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"Ultimately, Truth Prevails" |
| In the News | ||
| Friday May 18th 2018 | ||
| Fannie Mae Advocacy Ban Doesn't Stop Lawyer From Pushing Views - Bloomberg | ||
| GOP to investigate Fannie Mae's reported lobbying violation - Washington Examiner | ||
| Hensarling: ‘Congress Must Enact Sustainable Housing Finance Reform’ - DS News | ||
| Thursday May 17th 2018 | ||
| New filing in the Fairholme case, click here to view. Peter Chapman writes, "The government is asking Judge Sweeney, as she did in the Rafter case, to stay briefing on the question of joining the GSEs to the litigation until 14 days following her decision on the government's motion to dismiss. Fairholme doesn't oppose the request." | ||
| White House Could Preempt Congress' Inaction on GSEs - Mortgage News Daily | ||
| "Rep. Hensarling on what he wants to see new FHFA Director -- or legislation -- do with GSEs..." via @zigassoc - Twitter | ||
| Bill Ackman Comments on Fannie Mae and Freddie Mac - gurufocus.com | ||
| Jeb Hensarling says he won’t seek Trump nomination, will return to Texas - Washington Examiner In making his remarks, Hensarling took himself out of consideration to become the regulator in charge of the bailed-out mortgage giants Fannie Mae and Freddie Mac, which he has pushed to reform." | ||
| Wednesday May 16th 2018 | ||
| Ten Years of Conservatorship: The Status of the Housing Finance System - senate.gov Occurs Wednesday, May 23, 2018 | ||
| Coming Uniform MBS Could Have Side Effects for Fannie Mae - Inside Mortgage Finance | ||
| Tuesday May 15th 2018 | ||
| New filing in the Saxton case, click here to view. Peter Chapman writes, "The Saxton Plaintiffs sent a letter to the Eighth Circuit yesterday urging the Court not to embrace the Seventh Circuit's Roberts decision as quickly as FHFA encourages." | ||
| New recording in the Saxton case. Peter Chapman writes, "The Saxton case was argued before the Eighth Circuit this morning, and an audio recording of the 40-minute hearing is available at http://media-oa.ca8.uscourts.gov/OAaudio/2018/5/171727.MP3 at no charge." | ||
| "Fed vice chair nominee Richard Clarida on Fannie, Freddie conservatorship..." via @josephlawler - Twitter | ||
| Fannie Mae Announces Sale of Non-Performing Loans - PR Newswire | ||
| Eighth Circuit Hears Dispute Over Mortgage Profits - Courthouse News Service | ||
| Trump administration officially nominates Michael Bright to lead Ginnie Mae - HousingWire | ||
| Monday May 14th 2018 | ||
| Freddie Mac adds John Krenitsky as SVP, chief compliance officer - HousingWire | ||
| GSE Credit Window for Purchase Loans Opened Slightly in 1Q18 - Inside Mortgage Finance | ||
| Friday May 11th 2018 | ||
| New filing in the Jacobs and Hindes case, click here to view. Peter Chapman writes, "FHFA sent the Third Circuit a letter advising the court about the Seventh Circuit's decision affirming dismissal of the Roberts Plaintiffs' lawsuit." | ||
| New filing in the Fairholme case, click here to view. Peter Chapman writes, "Fairholme filed a redacted copy of its amended complaint in the U.S. Court of Federal Claims this evening." | ||
| Incumbents Beware: Mortgage Market Conditions Can Tip the Next Election - Investors Unite | ||
| How Will Delays in GSE Reform Impact Housing? - The MReport | ||
| FHFA releases plan to increase access to credit for limited English proficiency borrowers - HousingWire | ||
| Thursday May 10th 2018 | ||
| New filing in the Fairholme case, click here to view. Peter Chapman writes, "Mirroring the Rafter Plaintiffs' request, Fairholme ask Judge Sweeney to join Fannie Mae and Freddie Mac as nominal defendants in its lawsuit against the government." | ||
| New notation in the Fairholme case. Peter Chapman writes, 'The Court Clerk made a notation on the docket sheets in Fairholme v. U.S., Arrowwood v. U.S., Cacciapalle v. U.S., Fisher v. U.S., Rafter v. U.S., and Washington Federal v. U.S., this afternoon saying, "On May 9, 2018, the court received a written ex parte communication--a letter--from a Fannie Mae/Freddie Mac shareholder. The court did not read the letter; instead, it directed the clerk of court to return the letter to the shareholder. The court has not, and will not, entertain ex parte communications from Fannie Mae/Freddie Mac shareholders."' Peter Chapman continues, "The Court Clerk made a similar notation today on the docket sheets in Akanthos v. U.S., Appaloosa v. U.S., CSS v. U.S., Mason Capital v. U.S., and Owl Creek v. U.S." | ||
