The federal agency overseeing mortage giants Fannie Mae and Freddie Mac is suing the city of Chicago over a new ordinance aimed at cracking down on owners of vacant and abandoned buildings.The Federal Housing Finance Agency argues in a lawsuit filed Monday that the city can't impose fines and regula
The real estate market is moribund. Prices have plummeted. So who knew that people were still making big bucks from flipping properties?Turns out, speculators have found new ways to profit amid the wreckage of the housing boom.
Mortgage giants Fannie Mae and Freddie Mac are blamed to greater or lesser degrees — depending on the political ideology of the finger-pointer — for their roles in the 2008 financial meltdown.But even before the bursting of the mortgage bubble, critics complained the mortgage companies were risky.