Thursday December 31st 2015 |
The Largest Investor in GSE Common (Pershing Square) Still Seems Bullish, but… – Inside Mortgage Finance
Registration required, but it’s free to register. |
Wall Street Journal op-ed ethers ‘toxic twins’ Fannie Mae, Freddie Mac – HousingWire |
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Wednesday December 30th 2015 |
Greedy Ass Retired Cops…STFU About the GSEs – Medium |
Peter Wallison still isn’t coming around – GlenBradford.com |
Fannie and Freddie Forever – WSJ |
Opinion Journal: Fannie Mae’s ‘Risk-Free’ Bonds – WSJ Video |
How does housing work in America? Fannie buys All of it. 2015 – Fannie Mae Shareholders Blogspot |
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Tuesday December 29th 2015 |
Fannie and Freddie Give Birth to New Mortgage Bond – WSJ |
Fannie and Freddie: New Bonds With an Old Twist – WSJ |
New Mortgage Securities Are Growing Business For Fannie, Freddie: WSJ – Barrons |
Fannie, Freddie give birth to new mortgage bond – Seeking Alpha |
Wall Street Breakfast: Santa Claus Rally Not Off The Table Yet – Seeking Alpha |
Regulators Shouldn’t Rubber-Stamp Banks’ CRA Efforts – American Banker
A brief GSE mention. |
A nice timeline of the major court cases from ‘obiterdictum’ – iHub |
Is The Nonagency RMBS Market An Unloved Orphan? – Seeking Alpha |
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Monday December 28th 2015 |
Better Markets Goes to Court to Prevent Attempts by Certain Shareholders of Fannie Mae and Freddie Mac to Put Taxpayers on the Hook for their Losses – Better Markets |
Maloni and Wallison Debate The GSEs – Fiderer on GSEs Blog |
Martin Fridson Embraces The Big Lie To Challenge The Big Short – Fiderer on GSEs Blog |
Fannie, Freddie Face Challenging Road on Rural Multifamily Goals – National Mortgage News |
Lawless: The Obama Administration’s Unprecedented Assault on the Constitution and the Rule of Law – CATO Institute |
Glen Bradford and Peter J. Wallison exchange emails – GlenBradford.com |
03/27/2014 – Maybe … Freddie and Fannie weren’t the Main Cause of the Mortgage Crisis – Better Markets |
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Sunday December 27th 2015 |
Fannie and Freddie Here To Stay – Banker and Tradesman
Registration required. |
Tampa Bay nonprofits rehabbing foreclosed homes under federal program – The Tampa Tribune |
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Friday December 25th 2015 |
How to rob a bank (from the inside, that is) – ted.com
A brief GSE mention, but more of a look at how the TBTF banks operate. |
Forecast: Mortgage rates won’t rise, Fan-Fred will survive – ocregister.com |
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Thursday December 24th 2015 |
Merry Christmas From Senators Reid,Schumer and Brown Edit 1 12/24 Ethan – timhoward717.com |
FHFA Duty to Serve Webinar Presentation – fhfa.gov |
Is the Shady Stuff From “The Big Short” Era Still Going On? – time.com
“We’ve nationalized a system that isn’t supposed to be nationalized and that is not sustainable” |
12/16/2008 – Sen. Corker – $577 mil for Volkswagen, $0 for the Big 3! – Daily Kos |
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Wednesday December 23rd 2015 |
Fannie And Freddie Have Made $15B/annum Combined Since Conservatorship Started – Seeking Alpha by Glen Bradford |
Fanniegate: The first sound they’ll hear is their heads hitting the floor – Amazon
eBook by Glen Bradford |
Congressional Record: On January 2, 2018, FHFA Director Mel Watt may release GSEs from conservatorship – Fiderer on GSEs Blog |
Maine Voices: Proposal to reduce shortage of affordable housing could benefit Mainers – Portland Press Herald |
White Paper Raises a Thorny Issue: Could Fannie Mae Have Avoided Conservatorship? – Inside Mortgage Finance
Registration required to read the full article.
