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Inside The GSEs

November 10, 2010

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Onus Now on GOP to Advance GSE Legislation

For the better part of the last two years, Republicans in the House of Representatives have directed a lot of smack talk in the direction of the Democrats for not dealing with the future of Fannie Mae and Freddie Mac when they pushed their financial reform legislation through Congress. “A major building block toward... Read More

All FHLBs Back in the Black in Third Quarter

The Federal Home Loan Banks continued to see their advance business slip, but that didn’t pull any of the 12 Banks into the red during the third quarter. Each of the FHLBanks has reported positive net income for the period, some more than in the second quarter and some less, but all on the positive side of the ledger. Combined net income... Read More

Treasury Starts to Turn a Profit on Aid to FNM, FRE

It still seems nearly impossible for the federal government to recoup the massive investment it has made in Fannie Mae and Freddie Mac over the last two years, but the third quarter of 2010 marked the first time the GSEs paid more back in dividends to Treasury than...[Includes one data chart] Read More

Fannie, Freddie Putbacks Leap to $13.3 Billion

Fannie Mae and Freddie Mac had a combined $13.3 billion in lender repurchase requests outstanding as of Sept. 30, 2010, as nonperforming mortgages continue to grow as a problem for GSE and seller alike. The problem was worse at Fannie, which reported it had... Read More

A GSE Reboot Could Cost $700 Billion or More

The total cost to the federal government and the U.S. taxpayer to wash away all the red ink generated by Fannie Mae and Freddie Mac over the last two years and set up replacement entities could approach $700 billion, according to credit analysts at Standard & Poor’s rating service. “Standard & Poor’s estimates... Read More

Fannie Outperformed Freddie on Housing Goals

Fannie Mae generally bested Freddie Mac when it came to their 2009 housing goals, although both GSEs were uneven in their overall performance, the Federal Housing Finance Agency’s 2010 annual housing report to Congress indicates. “Fannie Mae’s performance exceeded...[Includes one data chart] Read More

Issa Plans to Push Probe of Countrywide and GSEs

Rep. Darrell Issa, R-CA, the expected new chairman of the House Oversight and Government Reform Committee come January, will move forward with his probe of the relationship between the now-defunct Countrywide Financial and its chairman, Angelo Mozilo, and Fannie Mae and Freddie Mac, the Congressman confirmed this week. “I think finishing off... Read More

FHLBs Lose an Ally as Kanjorski Goes Down in Defeat

The Federal Home Loan Banks are losing a strong supporter on Capitol Hill with the electoral defeat of Rep. Paul Kanjorski, D-PA, the chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises. Kanjorski was defeated... Read More

News In Brief

The Mortgage Partnership Finance Program is telling participating servicers to ensure their default, foreclosure and bankruptcy processes and procedures are fully compliant, and if not, to quickly remediate any deficiencies. “Issues have recently arisen... Read More

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