Freddie Mac Bets Against Homeowners and Refinancing

Source: New American

Freddie Mac has again entered the spotlight as a new report claims the government-sponsored enterprise betrayed American homeowners after placing multibillion-dollar bets that will pay off if homeowners remain shackled by costly mortgages with interest rates well above current rates. In a scathing new investigation, National Public Radio (NPR) and ProPublica, an independent investigative news service, uncovered multibillion-dollar investments made by Freddie in late 2010 that will only pay off if homeowners remain trapped in high-interest mortgages.

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