The Seventh Circuit Court shot down the chances of Fannie Mae and Freddie Mac shareholders reviving their Treasury sweep claims last week. Investors Christopher Roberts and Thomas Fischer argued that the preferred stock purchase agreement was illegal and robbed shareholders of their profits.
A proposed merger between telecommunication giants T-Mobile US and Sprint Corp. would provide a credit boost for Sprint’s spectrum ABS but not for the wireless tower ABS sector, according to a report from Moody’s Investors service.
Fannie Mae and Freddie Mac continued to whittle away at their retained mortgage portfolios during the first quarter, though the pair still had $469.3 billion of MBS and whole loans on their books at the end of March. [Includes one data chart.]
A former Fannie executive (pre-federal takeover) said that when he worked at the GSE, “We looked at doing this, but were told it wasn’t in the charter and so we didn’t proceed.”
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