Freddie Mac (FMCC.OB) resisted allowing mortgage-borrowers to refinance to cheaper loans partly...

|About: Freddie Mac (FMCC)|By:, SA News Editor

Freddie Mac (FMCC.OB) resisted allowing mortgage-borrowers to refinance to cheaper loans partly due to concerns the move would hurt profits and prevent it from paying back its bailout, a ProPublica investigation finds. More aggressive refinancing from Freddie and Fannie Mae (FNMA.OB) could have helped an extra 9M people and saved them almost $75B in interest payments, economist Christopher Mayer estimates.