U.S. News & World Report: Fairholme Capital Management wants to lead a group in a $52 billion investment to buy insurance businesses from Fannie Mae and Freddie Mac, highlighting the question of whether the government should play a smaller role in mortgage finance.
The full proposal to buy parts of the government sponsored enterprises, available online, would answer calls from both Republican and Democratic members of Congress, and from President Barack Obama, for the private sector to play a greater role in the housing finance system, said a statement from Bruce Berkowitz, CEO of Fairholme. Freddie Mac and Fannie Mae are government-sponsored businesses that buy, sell and guarantee approximately two-thirds of America's housing loans.
The most significant government policy, business, and technology news and analysis delivered to your inbox.
Subscribe Nowi360Gov is an intelligent network of websites and e-newsletters that provides government business, policy and technology leaders with a single destination for the most important news and analysis regarding their agency strategies and initiatives.
Telephone: 202.760.2280
Toll Free: 855.i360.Gov
Fax: 202.697.5045
The most significant government policy, business, and technology news and analysis delivered to your inbox.
Subscribe Now