Volume 9 - Number 5
March 3, 2010
Fannie, Freddie Get Tagged Big for MBS Buyouts
The more successful that GSE loan modification efforts are, the bigger the resulting fair value net charges offs for Fannie Mae and Freddie Mac become – particularly for Fannie, which reported a huge leap in such costs during 2009. “The pace of our loan workouts increased in the fourth quarter, particularly modifications. In most cases, we must purchase a loan from our MBS trusts to modify it, at...
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