January 14, 2009 at 15:00 PM EST
Quick Hits: Kinder, Gentler Fannie Mae
A kinder gentler Fannie Mae (FNM) has a short-term fix for the housing mess - one that won’t solve the long-term problem and may in fact create new ones. Fannie says it will permit “qualified renters” in foreclosed properties to stay in their homes. Fannie calls this beneficence (at taxpayer expense) the National Real Estate Owned Rental Policy. Better to call it: Kick The Problem Down the Street and Don't Think About It Until the Day After Tomorrow If Ever Plan. Those renting a property at the time Fannie Mae acquires it will be offered a new monthly lease ...
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