Syron Discusses Housing Issues on Bloomberg

Freddie Mac Chairman and CEO Richard F. Syron appeared on Bloomberg TV on July 19th. During the interview, he discussed the subprime crisis, as well as the impact on the broader housing market and the economy in general. He also talked about what can be done to help borrowers struggling facing payment shock.

Syron discussed Freddie Mac’s response to the subprime issue. Early this year, Freddie Mac announced that it was toughening underwriting standards for the subprime loans the company invested in and that it was developing more consumer-friendly mortgage products to help lenders better serve borrowers with impaired credit. The goal is to protect future borrowers from the payment shock that could occur when their adjustable rate mortgages increase.