| New filing in the Appaloosa case, click here to view. Peter Chapman writes, "Judge Sweeney entered an order this morning granting Appaloosa's request to amend its complaint to add Palomino as a plaintiff." | ||
| 2nd filing in the Appaloosa case, click here to view. Peter Chapman writes, "Appaloosa formally filed its First Amended Complaint this afternoon." | ||
| New filing in the Rafter case, click here to view. Peter Chapman writes, "Judge Sweeney entered an order this morning placing the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on hold until 14 days after she rules on the government's omnibus motion to dismiss." | ||
| New filing in the Bhatti case, click here to view. Peter Chapman writes, "Treasury delivered a copy of the Seventh Circuit's decision upholding dismissal of the Roberts Plaintiffs' lawsuit to Judge Schiltz today." | ||
| New filing in the Rop case, click here to view. Peter Chapman writes, "Treasury delivered a copy of the Seventh Circuit's decision in Roberts v. FHFA to Judge Maloney today, urging him to follow the Seventh Circuit's reasoning and dismiss the Rop Plaintiffs' lawsuit." | ||
| Appellate court: Fannie, Freddie investors can’t sue federal agency for diverting profits to US Treasury - Cook County Record | ||
| RBS reaches $4.9 billion deal to settle U.S. mortgage bond investigation - Reuters | ||
| Wednesday May 9th 2018 | ||
| New filing in the Saxton case, click here to view. Peter Chapman writes, "FHFA advised the Eight Circuit yesterday about the government's recent victory in the Seventh Circuit." | ||
| New filing in the Jacobs and Hindes case, click here to view. Peter Chapman writes, "Messrs. Jacobs and Hindes have asked the Third Circuit to entertain oral argument." | ||
| New filing in the Appaloosa case, click here to view. Peter Chapman writes, "With the government's consent, Appaloosa is amending its complaint to add Palomino Fund Ltd. as a plaintiff in its lawsuit challending the Net Worth Sweep." | ||
| New filing in the Collins case, click here to view. Peter Chapman writes, "FHFA alerted the Fifth Circuit yesterday about the government prevailing in the Seventh Circuit." | ||
| New filing in the Rafter case, click here to view. Peter Chapman writes, "Our government wants Judge Sweeney to place the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on hold until she has ruled on its omnibus motion to dismiss. Alternatively, the government suggests that it respond to the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on Jan. 18, 2019, which is 30 days after briefing on the omnibus motion to dismiss concludes." | ||
| GSE Reform Is Dead – Long Live GSE Reform! - Urban Institute | ||
| Will Trump win in 2020? Look to the mortgage market - The Hill | ||
| Tuesday May 8th 2018 | ||
| New filing in the Voacolo case, click here to view. Peter Chapman writes, "Judge Martinotti entered an order last week granting FHFA and Treasury's motions to dismiss Mr. Voacolo's complaint because he didn't file any response." | ||
| Fannie Mae Promotes Kimberly Johnson From Chief Risk Officer To COO - Forbes | ||
| What the $15 Billion Rescission Proposal Could Mean for Housing and Community Development - novoco.com | ||
| Monday May 7th 2018 | ||
| GSE Investors Lose Roberts Case - Seeking Alpha by Glen Bradford | ||
| Freddie Mac Is Quietly Helping Out the U.S.'s New Mortgage Kings - Bloomberg | ||
| Fannie Mae and Freddie Mac press further into rental housing - Financial Times | ||
| GSE Mission Drift - American Action Forum | ||
| Figuring Out Who Might Succeed Mel Watt as FHFA Director – It’s Complicated… - Inside Mortgage Finance | ||
| Sunday May 6th 2018 | ||
| Slow Going, Not Many GSE Cats and Dogs - Bill Maloni's GSE Blog | ||
