The REIT was vague when describing what the cash will be used for, sticking to the standard line about using the proceeds for “general corporate purposes.”
Tian Liu, chief economist at Genworth Mortgage Insurance, said homebuilders are starting to increase the supply of homes at somewhat lower price points, which could help increase purchases by first-time buyers.
Sen. Bob Corker, R-TN, said passing legislation this year “evidently is not going to happen” and his sense is that Fannie Mae and Freddie Mac will stay in conservatorship “for some time.”