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New mortgage giant CEOs face tough challenges

New mortgage giant CEOs face tough challenges

This is a discussion on New mortgage giant CEOs face tough challenges within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Herbert Allison was named the new chief executive of Fannie Mae and David Moffett the new CEO of Freddie Mac ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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09-08-2008, 10:41 PM

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New mortgage giant CEOs face tough challenges

Herbert Allison was named the new chief executive of Fannie Mae and David Moffett the new CEO of Freddie Mac on Sunday as part of the Treasury Department's takeover of the two huge mortgage financing agencies. ...

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