| Friday May 4th 2018 | ||
| Karen Petrou on Why Treasury Will Recraft Housing Finance - fedfin.com | ||
| BRIEF-Fannie Mae Announces Fourth And Fifth Front-End Credit Insurance Risk Transfer Transactions - Reuters | ||
| Thursday May 3rd 2018 | ||
| New filing in the Voacolo case, click here to view. Peter Chapman writes, "Magistrate Goodman entered an order this morning allowing FHFA to intervene in Mr. Voacolo's lawsuit." | ||
| New filing in the Roberts case, click here to view. Peter Chapman writes, "The Seventh Circuit released its opinion today affirming the District Court's ruling dismissing the Roberts Plaintiffs' lawsuit." | ||
| A View on Affordable Housing - Howard on Mortgage Finance | ||
| Another Year, Another Reminder the Net Worth Sweep Must End - Investors Unite | ||
| Fannie Mae Reports Net Income of $4.3 Billion and Comprehensive Income of $3.9 Billion for First Quarter 2018 - fanniemae.com | ||
| Fannie Mae reports comprehensive income of $3.9 billion - HousingWire | ||
| BRIEF-Fannie Mae Posts Quarterly Net Interest Income Of $5.23 bln - Reuters | ||
| Fannie Mae's (FNMA) CEO Tim Mayopoulos on Q1 2018 Results - Earnings Call Transcript - Seeking Alpha | ||
| Fannie Mae Moves in a Positive Direction - The MReport | ||
| Fannie Mae Has a Blowout 1Q18, Will Make a $938M Dividend Payment to Treasury - Inside Mortgage Finance | ||
| FHFA Updates Progress on Fannie Mae and Freddie Mac Credit Risk Transfer Programs - fhfa.gov | ||
| NAR Sees $6.5B in GSE Profits and Asks the FHFA for Reductions in G-Fees, More - Inside Mortgage Finance | ||
| Short Takes: Investors Unite: Mel Watt is the Only One ‘Tuned into Reality’... - Inside Mortgage Finance | ||
| Wednesday May 2nd 2018 | ||
| “Looking at” GSE Reform for Ten Years – and Counting - Investors Unite | ||
| Freddie Mac CEO: Our Greatest Innovation Is Credit Risk Transfer - GlobeSt.com | ||
| Tuesday May 1st 2018 | ||
| Freddie Mac Reports Net Income of $2.9 Billion and Comprehensive Income of $2.2 Billion for First Quarter 2018 - freddiemac.com | ||
| Freddie Mac Q1 earnings increase driven by tax reform - HousingWire | ||
| Freddie Mac's (FMCC) CEO Don Layton On Q1 2018 Results - Earnings Call Transcript - Seeking Alpha | ||
| Fannie Mae CEO on potential privatization - Fox Business Video | ||
| "@RepHensarling on housing finance: Favor Ginnie Mae like wrap over private label RMBS and phase out (not liquidate) $FNMA/$FMCC..." via @apark_ | ||
| The GSE Reform Bust Blues: Worrying About Mel Watt’s (Potential) Successor at the FHFA - Inside Mortgage Finance | ||
| BRIEF-Fannie Mae Prices $1.05 Bln Connecticut Avenue Securities Risk Sharing Deal - Reuters | ||
| Mnuchin: GSE reform isn’t happening in 2018 - HousingWire | ||
| Freddie Mac's risk-sharing success may help lower G-fees - National Mortgage News | ||
| Freddie Mac grows multifamily guarantee portfolio by 30% in one year - HousingWire | ||
| Monday April 30th 2018 | ||
| New filings in the Jacobs and Hindes case. 17-3794-0018 17-3794-0019 Peter Chapman writes, "Treasury and FHFA filed their briefs in the Third Circuit last week." | ||
| New filing in the Rafter case, click here to view. Peter Chapman writes, "The Rafter Plaintiffs ask Judge Sweeney to join Fannie Mae as a nominal defendant to their lawsuit in the U.S. Court of Federal Claims against the government. The Rafter Plaintiffs tell Judge Sweeney that joinder is necessary at this time for the court to properly consider the Rafter Plaintiffs' derivative shareholder claims. The government has advised the Rafter Plaintiffs it opposes the request, saying it is premature, and Fannie Mae's indicated it opposes the request." | ||
| Mnuchin on the future of Fannie Mae and Freddie Mac - Fox Business Video | ||
| Treasury unveils ‘fix’ for restoring Fannie Mae, Freddie Mac - Fox Business | ||
| Steven Mnuchin: Legislation on Fannie, Freddie won't happen this year - Washington Examiner | ||
| GSE reform unlikely to happen this year: Mnuchin - American Banker | ||
| Mnuchin wants GSE reform in 2019. There's a problem with that - American Banker | ||
| Analyst Now Sees Less Than 10% Chance Congress Tackles Fannie, Freddie Reform This Year - benzinga | ||
