Big lenders are complaining that these mortgage giants, created by the government to encourage home ownership, have overstepped their roles.
"In recent weeks, the likes of Wells Fargo & Co., American International Group Inc. and General Electric Co.'s GE Capital unit have amplified longstanding complaints about Fannie Mae and Freddie Mac. Started decades ago by the federal government to make the mortgage market run more smoothly, Fannie and Freddie buy mortgages from lenders and package loans for sale to institutional investors. But Wells Fargo, AIG and GE Capital say that, contrary to their innocuous names, Fannie and Freddie are improperly expanding beyond their original purpose and using bullying tactics to stifle criticism." Concerns are raised over Fannie Mae and Freddie Mac's use of new technologies, which have made them more efficient.
Thanks to Chris Steins
FULL STORY: Why Big Lenders Are So Afraid Of Fannie Mae and Freddie Mac
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association