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Volume 2010 - Number 9

March 5, 2010

Rising Non-Agency OTTI, Credit Expenses Help Put Another Hole in the Hull of the USS Fannie Mae

Fannie Mae reported a leap in other-than-temporary impairment charges for its non-agency MBS holdings during the fourth quarter as the government-sponsored enterprise lost $15.2 billion during the period, its 10th consecutive losing quarter, on the way to losing $72.0 billion for the entire year. Net OTTI was $2.5 billion in the fourth quarter, compared with $939 million in the third...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

The Consumer Financial Protection Bureau is completing its first six months of operation. Based on the agency’s regulatory pronouncements and announcements to date, how do you think the agency is doing?

It’s doing a good job of balancing consumer protections with regulating the mortgage industry.
It’s too early to tell what kind of job the CFPB is doing.
It’s not needed and should be closed down.

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Housing Pulse

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