White House hands off housing finance dilemma to Congress - WSFA.com Montgomery Alabama news.

White House hands off housing finance dilemma to Congress

DANIEL WAGNER,AP Business Writers
DEREK KRAVITZ,AP Business Writers

WASHINGTON (AP) — The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision.

The Treasury Department says in a report released Friday that the government should withdraw its support for the mortgage market slowly, over five years or more. The report describes a path for winding down the troubled mortgage giants Fannie Mae and Freddie Mac.

The three options are: end the government's role in guaranteeing most mortgages; support the mortgage market only in times of stress; or provide a government guarantee for mortgage investments created by private companies.

The bailouts of Fannie and Freddie have cost taxpayers nearly $150 billion.

 

Copyright 2011 The Associated Press.

  • Trending StoriesTrending StoriesMore>>

  • Mother charged with killing teenage daughter

    Mother charged with killing teenage daughter

    Wednesday, August 23 2017 6:50 AM EDT2017-08-23 10:50:33 GMT
    Wednesday, August 23 2017 6:50 AM EDT2017-08-23 10:50:33 GMT

    Burned remains found on the mother’s farm were identified as those of her 16-year-old daughter, who she gave up for adoption when she was a baby.

    More >>

    Burned remains found on the mother’s farm were identified as those of her 16-year-old daughter, who she gave up for adoption when she was a baby.

    More >>
  • Solicitor: Suspect in deadly Conway bank robbery to face two counts of murder, other charges

    Solicitor: Suspect in deadly Conway bank robbery to face two counts of murder, other charges

    Wednesday, August 23 2017 6:21 PM EDT2017-08-23 22:21:40 GMT
    Front: Brandon Council (Source: Conway Police), Background: The scene in Greenville, NC where Council was apprehended. (Source: WITN reporter Lynnette Taylor's Facebook Live)Front: Brandon Council (Source: Conway Police), Background: The scene in Greenville, NC where Council was apprehended. (Source: WITN reporter Lynnette Taylor's Facebook Live)

    The person of interest in the double-murder and bank robbery in Conway on Monday is in custody. Brandon MIchael Council was arrested in Greenville, North Carolina Wednesday, along with two other people, authorities there confirmed.  Brandon Michael Council was wanted for questioning in connection with the murder of two CresCom bank employees during a bank robbery at the CresCom Bank in Conway on Monday afternoon.

    More >>

    The person of interest in the double-murder and bank robbery in Conway on Monday is in custody. Brandon MIchael Council was arrested in Greenville, North Carolina Wednesday, along with two other people, authorities there confirmed.  Brandon Michael Council was wanted for questioning in connection with the murder of two CresCom bank employees during a bank robbery at the CresCom Bank in Conway on Monday afternoon.

    More >>
  • Police: Mass shooting at gender reveal party was 'in no way random'

    Police: Mass shooting at gender reveal party was 'in no way random'

    Tuesday, August 22 2017 1:10 PM EDT2017-08-22 17:10:56 GMT
    (Cheyanne Willis/Facebook)(Cheyanne Willis/Facebook)

    The Colerain Township woman who said she lost her unborn child during a mass shooting that left 8 injured and one dead was not pregnant, police announced Monday. 

    More >>

    The Colerain Township woman who said she lost her unborn child during a mass shooting that left 8 injured and one dead was not pregnant, police announced Monday. 

    More >>
Powered by Frankly