FHFA Director Indicates GSEs Are Unlikely to Bail Out Mortgage Firms
One of the nation's top housing regulators said about two weeks ago that many mortgage servicing firms could fail if the coronavirus pandemic lasts for more than two months.
Now Mark Calabria, head of the Federal Housing Finance Agency, which oversees the government-sponsored entities (GSEs), has significantly changed his tune.
Calabria told The Wall Street Journal on Tuesday that he doesn't see a need for GSEs such as Fannie Mae and Freddie Mac to step in to aid the mortgage companies right now.
Source Fool.com
