Share on Google Plus Share on Twitter 5 Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (5 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

Freddie Mac Bets Against American Homeowners

Quicklink submitted by Amanda Lang     Permalink
Related Topic(s): ; ; ; ; ; ; ; ; , Add Tags

View Ratings | Rate It

opednews.com Headlined to H3 1/30/12

Become a Fan
  (9 fans)
Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates.

Freddie began increasing these bets dramatically in late 2010, the same time that the company was making it harder for homeowners to get out of such high-interest mortgages.

No evidence has emerged that these decisions were coordinated. The company is a key gatekeeper for home loans but says its traders are "walled off" from the officials who have restricted homeowners from taking advantage of historically low interest rates by imposing higher fees and new rules.

Read the rest of the story HERE:

At www.propublica.org

- Advertisement -
- Advertisement -

 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments