liquid and moving. critics say this moves the housing market too fast. some say without the government involved, not everyone has access to the american dream of a home loan. the first option is to get out of the mortgage market completely. the second is to backstop loans or have a private structure to backstop loans. and third, only have backstop loans during market stress. the white house wants to clearly be very careful about what they re doing to avoid another leg down in the housing market. don? be sure to tune in to your bottom line with christine roman on saturday at 9:30 a.m. eastern, and your money on saturday at 1:00 p.m. and sunday at 3:00. massive crowds jam cairo s
house will offer white paper with three options to put before congress to figure out a solution how to get rid of these ailing, bleeding giants and have a healthy housing market. one option, get out of the mortgage market altogether. get the government out of the mortgage market with the exception of the fha which makes home loans available to poor people who otherwise would never get a loan. backstop loans in some cases. or backstop loans only during market stress. so now putting these three ideas out on the table, friday, they will. that will allow congress, republicans and democrats to try to figure out what role, if in any, fannie or freddie should have in the overall mortgage market. no question, though, those two were a mess and also here is something interesting. if you got rid of fannie and freddie this is the destination of more senators and more federal officials get done with their job representing constituents and get a nice
so what do you do here and how do you get the taxpayer out of the business of supporting the mortgage market? how big is it? 9 out of 10, 90% of the home loans 90% of all homes in this country mortgages are filtered through the government either through fannie, freddie or from the fha. taxpayers paid to have rescue these two big ones, $100 billion, $200 billion. we have to make sure it doesn t happen again. we have to be careful, though, this is slow it doesn t kill an already very fragile housing market because if you don t have big government help propping up the housing market you could have higher borrowing costs and lower home prices. ed henry confirmed the white house on friday will release a white paper with three kinds of options. one, get out of the mortgage market. get out. two, backstop loans to some degree. three, only backstop loans during periods of so-called market stress. what do fannie and freddie do?