Fannie and Freddie are required to help homeowners while earning profits so they can pay back the taxpayers who bailed them out. Here is our guide to the little-known federal regulator, Edward DeMarco, ultimately in charge of the two companies. You may have never heard of him, but as The Washington Post put it, he’s “the most powerful man in housing policy.”
President Obama is doing an end run around Congress with a new strategy to target one of the most crucial sectors of the US economy, and one clearly in need of serious resuscitation -- the mortgage market This first installment of Obama's proposed economic rehab program, which he dubbed the "We Can't Wait" campaign (more) .
The Federal Housing Finance Agency is set to file lawsuits against more than a dozen big banks for allegedly misrepresenting the quality of mortgage securities they were assembling and peddling at the height of the housing bubble. (more)