In the second quarter, lenders funded $565 billion, an eye-popping sequential gain of 59.2%. It’s anticipated that the fourth quarter will yield the same, if not more.
Shouldn’t the managements of Fannie and Freddie start preparing for the day when they’re “free” from the shackles of regulatory bondage? Shouldn’t CEOs Hugh Frater (Fannie) and David Brickman (Freddie) be holding high level meetings with their lieutenants regarding strategies for the future?
Of course, mortgage historians know that Berkshire took a bite at the GSE apple a few decades back. In 2000, Berkshire was one of the largest shareholders in Freddie...