(RECAP: Two U.S. senators working on a bipartisan overhaul of Fannie Mae and Freddie Mac are seriously considering a plot that would break up the mortgage-finance giants, according to people with knowledge of the matter. The proposal by Bob Corker, R-Tennessee, and Mark Warner, D-Virginia, would attempt to foster competition in the secondary mortgage market, where loans are packaged into bonds and sold off to investors, said the people.)
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(RECAP: The need for affordable housing is periodically discussed in greater Williamsburg, but there is never an actual solution other than the preposterous statement that $200,000 plus fits the definition.)
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(RECAP: The housing market crash, which started in 2007 and kicked off the Fantastic Recession, blighted both the financial and real estate industries. Among the many participants whose reputations were ruined, few took more hurt than the mortgage brokers who sold adjustable-rate mortgages. Known as ARMs, they became a four-letter word within the industry. But nine years after their fall from grace into near oblivion, ARMs are making a slow, but steady, comeback.)
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