Some in the industry believe the GSE common shares are essentially worthless with the junior preferred falling into the category of being a speculative bet.
In response to a question about Fannie's capital buffer, Mayopoulos said, “It’s our mission to provide liquidity in all markets at all times and we’re continuing to do that. I am glad to see that policy makers are starting to refocus on housing market reform including the lack of capital at Fannie Mae and Freddie Mac.”
After the end of the first quarter, PennyMac acquired a bulk portfolio of Ginnie Mae mortgage servicing rights with an unpaid principal balance of $4.30 billion.
One fact seems certain: there are more purchasers for non-agency/nonprime loans than a year ago with a handful of foreign and even U.S. banks contemplating acquisitions…
The FHFA was created in part because its predecessor, the Office of Federal Housing Enterprise Oversight, was widely seen as lacking enough independence to adequately oversee the GSEs...