Monday, September 8, 2008
Delay going live due to Fannie Freddie News
As many of you know, the U.S. Federal Reserve took control of Fannie Mae and Freddie Mac over the weekend adding more fuel to an already volatile market. We have made the decision to wait until things calm back down before going live on our trading accounts. We anticipate going live Tuesday afternoon. I highly recommend you read the link above to the story about the Fed intervention. We are seeing historic moves by the Fed that will have dramatic impacts on mortgage industry since Fannie and Freddie "make up almost half of the $12 trillion U.S. mortgage market."