C.A.R. RELEASES NEW CONSUMER VIDEO ON FANNIE'S, FREDDIE'S ROLE IN HOMEOWNERSHIP

C.A.R. RELEASES NEW CONSUMER VIDEO ON FANNIE'S, FREDDIE'S ROLE IN HOMEOWNERSHIP
C.A.R. on Thursday released "Fannie and Freddie: Why They Matter to You," a new video featuring C.A.R. Executive Vice President Joel Singer explaining the often confusing but critical role GSEs play in the housing market.

"California's housing and real estate market is currently in a precarious state," Singer said. "We have just recently begun to see an increase in home sales, and the most significant, reliable source of home loans in California today are either financed by Fannie Mae or Freddie Mac. Their role is to provide continuous and competitively priced capital to the mortgage markets in both up and down markets and to promote homeownership and affordability.

"When private lenders have not been able to participate in the market, Fannie and Freddie historically have been there," he said. "They've been there with affordable mortgages and they've also been there with innovative programs, particularly for low-income and first-time buyers."

To view the complete video interview with Joel Singer, go to http://www.car.org/newsstand/video-js-gse.