WASHINGTON, DC-On Tuesday, the Obama administration invited banking executives to provide advice on the role of the government in supporting the mortgage market. The group unanimously agreed that government support is necessary to support the $11-trillion market. The group further added that doing away with government support could lead to a sharp increase in mortgage rates discouraging many banks from providing assistance to consumers. The removal of government support could also lead to banks and mortgage lenders to face higher losses.For the full story, go to The Detroit Free Press.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
