It will be interesting to see if Republicans support this: President Obama is considering new fees for the mortgage industry that would essentially require companies to pay for federal backing. The move comes amid a general consensus that the mortgage market needs federal support to keep functioning. The Wall Street Journal says administration officials want the cost of a guarantee fully offset by the industry. The government is hoping to avoid a repeat of the Fannie Mae and Freddie Mac fiasco, which Treasury Secretary Timothy Geithner said was due to the firms not adequately charging for the risk they were taking on.
Read it at The Wall Street Journal
