Doom and Gloom

Fannie Mae announced higher the expected losses in net income yesterday.  The company that owns the highest amount of housing debt in the US is cutting dividends to raise more money and buy more mortgages in order to weather the losses of the worst housing market since the Great Depression. 

What I look for:

I think this will help in the mortgage business of the near future as Fannie Mae and Freddie Mac increase their available credit to buy mortgage securities the interest rates will drop and money will become more available for home loans.  With a down housing market and low interest rates I see a great opportunity for buyers and investors to build their real estate investments in a down time with cheap money.

Nick Westerman 






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