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Inside The GSEs

October 18, 2006

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OFHEO Poised to Hammer Fannie Mgmt

Fannie Mae’s Board of Directors this week will deliver preliminary findings to the Office of Federal Housing Enterprise Oversight from its review of possible misconduct by former and current employees in the GSE’s $10.6 billion accounting scandal. The board will also... Read More

FHLBanks’ Net Jumps 136 Percent in 2Q06

Higher interest rates and some favorable accounting fueled a 136 percent spike in combined net income for the 12 Federal Home Loan Banks, up to $648 million in the second quarter, compared with $274 million for the same period a year ago, according to figures recently... Read More

Wall Street Expects November to Help Fannie, Freddie

As the prospects for GSE reform have faded on Capitol Hill and Fannie Mae and Freddie Mac continue to progress towards timely financial reporting, the stock analysts on Wall Street expect the November elections to benefit the mortgage finance giants... Read More

Fannie, Freddie Hard-Pressed to Regain Market Share

The GSE share of mortgage debt outstanding continued to decline through the second quarter of the year, as Fannie Mae and Freddie Mac have seen their role in the market erode steadily since peaking in 2003. Fannie’s and Freddie’s share of residential mortgage... Read More

Home Purchase Subgoals Stretch Fannie, Freddie

It’s increasingly difficult for Fannie Mae and Freddie Mac to meet the targeted home purchase subgoals set by the Department of Housing and Urban Development as a part of their larger affordable housing goals. The three home purchase subgoals were added in 2004, “to encourage... Read More

DeMarco Joins Lockhart at OFHEO

Edward DeMarco, assistant deputy commissioner for policy at the Social Security Administration, will join his old superior James Lockhart, the director of the Office of Federal Housing Enterprise Oversight, at the GSE regulator Oct. 30. DeMarco, at one time considered... Read More

Robert Steel Replaces Randal Quarles at Treasury

The Goldman Sachs makeover of the Treasury Department continues, as Robert Steel, recently retired after nearly 30 years at Goldman Sachs, was sworn in last week as Treasury undersecretary for domestic finance, replacing Randal Quarles, who left the agency Oct. 6 after... Read More

Finance Board OKs Seattle FHLBank Stock Plan

The Federal Housing Finance Board has unanimously allowed the Seattle FHLBank to amend its capital structure plan, authorizing the establishment of an interim excess stock pool and the issuance of Class A stock. The excess stock pool is a transitional measure designed... Read More

News In Brief

Reg Relief Bill Signed Absent FHLB Provision; WaMu Covered Bond Program May Hurt Affordable Housing; Freddie Adds Anthony Piszel As Chief Financial Officer; FHLB Atlanta Lobbying Director Joins ACB in DC Read More

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