The White Paper was linked on this site on 10/24 and can be found here. |
Anyone still watching FNMA? – Reddit |
08/01/2011 – MBA Head Cozy with Banks While at the FHA – American Banker |
08/21/2006 – GOP Candidate for US Senate (TN) Sued for Profiting Off Environmental Crime – Blogspot |
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Tuesday December 22nd 2015 |
‘Jumpstart GSE Reform’ will only prolong the conservatorships of Fannie and Freddie – The Hill
By Tim Pagliara |
FHFA, Corker, THE BIG LIE! #FannieGate – Fannie Mae Shareholders Blogspot |
Fannie Mae And Freddie Mac: Does The Budget Bill Matter? – Seeking Alpha |
Words in bold near the end contradict what defendants said in yesterday’s Perry filing… – GlenBradford.com |
Consolidated Appropriations Act, 2016 – congress.gov
The GSE discussion starts at Section 702 in Division O.
Sen. Brown notes “Nor does this provision have any effect on the court cases and settlements currently underway challenging the validity of the third amendment.” |
Sen. Corker discusses the GSE Jumpstart Act – congress.gov
I linked to the Youtube video of Sen. Corker’s speech on Friday, 12/18. This is the transcript. |
White Paper Raises a Thorny Issue: Could Fannie Mae Have Avoided Conservatorship? – iHub via Inside Mortgage Finance |
A recipe for housing disaster – Washington Post
This was yesterday’s Washington Post piece about the GSEs. Bill Maloni commented on the article, however his comment has not yet been approved for the article, and probably never will. I have posted it here with Bill’s permission.
“The Post’s long held anti-GSE editorial positions are hardly new, but it might be a little more cautious in its choice of heroes. Monday’s editorial heaped praise Senator Bob Corker (R-Tenn.) to whom you give credit for tying the federal government’s hands, if the courts happen to rule for plaintiffs suing the government over its handling of Fannie Mae and Freddie Mac. Where were you–editorially or on the news front–when its was reported that Senator Corker had more than 900 personal stock transactions in 2014 not filed with the appropriate Senate offices. There were no references ever to that matter in the Post? Where were you when the Wall Street Journal and other media reported that Senator Corker was late in reporting his 2015 trades as well, despite earning millions of investment dollars in those two years? Where was the Post in reporting that Corker actively traded in many financial service companies with business issues–and therefore lobbyists–coming before Corker’s Senate Banking Committee? The answer is the Post had nothing on those two matters either. Maybe Post editors and writers should pay a little more attention to the junior Senator from Tennessee.” |
FHFA Moving Closer to Decision on Updating Fannie, Freddie Models – National Mortgage News |
Washington Post: Recapitalizing Fannie, Freddie is a ‘recipe for housing disaster’ – HousingWire |
Freddie Mac backstops more loans with massive insurance policies – HousingWire |
Why a 15% drop in FNMFM but not FNMA or FMCC? – Reddit |
Corkered Again “Trust Me” Edition – Video by @HousingPimp – Twitter |
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Monday December 21st 2015 |
Fiderer on GSEs and other stuff – fidererongses.blogspot.com
New blog from David Fiderer – added to the ‘Blogs’ section.
Here is the first post and the second post. |
from omnibus 2015 – Fannie Mae Shareholders Blogspot |
A recipe for housing disaster – Washington Post |
FHFA Just Made it Easier for GSEs to Offer Green Loans – GlobeSt.com |
Single Security and CSP Industry Advisory Group – fanniemae.com |
Individuals with Access to Protected Information in Fairholme v. U.S.
