- $200 billion for Fannie Mae [FNM 0.43 --- UNCH (0) 
] and Freddie Mac [FRE 0.27 --- UNCH (0) ] . The Treasury will inject up to $100 billion into each institution by purchasing preferred stock to shore up their capital as needed. The deal puts the two housing finance firms under government control.
- $300 billion for the Federal Housing Administration to refinance failing mortgage into new, reduced-principal loans with a federal guarantee, passed as part of a broad housing rescue bill.
- $4 billion in grants to local communities to help them buy and repair homes abandoned due to mortgage foreclosures.
more
Read More: CNBC
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