Wednesday, May 22nd

Last update08:00:00 AM EST

You are here:
Tuesday, 15 July 2008 01:00

Local Reaction to Fannie Mae/Freddie Mac

Written by 
News that the federal government is considering stepping in to prop up the quasi-governmental mortgage giants Fannie Mae & Freddie Mac has rocked the financial world. But president of Naples Classic Mortgage – Robert Harry – says he doesn’t see much risk to homeowners, although loans for people with less-than-perfect credit are going to be even harder to come by. Harry worked as an account manager for Freddie Mac from about 10 years starting in the mid 80s. He told WGCU’s Mike Kiniry that Fannie & Freddie aren’t sub-prime lenders trying to stay afloat…but solid companies suffering a crisis of shareholder confidence…

Listen Here