| Fannie Mae Announces Scheduled Release of First Quarter 2018 Financial Results - markets.businessinsider.com "Fannie Mae today announced plans to report its first quarter 2018 financial results on Thursday morning, May 3, 2018, before the opening of U.S. financial markets." | ||
| Friday April 27th 2018 | ||
| New Mortgage Bonds May Prove a Double-Edged Sword for Investors - Bloomberg | ||
| What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie... - Inside Mortgage Finance | ||
| Thursday April 26th 2018 | ||
| Redacted Complaint Analysis Reveals Clues About GSE Discovery Material - Seeking Alpha by Glen Bradford | ||
| US housing: how Fannie Mae and Freddie Mac became rental powerhouses - Financial Times | ||
| Freddie Mac takes aim at FHA with widespread expansion of 3% down mortgages - HousingWire | ||
| Wednesday April 25th 2018 | ||
| New filing in the Owl Creek case, click here to view. Peter Chapman writes, "To keep her docket tidy, Judge Sweeney entered an order this afternoon denying the government's request for the 66-day extension as moot." | ||
| Sen. Crapo Says GSE Reform Still Possible in This Congress (You Heard That Right) - Inside Mortgage Finance | ||
| Blog: GSE reform remains elusive - Scotsman Guide | ||
| Tuesday April 24th 2018 | ||
| New filings in the Owl Creek case. 18-00281-0008 18-00281-0009 Peter Chapman writes, "The government's responses to Owl Creek, Appaloosa, Akanthos, CSS and Mason Capital's complaints were technically due today. Without objection from the five shareholders, the government obtained a 66-day extension to file its responses to the five latest shareholder lawsuits. A copy of the government's request is (linked above), as well as Judge Sweeney's order placing the five lawsuits on the same timetable as the other cases pending before her." | ||
| "Mark Warner addresses Fannie/Freddie at ABA meeting..." via @josephlawler - Twitter | ||
| Stars May be Aligned for Strong Profits at Fannie and Freddie - Inside Mortgage Finance | ||
| The Fed is not in the mood for ferocity, says former vice chairman Blinder - MarketWatch | ||
| Monday April 23rd 2018 | ||
| New filing in the Owl Creek case, click here to view. Peter Chapman writes, "Owl Creek, Appaloosa, Akanthos, CSS and Mason Capital ask Judge Sweeney to place their lawsuits on the same timetable as the other cases pending before the U.S. Court of Federal Claims. The government has indicated that it supports the request, and the the GSE shareholders have agreed not to amend their complaints." | ||
| Fannie Mae Announces Updates to its Mortgage-Backed Securities (MBS) Prospectus to Support Connecticut Avenue Securities (CAS) REMIC - PR Newswire | ||
| Sam Khater named vice president and chief economist at Freddie Mac - HousingWire | ||
| Friday April 20th 2018 | ||
| New filing in the Rafter case, click here to view. Peter Chapman writes, "The Rafter Plaintiffs filed a redacted version of their second amended complaint this afternoon in the U.S. Court of Federal Claims. The Rafter Plaintiffs discuss, at pp. 25-36, the government abandoning its commitment to restore the GSEs safety and solvency and its 2011 proposal to wind the GSEs down; Fannie and Freddie's record profit projections that followed that change; and the imposition of the Net Worth Sweep in 2012; and, at pp. 44-47, the Fourth Amendment to the PSPAs. The Rafter Plaintiffs include a new claim for relief, at pp. 57-58, asking Judge Sweeney to reform the Third Amendment and undo the damage done to GSE shareholders." | ||
| Housing Finance Reform: A Better Way (Mutalization of Risk Among Investors, Just Not The Federal Government) - confoundedinterest.net | ||
| House Examines GSE Conservatorship, but Reform Remains Stalled - The Collingwood Group: Voice of Housing | ||
| Thursday April 19th 2018 | ||
| FHFA Under Pressure to Act More Like a Bank Regulator with Fannie & Freddie - Inside Mortgage Finance | ||
| "Fed Vice Chairman Quarles says a government backstop is "probably not" essential to keep the 30-year fixed rate mortgage" via @Zachary - Twitter | ||
