Fannie Mae and Freddie Mac to Merge ???

April 15, 2009 by Scott Smolen · Leave a Comment
Filed under: Scott 

Rumors are swirling that executive’s at Fannie Mae have begun internal talks about taking over Freddie Mac’s operations and being able to streamline expenses.  Fannie’s been around since 1938. It was created to help the U.S. rebuild its residential real estate market after the Great Depression. Freddie was created in 1970 to add competition to the U.S. mortgage market. Business — and competition — soared in the 1990s and early 2000s as banks couldn’t lend fast enough. Many exotic private mortgages came to market, and as we know, imploded last year.  The key decider of Fannie and Freddie’s future will be James Lockhart, who oversees Fannie and Freddie as the director of the Federal Housing Finance Agency. He said that Freddie and Fannie will remain under government control until the housing market recovers, with their primary focus being to help homeowners to meet mortgage payments.  Stay tuned for more info as it comes out.

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  • Scott Says...

    Americans sent more text messages than they made cell phone calls per phone. Text messaging is quickly replacing talking on the phone as the preferred method of communication for many people in the USA. Savvy Realtors should recognize this early and position themselves to capture this business, before their competitors do.Statistics from Neustar:
    • 72.2% of wireless users have paid for SMS packages. This equates to 203 million Americans.
    • 57% of wireless users 13+ are considered regular text message users.
    • There has been a 107% increase in text message use in the USA in the past year.
    • 2.5 billion text messages are sent each day in the USA.
    • More text messages are sent per phone than phone calls. The average text messages used per month is 357 compared to 204 cell phone calls.
    • 138 million Americans have sent a text message in the past three months.

    • Ed Says...

      Forget about the Mayan Calendar 2012 doomsday! Some mobile users are seeing the year 2016 on messages delivered in 2010. The Mayans had December 21, 2012 as 13.0.0.0.0 in the Long Count. Is the 2016 bug a result of bad string parsing? Poor binary to BCD conversion? The plot thickens...[via WMExperts]