Updated from Saturday’s post. |
Housing Finance at a Glance December 2015 – urban.org |
GSEs Finish Credit Risk Sharing for 2015 on a Strong Note – DS News |
FHFA Opens Door for Insurers to Offer Deeper Loss Coverage – National Mortgage News |
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Saturday December 19th 2015 |
Fannie And Freddie Both Need To Stay ‘In’, Or The Housing Market Will Be ‘Out’ – Seeking Alpha |
Congress puts kibosh on Fannie share sales – NY Post |
Home mortgage lenders easing up on home loans – CNBC
GSEs not specifically mentioned. |
Individuals with Access to Protected Information in Fairholme v. U.S. |
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Friday December 18th 2015 |
Budget deal a blow to Frannie recapitalization advocates – Seeking Alpha |
Fannie Mae: Budget Deal Provisions Make “Recap And Release” All The More Distant – Valuewalk |
Not the Day for Fannie Mae – The Street |
Spending Bill Rocks ‘Sex and Violence’ Part of Ackman’s Portfolio – The Street |
Corker Applauds Inclusion of Jumpstart GSE Reform Provision in Omnibus – Youtube |
The Dream Of A Permanent Conservatorship For Fannie and Freddie Is A Fools Game Edit: CRITICAL UPDATE Jumpstart GSE is done deal 12/18 – timhoward717.com
With an update from yesterday’s post. |
MBA Commends Inclusion of Jumpstart GSE Reform Provision in Spending Bill – Real Estate Rama |
FICO: There is no Monopoly on the GSEs Credit Scoring Model – The MReport |
12-15 Rosner Teleconference Transcript – Scribd |
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Thursday December 17th 2015 |
Fannie Mae: Progressive Activists Oppose S. 2038, The “Jumpstart GSE Reform Act” – Valuewalk |
FHFA Releases 2016 Scorecard for Fannie Mae, Freddie Mac and Common Securitization Solutions – FHFA.gov |
FHFA releases 2016 goals for Fannie and Freddie – HousingWire |
Director Watt: GSEs Must Focus on Liquidity, Credit Access and Common Securitization in 2016 – DS News |
Old decision on GSEs may hamper Fed’s rate-hike effort – Reuters |
Insertion of Jumpstart Language in Spending Bill Will Not Impede Legal Action Against Sweep – Investors Unite |
Revolving Door Raises Ethics Questions in Housing Reform Debate – Inside Sources |
Fannie Mae CEO: Achieved things no one thought possible – CNBC Video |
Why Fannie Mae Revival Hopes Are Withering on Capitol Hill – WSJ |
Corker: Omnibus protects Fannie, Freddie from ‘Wall Street hedge funds’ – Washington Examiner |
Corker Statement on FHFA 2016 Scorecard – senate.gov |
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Wednesday December 16th 2015 |
Fannie And Freddie In The Dock: Will Shareholders Find Relief Under State Or Federal Law? – Forbes
By Richard Epstein |
Why Hindes/Jacobs Plaintiffs Will Prevail In The Fannie Mae And Freddie Mac Delaware Litigation (Part II) – Seeking Alpha |
Fannie And Freddie: In Or Out, Part 2 – Seeking Alpha |
Consolidated Appropriations Act, 2016 – house.gov
The Jumpstart GSE Reform Act made it into the Appropriations Bill. See page 1968.
Or see this comment from ‘matthill’ for the full text of the Jumpstart Act – timhoward717.com |
Corker Slips “Jump Start” Act in Omnibus Bill…..It’s Irrelevant – Valueplays |
Investors Unite: Jumpstart Does Not Prevent Settlement with Shareholders – Investors Unite |
Josh Rosner, Housing Policy Experts Call For Recapping and Reforming Fannie and Freddie, Oppose Jumpstart GSE Reform Language in Omnibus – PR Newswire |
Fannie Mae, Freddie Mac lower as spending bill blocks privatization – MarketWatch |
Federal spending bill makes recapitalization of Fannie, Freddie far less likely – HousingWire |
CHLA calls for GSE Recap per @JoeLight – Twitter |
The Dream Of A Permanent Conservatorship For Fannie and Freddie Is A Fools Game – timhoward717.com |
Fannie Mae – Jumpstart GSE Reform: Industry Experts & Consumer Advocates Express Grave Concerns – Valuewalk |
Proposed Rule Pushes More People to Fannie and Freddie, Increasing Taxpayer Risk – Townhall |
Omnibus Bill Bars Govt Sale of Fan, Fred Stock — Market Talk – iHub via Dow Jones Newswires |
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Tuesday December 15th 2015 |
GSE Reform: Something Old, Something New, And Something Borrowed – Valuewalk
78 page paper By Joshua Rosner.
