An investigation by ProPublica and NPR News has revealed Freddie Mac, the taxpayer-owned mortgage giant, has placed multi-billion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates. Freddie began increasing these bets dramatically in late 2010, the same time that the company was making it harder for homeowners to get out of such high-interest mortgages.
Report: Freddie Mac Bet Against American Homeowners
HeadlineJan 30, 2012