| Fed’s Quarles: 30-year fixed-rate mortgage ‘probably’ doesn’t need government backstop - MarketWatch | ||
| U.S. Fed buys $2.3 bln of mortgage bonds, sells $400 mln - nasdaq.com | ||
| Wednesday April 18th 2018 | ||
| MBA Casts the Net Far and Wide for New Chief. Jeb Hensarling? - Inside Mortgage Finance | ||
| Tuesday April 17th 2018 | ||
| Fannie and Freddie survive another Congress - Washington Examiner | ||
| Duck Folks, they are throwing marshmallows at us! - Bill Maloni's GSE Blog | ||
| Fannie Mae and Freddie Mac Continue to Dominate Apartment Lending - National Real Estate Investor | ||
| Monday April 16th 2018 | ||
| New filing in the Bhatti case, click here to view. Peter Chapman writes, "The Clerk released a transcript of the Dec. 21 hearing before Judge Schiltz to the public late last week. The court docket shows that copies of the transcript were requested by (i) FHFA's lawyers at Arnold & Porter; (ii) counsel to Mr. Bhatti; (iii) James Wasicek at Covington & Burling; (iv) Antonio Grassia in Manhattan; (v) Christine ChaseCarpino at Robbins, Russell, Englert, et al.; and (vi) Shary Kapoor at Silver Point Capital while it was embargoed for 120 days." | ||
| Lawmakers examine FHFA effectiveness - Financial Regulation News | ||
| Pershing Square Doubles Down on its GSE Bets - Inside Mortgage Finance | ||
| Friday April 13th 2018 | ||
| New note in the Saxton case. Peter Chapman writes, "The Eighth Circuit has scheduled oral argument for Tues., May 15, 2018, in St. Paul, Minn., before Judges Duane Benton, Jane Kelly and David R. Stras." | ||
| New filing in the Fannie/Freddie Consolidated Class Action case, click here to view. Peter Chapman writes, "Fairhome and Arrowood tell Judge Lamberth that FHFA is mistaken, and ask him for permission to file a short surreply directing the Court's attention to the six specific allegations in their amended complaints that, consistent with the D.C. Circuit's decision in Perry, say shareholders' contract claims are ripe." | ||
| 2nd filing in the Fannie/Freddie Consolidated Class Action case, click here to view. Peter Chapman writes, "FHFA opposes Fairholme and Arrowood's request to file a surreply." | ||
| OIG says FHFA Practices Need Improvement, Lots of It. - Mortgage News Daily | ||
| Thursday April 12th 2018 | ||
| House Hearing Questions FHFA’s Oversight of Fannie, Freddie. IMAGIN? - Inside Mortgage Finance | ||
| Congress Must Protect Taxpayers From The Menace Of Fannie And Freddie - The Daily Caller | ||
| Regulators are fueling another housing boom - American Banker | ||
| Oral Argument Bhatti v. FHFA - Dropbox | ||
| Wednesday April 11th 2018 | ||
| A new lawsuit has been filed, Mason Capital v. United States. Click here to view. Peter Chapman writes, "Mason Capital L.P. and Mason Capital Master Fund L.P. filed a lawsuit against the government in the U.S. Court of Federal Claims today. Mason Capital is represented by the same team of Jones Day lawyers representing Owl Creek, Appaloosa, Akanthos and CSS. Mason Capital owned more than $1.1 billion of junior preferred stock in the GSEs as of Aug. 16, 2016. Because this case is related to the other cases complaining about the Net Worth Sweep, it's been assigned to Judge Sweeney." | ||
| New filing in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations, click here to view. Peter Chapman writes, 'FHFA tells Judge Lamberth to ignore the Class Plaintiffs' proposed surreply because they're not entitled to a "do over."' | ||
| The Final Nail in the GSE Reform Coffin: Creation of the $3B Capital Buffer? - Inside Mortgage Finance | ||
| The wasteful spending at Fannie Mae and Freddie Mac must end - The Hill | ||
| Where are the GSEs 10 Years After the Financial Crisis? - American Action Forum | ||
| Fannie Mae’s Jeffery Hayward Talks Affordable Housing, Millennials and Zoning - Commercial Observer | ||
| Tuesday April 10th 2018 | ||
| GSE Receivership Avoided - Seeking Alpha by Glen Bradford | ||
| Home buyers taking on more debt - Seeking Alpha | ||
| Analysts expect to give high credit rating to GSE successors - National Mortgage News | ||
