Congressman Dennis Cardoza, with the help of Mark Zandi, introduces a revised bill that hopes to...

|By:, SA News Editor

Congressman Dennis Cardoza, with the help of Mark Zandi, introduces a revised bill that hopes to use the government's conservatorship of Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) to stabilize the foreclosure crisis. The plan would see Fannie/Freddie issuing new mortgage-backed securities to fund penalty-free mortgage refinancings, and using the proceeds to pay off the existing mortgages. Abracadaver.