FannieMae, federal helper agency for home buyers, sports a disaster response icon on its homepage ... It's not what you're thinking. It's Katrina-related.
Regulators reportedly have a spiffy proposal out to change the way adjustable rate mortgages are sold, including a lot of charts and graphs that say, "This is a smashed watermelon. This is you with a 14% interest rate on your mortgage. Any questions?"
Of course, it's a bit late ... new ARMs have been falling as a percentage:
Anyway, Fannie is adding a voice, outlining predatory lending practices, etc.
Sunday, August 19, 2007
It's Still Your Fannie
