The White House believes that the current housing finance system, where the government guarantees more than 80 percent of all mortgages through Fannie Mae, Freddie Mac and FHA, is unsustainable.
When Wells Fargo recently pulled the plug on its remaining loan-production joint ventures, it downplayed the significance of the move, explaining that in the scheme of things these unique partnerships mostly with real estate companies account for just 3 percent of its total production. But for some of the eight JVs that were shoved aside, it could be a big deal because it means they may now have to find either a new partner or raise additional capital. Still, not all of the JVs are fretting...