Freddie To Stop Buying New York State Subprime Mortgages

By: Jann Swanson • Tue, Aug 12 2008, 7:00 AM

According the Dow Jones, Freddie Mac has announced that they will not longer be purchasing subprime mortgages secured by properties in the state of New York. This includes all mortgages with a note date on or after Sept 1.

More to follow...