During his long career in mortgage finance, Marzol held senior posts at Fannie Mae where he served as executive vice president and chief credit officer...
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.”
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…