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Business Spotlight

Doubts Raised on Big Backers of Mortgages

Via New York Times,
222 Reads | | Post a commentPublished May 6, 2008 - 12:41 PM

As home prices continue their free fall and banks shy away from lending, Washington officials have increasingly relied on two giant mortgage companies — Fannie Mae and Freddie Mac — to keep the housing market afloat.

But with mortgage defaults and foreclosures rising, Bush administration officials, regulators and lawmakers are nervously asking whether these two companies, would-be saviors of the housing market, will soon need saving themselves.

Related Topics: Housing, Fannie Mae, Freddie Mac, market,