| Congressional Reforms to Federal Mortgage Providers Would Affect Interest Rates, Loans - fcnp.com | ||
| Monday April 9th 2018 | ||
| Minneapolis Fed's TBTF plan has some GSE-sized holes - American Banker | ||
| Government Policy Mistakes Led to the Great Recession - economics21.org The article contains a brief GSE mention. | ||
| Bankers push for less regulation - Long Island Business News | ||
| Friday April 6th 2018 | ||
| Hearing entitled “Oversight of the Federal Housing Finance Agency” - house.gov Occurs Thursday, April 12, 2018 10:00 AM | ||
| "another important player moving over to Freddie..." via @ARiquier - Twitter | ||
| Thursday April 5th 2018 | ||
| New filing in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations, click here to view. Peter Chapman writes, "The Class Plaintiffs delivered a proposed surreply to Judge Lamberth this afternoon to clarify that, although FHFA wants to argue that shareholders' claims aren't ripe for consideration, they're ripe because the Net Worth Sweep eviscerated shareholders' economic interests in their securities and because the D.C. Circuit said they are ripe in the Perry decision." | ||
| What Fueled the Financial Crisis? - Urban Institute An Analysis of the Performance of Purchase and Refinance Loans | ||
| How Freddie Mac Rejuvenates and Diversifies ‘Mom-and-Pop’ Building Owners - nextcity.org | ||
| GSE Market Thuds to a Two-Year Low in 1Q18 - Inside Mortgage Finance | ||
| Wednesday April 4th 2018 | ||
| Trouble Brewing for Fannie and Freddie in High DTI Market? - Inside Mortgage Finance | ||
| Christopher Herbert Elected to Freddie Mac Board of Directors - The MReport | ||
| Tuesday April 3rd 2018 | ||
| Government Controlled Companies Got A $4 Billion Bailout Last Week – And Nobody Noticed - The Political Insider | ||
| "Per @MarkCalabria this morning: 1) too many barriers currently for legislative reform- maybe over next Congress..." via @JohnDee78791547 - Twitter | ||
| The Vampire’s Kiss: Seizure of Fannie Mae and Freddie Mac Hurt Small Investors Too Such As Small Banks (Puerto Rico Analogy) - confoundedinterest.net | ||
| Ackerman’s Take: Fannie-Freddie Deal Unlikely This Year - The Wall Street Journal Subscription required for access. | ||
| The Policy Makers - DS News | ||
| Investors Remain Bullish on GSEs’ Credit Risk Transfer Program - The MReport | ||
| Monday April 2nd 2018 | ||
| Gary Hindes received a letter from a Kansas bank about their stock holdings in the GSEs. Mr. Hindes writes, "“In response to my article last week in the American Banker (https://www.americanbanker.com/opinion/this-isnt-a-bailout-this-is-return-of-stolen-funds), I received a letter from the president of a small-town bank in rural Kansas. I have been given permission to share it." (Link to Letter). Mr. Hindes continues, 'Most people are unaware of the fact that after Treasury Secretary Henry Paulson showed up at Fannie Mae headquarters on September 6, 2008 with his bazooka, 15 community banks were seized by the FDIC after being forced to write off their Fannie and Freddie preferred stock holdings – their shareholders were, of course, wiped out. (Fortunately, the dozens of other community banks which also held Fannie and Freddie securities had enough capital to withstand the write-down – although that meant billions of dollars were no longer available to lend in their local communities.) Ironically, after closing the 15 banks, the FDIC, as Receiver, aggregated their Fannie and Freddie holdings and sold them, at deep discounts, to the very hedge funds which Treasury, DOJ, and the GSE-haters have ever since demonized as “speculators”.' | ||
| Apathy Setting in on GSE Legislation. Industry Focus Shifts to Reg Reform - Inside Mortgage Finance | ||
| Fannie Mae Completes 2018’s First Credit Insurance Risk Transfer - DS News | ||
| Trump to nominate ex-banker Muzinich to top Treasury role - Politico "As deputy secretary, (Muzinich is) expected to focus on implementation of the tax plan, housing finance reform, international affairs and other key Treasury agenda items." | ||
| Five Star Government Forum Unites Banking and Government Leaders - DS News | ||