Read the Executive Summary here – Scribd |
Listen to the Conference Call that occured today with Joshua Rosner – Twitter |
Fannie Mae And Freddie Mac Reform – New White Paper – Something Old, Somethng New, Something Borrowed – Valuewalk |
CfA Calls on DOJ to Investigate Obama Admin Officials for Revolving Door Violations – Campaign For Accountability |
Fannie Mae: CfA Calls For Investigation Into Three Ex Obama Admin Officials – Valuewalk |
Fannie Mae: Corker Fails To Disclose Millions In Income Since 2007 – Valuewalk
By Tim Pagliara |
Fixing Fannie and Freddie for Good – NY Times |
Fannie and Freddie called upon to securitize more low-income loans – HousingWire |
U.S. looks to expand financing in underserved housing markets – Yahoo |
FHFA Duty to Serve Webinar – eventbrite.com |
Senator Bob Corker joins growing list of Congressmen skirting financial laws – examiner.com |
Sen. Bob Corker earned millions more than first reported – timesfreepress.com |
Surveyed ABS Investors Want to Deep-Six Pricing Benchmark – structuredfinancenews.com
With comments from MBS analysts. |
Reform Before Recapitalization – David Stevens Blog
David Stevens responds to the NY Times article. |
Pershing Square Q3 Letter to Investors – pershingsquareholdings.com |
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Monday December 14th 2015 |
Tilson On Why He Is Long Fannie & Freddie – Tilson On Why He Is Long Fannie & Freddie – Valuewalk |
The Continuing Fight Over Fannie and Freddie, and the Real Problem of US Mortgages – nakedcapitalism.com |
Interesting tweet from @DoNotLose – Twitter |
Bonds, Plastic and Boiler Rooms – BloombergView
Scroll down to the Fannie and Freddie section. |
December 15 GSE Reform Media Call – PR Newswire
Occuring Tuesday at 9:30 am EST, with Joshua Rosner among others. |
‘Jumpstart GSE Reform’ Bill is Still Alive, With a Possible Sunset Provision – iHub via Inside Mortgage Finance |
Conservative and Progressive Opposition to the Jumpstart GSE Reform Bill – Investors Unite
Same article from Valuewalk. |
Fannie And Freddie: In Or Out – Seeking Alpha |
‘Sustainable’ Investing Strategist on Sectors to Watch in 2016 – The Street |
Corker acknowledges millions in ‘filing errors’ – politico |
Corker: ‘Filing Error’ to Blame For $2M Missing in Income – Newsmax |
Liberal “Republican” Busted Concealing Millions Of Dollars In Income – fitsnews.com |
Sen. Bob Corker earned millions more than first reported – USA Today |
Sen. Bob Corker earned millions more than first reported – The Tennessean
Read this one before it disappears! |
Fannie Mae: Corker’s Filing Errors Latest in a String of Unexplainable Behavior – Valuewalk |
Prominent Tennessee Senator Fails To Disclose Millions In Hedge Fund, Real Estate Investments – Zero Hedge |
Sen. Corker undervalued his wealth by millions – The Hill |
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Sunday December 13th 2015 |
Sen. Bob Corker Failed to Properly Disclose Millions of Dollars in Income – WSJ |
10/12/2008 – Private sector loans, not Fannie or Freddie, triggered crisis – mcclatchydc.com |
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Saturday December 12th 2015 |
Fannie and Freddie’s Government Rescue Has Come With Claws – NY Times
Another excellent article from Gretchen Morgenson |
Fannie and Freddie’s Propaganda War – WSJ
There are some good comments after the article. |
2 New Blockbuster Changes To Fannie Mae Loans – Forbes |
Oppose Misguided GSE Legislation (“Jumpstart GSE Reform Act”) in FY2016 Omnibus – civilrights.org |
GSE Critics Main Talking Points – with Bullshit-Free Rebuttal – GSE Opinions |
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Friday December 11th 2015 |
Affordable housing advocates on why conservatorship of Fannie, Freddie must end – HousingWire
by John Taylor, CEO of the NCRC |
Interesting tweet from @JoshARosner – Twitter |
Hensarling crafting bill to repeal ‘huge swaths’ of Dodd-Frank – The Hill
The panel also will restart work on a housing finance reform bill next year and may take a more piecemeal approach this time around.
“I haven’t abandoned all hope on getting some modest bipartisan progress done,” Hensarling said.
The chairman said he has talked with the Federal Housing Finance Agency (FHFA) as they continue to develop their securitization platform to ensure that it is “constructed in a way that could lay the foundation for whatever solution Congress comes up with.”
