Fannie Mae Wants to Go Into Construction Financing

Building Online reports:

Speaking at the 2006 International Builders' Show, Fannie Mae President and CEO, Daniel H. Mudd vowed to get into the business of construction financing, which he says is an underserved market that looks much like the U.S. mortgage market was about a generation ago.

"Fannie Mae has been working with the Home Builders for about two years now on a simple proposition: Shouldn't home builders have the same range of financing options as home buyers enjoy today? Wouldn't that mean a better deal for home buyers -- and help home builders meet the nation's demand for housing?" Mudd said.

Fannie Mae has kept shifty books,bought Congressmen,are exempt from local property taxes in D.C.,and now they want to go into "construction financing".With a housing boom that's historic, Fannie Mae thinks there's a problem with construction financing.Does Fannie Mae want to get into the credit card business all supported by U.S. taxpayers?? When will the madness stop? You'll notice that the modern day "left" who's been bought off by the Fannie Mae foundation doesn't care about anti-trust implications.