The Phaserl


Why Freddie and Fannie Failed

by Ramsey Su,

Freddie and Fannie (F&F) were placed under conservatorship September 2008. The agencies, including FHA, are now responsible for 90% of the mortgage market. In recent quarters, the agencies have been profitable (subject to debate) and returning billions to the Treasury.

Finally, after almost five full years, Senators Corker and Warner are working on a bill to phase out the agencies and pass the secondary market back to private hands. As part of Dodd-Frank, the Consumer Finance Protection Bureau is working on a mountain of regulations, mostly for unknown purposes other than red tape.

Are the agencies ready to stand on their own again?

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