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Inside The GSEs

March 9, 2011

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Securitization Rules Will Challenge GSEs

A number of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and other pending regulations could harm Fannie Mae and Freddie Mac on multiple levels, making it harder for the companies to pull themselves out a sea of red ink. The Dodd-Frank Act, signed into law July 21, 2010, significantly changed... Read More

FHLBanks Could Issue Covered Bonds

Federal Home Loan Banks, some of which have long been wary of covered bonds as a threat to their advance business, could actually get in on issuing the instruments themselves – if their regulator gives a thumbs-up, under the latest covered bonds bill introduced this week by Rep. Scott Garrett, R-NJ. There are... Read More

GSE Dividends to Treasury Leap, Drawdowns Plunge

Fannie Mae and Freddie Mac continue to inch toward profitability in a market that remains dicey, tentative and uneven – all while navigating between escalating dividend payouts to the Treasury Department and a steep drop in their need for additional capital infusions. Over the last 12 months, the two GSEs have seen...[Includes one data chart] Read More

Lockhart Prefers an ‘Old Co/New Co’ GSE Solution

The former chief regulator for Fannie Mae and Freddie Mac thinks the best way to resolve the fate of the companies is to segregate out their old business and let that proceed in run-off, while another new structure moves forward with new business, perhaps with catastrophic insurance from Uncle Sam as a backstop. “I’ve always talked... Read More

HUD’s Stevens Might be Next FHFA Nominee

Department of Housing and Urban Development Assistant Secretary David Stevens – once a senior executive at Freddie Mac – is said to be under consideration for the top position at the Federal Housing Finance Agency, Inside The GSEs has learned. Apparently, the Obama administration thinks... Read More

GSE Risk Management Challenges Continue to Grow

The longer it takes for policymakers to get a resolution plan in place for Fannie Mae and Freddie Mac, the more severe the risk management challenges are going to be for the companies, according to the GSEs’ regulator. “Time is not on our side. While a lengthy transition is... Read More

FHLBanks to Bolster Capital Post-REFCORP

The 12 Federal Home Loan Banks may have gotten the jump on Congress, making a pre-emptive strike to collectively hold onto more of their earnings to bolster their capital once their thrift industry bailout obligation ends later this year, perhaps discouraging Congress from eyeing that revenue stream as a target for additional taxation. Last week, each of the Banks entered... Read More

News in Brief

Freddie Delinquencies Best Fannie Fannie Mae and Freddie Mac continued to outperform the rest of the mortgage industry when it came to serious delinquency rates in the fourth quarter of 2010, and Freddie kept outperforming its bigger, older sibling, with overall delinquencies drifting... Read More

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