix Business Journal

A Senate committee approved legislation to replace Fannie Mae and Freddie Mac with a new secondary mortgage market financed by private capital, but with a government backstop. The Housing Finance Reform and Taxpayer Protection Act was approved by the Senate Banking Committee by a 13-9 vote — likely too small of a margin to convince Senate Majority Leader Harry Reid, D-Nev., to bring the bill to the Senate floor for a vote.

Continued: 

Related: Senate Panel Votes to End U.S. Giants in Mortgages 

 

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.