Plan to allow US mortages with 3% down payment seen as reckless
Mon, Nov 17, 2014 - 5:50 AM
MEL Watt, director of the Federal Housing Finance Agency, has set off a political tempest. The cause: 3 per cent down mortgages. Mr Watt, who oversees Fannie Mae and Freddie Mac, unveiled his plan in late October to allow the companies to back mortgages with down payments as...