That could be some “bipartisan consensus potentially on a little bit more risk-sharing,” he said. |
Hensarling to Focus on Reg Reform, Terrorism Financing in 2016 – ABA Banking Journal |
Bruce Berkowitz: TBTF Banks Behind Fannie Mae & Freddie Mac Disinformation – Valuewalk |
Housing Trust Fund Update: Estimated Allocations by State – novogradac.wordpress.com |
Freddie Mac, ABA Renew Alliance to Help Banks Compete in Mortgage Market – marketwired.com |
Off The Lows! Rebound Picks For 2016 – Seeking Alpha |
Royce Introduces Bill to Break FICO ‘Monopoly’ for GSEs – National Mortgage News |
Call to End GSEs’ FICO-Only Credit Scoring Wins Bipartisan Support – The MReport |
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Thursday December 10th 2015 |
AAMA Adopts Resolution to Promote Homeownership – ourmayors.org
AAMA is the African American Mayors Association
“the Corporation calls on the Federal Housing Finance Agency and the Obama Administration to take the necessary actions to release Fannie Mae and Freddie Mac from conservatorship and allow them to rebuild their capital reserves” |
African American Mayors Association Calls For End of Conservatorship – Valueplays |
GSE Bullshit Summary – GSE Opinions |
Fannie and Freddie’s small gesture to struggling homeowners – MarketWatch |
Interesting tweet from @DoNotLose – Twitter
Also read this from ‘larsoncapitalgroup’ – timhoward717.com |
New House bill would end ‘FICO monopoly’ at Fannie Mae, Freddie Mac – HousingWire
Introduced, in part, by Rep. Ed Royce. |
Let’s hope this guy gets elected – Twitter |
Fannie Mae: What Happened to Greg Schwind???? – Valuewalk |
01/04/2011 – Information Memo for Secretary Geithner – documentcloud.org |
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Wednesday December 9th 2015 |
Big Wall Street Banks Want to Make Fannie Mae and Freddie Mac Go Poof! – habitatmag.com |
Fannie Mae: Housing Finance Reform Ignores Plight Of Middle-Income Earners; Cities Step Up – Valuewalk |
Fairholme Funds letter to investors – iHub |
Watt Tells Congress Conservatorship “Not Sustainable” – Investors Unite
Same article from Valuewalk. |
The Unending Morass of Housing Finance Reform – The Weekly Standard |
U.S. Said to Probe Possible Rigging in Agency Bond Market – Bloomberg |
GSEs’ low-downpayment programs have yet to make a splash – Scotsman Guide |
01/20/2011 – Banks Want Pieces of Fannie and Freddie’s Business – NY Times |
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Tuesday December 8th 2015 |
Individuals with Access to Protected Information in Fairholme v. U.S. – GlenBradford.com |
Delamaide: Limbo good place for Fannie, Freddie – USA Today |
“Revolving Door” Makes Fannie Mae Reform A Classic Game Of Insider Baseball – Valuewalk |
Big Banks Aim to Topple Fannie and Freddie – Rexe News |
Freddie Mac Sells $1.1 Billion of Seriously Delinquent Loans – Yahoo |
Here’s what the housing and mortgage industry will look like in 2016 – HousingWire |
Industry Reaction Mixed on Allegations of Wall Street Influencing GSE Reform – DS News |
Up Close with Fannie and Freddie: GSEs to Focus on Unconventional Loans in 2016 – RE Business Online |
Financial Stability and Economy – C-SPAN (Video) |
Statement of Melvin L. Watt Director, Federal Housing Finance Agency Before the U.S. House of Representatives Committee on Financial Services – politico.com |
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Monday December 7th 2015 |
A Revolving Door Helps Big Banks’ Quiet Campaign to Muscle Out Fannie and Freddie – NY Times
A major investigation by Gretchen Morgenson. |
MBA Statement Regarding New York Times Story – mba.org |
Big banks may have Fannie, Freddie in their sights, report says – MarketWatch |
Mortgage Bankers React to Revolving Door Charges – Yahoo |
Big Banks’ Agenda for Housing Exposed in Today’s New York Times – Investors Unite
Same article from Valuewalk. |
Analysis: What the NY Times Got Wrong in its MBA Article – National Mortgage Professional |
Mortgages, Gasoline and Bankruptcy – BloombergView |
