Morning Brief: Fannie, Freddie Attack Foreclosures
Fannie Mae and Freddie Mac are at the forefront of the national economic story again. The two mortgage giants are an integral part of a government plan unveiled on Tuesday to help delinquent borrowers out of foreclosure.
The new program ushers in a more simplified process for determining who is eligible for a new loan, focusing on the borrower's income and how much he or she can afford to pay. The program also creates a formula for determining what a homeowner can afford, eliminating some guesswork. Check out all of the details here.
Metro officials are scheduled to ask a federal judge on Wednesday to temporarily bar a Belgian bank from collecting $43 million from the cash-strapped transit agency. The bank is demanding the payment because its long-term financing agreement with Metro has unraveled, as it was backed by the insurance giant AIG.
The World Bank plans to move to a new building in the winter or early spring of 2010, according to the building's owner, New York-based Brookfield Properties.
Brookfield said it signed a 10-year lease for 100 percent of the office space at 1225 Connecticut Ave. NW, a deal that totaled 227,000 square feet.
Brookfield Properties performed a complete renovation and redevelopment of the building, investing $32 million to upgrade the property.
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