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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (90110)	9/22/2007 1:41:08 PM
From: patron_anejo_por_favor	Respond to of 306849

...and if the FHA machinations aren't terrifying enough, there's this: online.wsj.com Limits on Fannie, Freddie Could Be Lifted By DAMIAN PALETTA September 22, 2007; Page A4 WASHINGTON -- The top regulator for Fannie Mae and Freddie Mac said limits on both companies' investment portfolios could be entirely lifted in February if they begin filing timely and audited financial statements. The question of whether the two government-backed mortgage-finance giants should be allowed to expand has been a hot issue in Washington. Some Democrats have argued that they should immediately be given more flexibility to address liquidity problems in the mortgage market. The Bush administration has urged caution and has said that policy changes should come in conjunction with a new law to beef up regulation of the companies. The Office of Federal Housing Enterprise Oversight imposed strict limits on the portfolio size at Fannie Mae and Freddie Mac last year after accounting scandals at both companies. Combined, the government-sponsored enterprises hold more than $1.4 trillion worth of loans and securities in these portfolios. Neither company has filed timely audited financial statements in several years, though both plan to do so by early 2008.<snip>