Monday Morning Cup of Coffee: Are Fannie and Freddie too-big-to-fail? – HousingWire |
Fannie Mae Takes Bite Out of Private Label CMBS – structuredfinancenews.com |
Hearing entitled “Oversight of the Financial Stability Oversight Council” – financialservices.house.gov
Occurring Tuesday at 10 am with Mel Watt, among others. |
Despite Fannie Mae’s Bulk Sales Of NPLs, Number Of Delinquent Loans Remains High – Valuewalk |
08/27/2013 – Fannie & Freddie vs. Wall Street? That’s Wishful Spin – cato.org |
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Sunday December 6th 2015 |
FHFA OIG – Negligent & Complicit – The Truth About FnF |
Lawmakers Urge FHFA Director Watt to Consider More Risk Sharing Options – DS News |
Fannie Mae (FNMA) Freddie Mac (FMCC) GSE Thread – Reddit
Another reddit thread. This one does not have much discussion. |
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Friday December 4th 2015 |
“Treasury’s Weiss says administration exploring use of a mutual or co-op approach in future housing finance system” from @JonAPrior – Twitter |
Remarks by Counselor Antonio Weiss at The Consumer Federation of America’s Annual Financial Services Conference – treasury.gov |
Freddie Mac Lost $475 Million… Should Investors Be Worried? – Motley Fool |
Route to housing finance reform runs through the FSOC – The Hill |
Nomura: Non-performing loan sales hit post-crisis high, and they’re not going away – HousingWire |
Congress Has Not Acted, So Here’s a Simpler GSE Plan – American Banker |
Capt. Picard Unleashes Harshest Rebuke yet on Biggest Government Fraud since Watergate – Youtube |
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Thursday December 3rd 2015 |
Does Fannie Mae have any chance of fullfilling it’s debt to the US gov’t? – Reddit thread |
This looks promising from @timhoward717 – Twitter |
David Stevens on the GSEs from @BethMillstein – Twitter |
GSE Seller Profile: 3Q15 – Inside Mortgage Finance |
New Bank Capital Rules Could Demolish ABS Trading – Structured Finance News
Registration required. There is a free trial option. |
Freddie Mac’s Mortgage Portfolio Expands for Ninth Straight Month – DS News |
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Wednesday December 2nd 2015 |
The depressing reason Obama and Congress have failed to fix Fannie Mae and Freddie Mac – qz.com
By Bethany McLean |
Sen. Corker’s relationship with real estate industry highlighted in voting record – Yahoo
Also by Bethany McLean |
Obama Makes It Official: Fannie Mae & Freddie Mac CEO Pay Rolled Back To $600,000 – Valuewalk |
Under current regulations, both Fannie Mae and Freddie Mac will cease to exist by December 31, 2017 – Bove – Valuewalk |
Mortgage Bankers Propose Swapping Risk Exposure for Lower Fees – Bloomberg |
Exclusive: Quicken may quit U.S. home-loan program in dispute over bad mortgages – Reuters
Not GSE related. |
Freddie Mac Prices Final STACR Offering of the Year, Releases 2016 STACR Issuance Calendar – CNN Money |
Exclusive: Josh Rosner and Glen Corso on why it’s time for true GSE reform – HousingWire |
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Tuesday December 1st 2015 |
Why Hindes/Jacobs Plaintiffs Will Prevail In The Fannie Mae And Freddie Mac Delaware Litigation – Seeking Alpha |
With Vitter’s Departure, Congress Loses Fannie Mae & Freddie Mac Reform Champion – Valuewalk |
Oppose S. 2038, the “Jumpstart GSE Reform Act” in the Omnibus FY 2016 Bill – civilrights.org |
FHFA Launches New Blog, FHFA Insights – fhfa.gov
FHFA Insights Blog added under the ‘Blog’ section |
@JonAPrior tweets about the GSE g-fees in the Highway Bill – Twitter |
Congress reaches highway deal without controversial use of Fannie, Freddie fees – HousingWire |
MBA Risk Share Letter to FHFA – mba.informz.net |
MBA urges GSE regulator to expand risk sharing with private insurers – Scotsman Guide |
Mortgages, Layoffs and Bribes – BloombergView
A brief GSE mention. |
Fannie Mae’s Mortgage Portfolio Continues Rapid Contraction – DS News |
Freddie Mac’s Leopold says GSE pushing to expand affordable multifamily financing – Scotsman Guide |