Michael's Boulder Blog

By Michael Hughes          February 6, 2010

March 2nd  has been set as the beginning of the hearings on a broad scope of issues and will review the future of Fannie and Freddie. It will be the roller coaster ride of the century. Barney Frank Chairman of the House Financial Services Committee has said maybe we would be better off without them (Fannie and Freddie). In fact Frank said he will push to “do away with them in favor of a different model.”  OMG a government model of efficiency. I can’t wait. Keep in mind almost every home loan, (possibly) including yours, written today is guaranteed by Fannie, Freddie, or the FHA.  Congress is about to decide nothing less than the future of housing.

Why on earth would you want to reinvent the wheel.  Put some new guidelines in place for Fannie and Freddie and place some people with management cojones and make it work.  What doesn’t work is the government attempting to create/manage most anything. And in all fairness I mean this in the most bi-partisan way.

Frank to Recommend Replacing Fannie Mae and Freddie Mac on Bloomberg

Frank Sets March 2^nd as Smackdown date with Freddie and Fannie

If you have questions regarding this article or Boulder Real Estate please call me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO