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Sep 11, 2008

NAMB responds to GSE stability measuresMortgagePress.comFannie Mae, Freddie Mac, Marc Savitt, GSEs, NAMB, conservatorship, U.S Treasurt, FHFA The National Association of Mortgage Brokers has responded to the announcement by U.S. Treasury Secretary Paulson and FHFA Director Lockhart that the government will take control of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. "Fannie Mae and Freddie Mac play a pivotal role in the housing industry," said NAMB President Marc Savitt, CRMS. "NAMB applauds the action taken by Secretary Paulson and Director Lockhart." "This is a clear signal to consumers and Wall Street that stability is returning to the secondary mortgage market," stated Savitt. "Stability breeds confidence, which is the main ingredient needed to turn the slumping housing market around." "These measures will allow for the return of affordable mortgage financing, which will renew the dream of homeownership for consumers," continued Savitt. The Treasury and the FHFA released several Fact Sheets outlining next steps for Fannie Mae and Freddie Mac. Please click on the links below for Fact Sheets and a statement by FHFA Director Lockhart: GSE Mortgage-Backed Securities Purchase Program Fact Sheet Government Sponsored Enterprise Credit Facility Fact Sheet Treasury Senior Preferred Stock Purchase Agreement Fact Sheet Statement by FHFA Director Lockhart For more information, visit www.namb.org.
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Sep 11, 2008
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