The Real Deal Miami

Books get examined at Fannie, Freddie  

July 22, 2008 08:30AM

As the Bush administration pushes for a rescue plan for Fannie Mae and Freddie Mac that would pump billions of dollars into the troubled mortgage giants, bank examiners from the Federal Reserve and Comptroller of Currency are inspecting their books. Congress expressed concern about the bill because the extent of the companies’ losses is unclear. Some lawmakers worry that the companies won’t be able to absorb mounting foreclosures without more money from the government, while the Bush administration hopes they can help revive the housing market.