Track listing1.Polar AC2.People Make The World Go Round3.Betcha By Golly Wow4.Naturally5.Son Of Sky DiverWarm and wonderful work from Freddie Hubbard, a killer of a record recorded for CTI, and one of his most soulful efforts for the label! The album's got a bit more of a human heart than some of the more cosmic sessions Freddie cut at the time , a bit more contemplative and introspective, but no
Just recently, we witnessed one of the greatest all-time fighters being taught a lesson by a new pound for pound king. Oscar was mercifully beaten by Manny and had nothing to offer in return in the ring.Nobody thought that this was the way the fight would go. Sure, there were people who believed that Pacman would win this fight, but I don’t believe that people could have predicted what went down
Just recently, we witnessed one of the greatest all-time fighters being taught a lesson by a new pound for pound king. Oscar was mercifully beaten by Manny and had nothing to offer in return in the ring.Nobody thought that this was the way the fight would go. Sure, there were people who believed that Pacman would win this fight, but I don’t believe that people could have predicted what went down
O Federal Reserve (FED, o banco central americano) anunciou nesta terça feira que começará em breve a adquirir ativos dos organismos de refinanciamento hipotecário Fannie Mae e Freddie Mac, em uma medida destinada a ajudar o mercado imobiliário do país, afundado em grave crise. O FED “deve começar suas operações no início de janeiro” e [...]
Effects on the subprime mortgage crisisThe effects on the subprime mortgage crisis have led the government to support the soundness of the obligations and guarantees on securities issued by Fannie and Freddie to obtain funds. Those funds are in turn used to purchase mortgages from originating subprime mortgage lenders. The continuing soundness of GSE obligations enhances market liquidity (loanable
Market consequencesSubprime mortgage lenders reservesMany commercial subprime mortgage lenders in the United States own Freddie and Fannie preferred shares. Those shares have had their dividends suspended, and are junior to the senior preferred stock issued to the Treasury in the restructuring of the two companies. The market value of the preferred shares plunged after the restructuring announceme
Treasury support programs and credit facilitiesTreasury Secretary Paulson on September 7, 2008 described four aspects of the U.S Treasury's support of the two government sponsored enterprises (GSEs) while under conservatorship of the FHFA: "To promote stability in the secondary mortgage market and lower the cost of funding, the GSEs will modestly increase their MBS portfolios through the end of 2
FHFA initial actions as conservatorIn the September 7, 2008 conservatorship announcement, Lockhart indicated the following items in the plan of action for the Federal Housing Finance Agency conservatorship: On September 8, 2008, the first business day of the conservatorship, business will be transacted normally, with stronger backing for the holders of Mortgage Backed Securities (MBS), senior debt
Capital infusion by the TreasuryThe agreement the Treasury made with both GSEs specifies that in exchange for future support and capital investments of up to US$ 100 billion in each GSE, at the inception of the conservatorship, each GSE shall issue to the Treasury US$ 1 billion of senior preferred stock, with a 10% coupon, without cost to the Treasury. Also each GSE contracted to issue common stoc
The federal takeover of Fannie Mae and Freddie Mac refers to the placing into conservatorship of government sponsored enterprises Fannie Mae and Freddie Mac by the US Treasury in September 2008. It was one financial event among many in the ongoing Subprime mortgage crisis.The director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III. on September 7, 2008 announced his decision
Previous Attempts for GSE ReformIn 2003, the Bush Administration sought to create an agency to oversee Fannie Mae and Freddie Mac. While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of committee. At the time members of congress expressed
From REALTYTIMES.com - "Investor Report: Rethinking Controversial Limits":Here's some potentially good news for investors from the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac.James Lockhart, who runs the agency, says there's been some "re-thinking" underway on the controversial limits on the numbers of rental properties investors can own if they're seeking new financi
Some investors are still clinging to the hope that the share prices of Fannie Mae (FNM) and Freddie Mac (FRE) will recover with financial help from the federal...
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The Washington Post once again did what it does so well. It uncovered some nasty documents, in this case about Fannie Mae (FNM) and Freddie Mac (FRE)....
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San Diego Real Estate Blog
On November 20th, 2008 Fannie Mae and Freddie Mac announced that they would be stopping foreclosures and putting them on hold “Until the streamlined modification program is fully implemented” as stated by Fannie Mae President and CEO Herb Allison. Not only has the two mortgage giants stepped up to embrace the [...]
Talk about a holiday gift! I sure hope this isn't going to encourage homeowners from thinking they should stop payments.
Perhaps that would be a bigger economic impact - The Federal Government will pay your mortgage for the next 2 months!
Complete article here -
You can also get it straight from Fannie's webpage at ;jsessionid=25IRH1QCR5ZJDJ2FECISFGQ?p=Media&s=News+Releases
Looks
"Fannie, Freddie Halt Foreclosures for Holidays"
Fannie Mae and Freddie Mac announced yesterday that they are temporarily suspending foreclosures and evictions during the holiday season in an effort to keep people from losing their homes.
The companies said they are taking the step so they can include more people in a newly announced program to change the terms of troubled mortgages to make
"Freddie Mac: 30-year fixed rate mortgage average falls"
Freddie Mac said Thursday that the 30-year fixed-rate mortgage average fell from a week ago on signs of a weak economy. The average was 6.14% with an average 0.7 point for the week ending Nov. 13, down from 6.2% last week. A year ago, the average was 6.24%. "Long-term mortgage rates fell slightly this week as signs the overall economy is
Freddie Mac says it is worth less than zero by UK Times Online - snip:Freddie Mac, the US mortgage giant, yesterday admitted that it is so overwhelmed by its liabilities that without government backing, it would no longer be a viable business. The company said that it had lost $13.7 billion (£9.2 billion) in the third quarter of the year and begged for $13.8 billion from the US Treasury in rescue
Freddie Mac, which was recently seized by the federal government, is now asking the Treasury for $13.8 billion. The company reported a record quarter loss, which caused its net worth to drop below zero. Freddie reported in a statement Friday, that its net loss for the quarter increased to $25.3 billion after the company wrote down bad mortgages and troubled securities.
"Who benefits from the new Fannie-Freddie plan"
A new housing rescue plan from the administration targets some of the most troubled homeowners.
Mortgage giants Fannie Mae or Freddie Mac may back 30 million mortgages. But that doesn't mean that the new foreclosure prevention program announced this week by the Bush administration will rescue every troubled borrower on their books.
The Federal
Freddie Mac (FRE) reported a net loss of $25.3 billion, or $19.44 per share, for the quarter ended September 30, 2008, compared with a net loss of $1.2...
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Mortgage giants Fannie Mae or Freddie Mac may back 30 million mortgages. But that doesn't mean that the new foreclosure prevention program announced this week by the Bush administration will rescue every troubled borrower on their books. The Federal Housing Finance Agency (FHFA), which took control of Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) in September, together with Hope Now, th
So I heard on the news (and read on the Seattle PI) this morning that Federal officials announced a plan last Friday to rework threatened home loans owned or guaranteed by mortgage giants Fannie Mae and Freddie Mac. Sounds like a viable plan. Why not? Well, I’m in favor of helping out, [...]
In a move to further help out struggling homeowners, Fannie Mae and Freddie Mac unveiled a plan to cut payments for hundreds of thousands of struggling homeowners. Under the plan, homeowners who are spending more then 38 percent of their income on monthly payments could have their monthly payments reduced. Currently, Fannie Mae and Freddie Mac insure nearly 31 million mortgages, nearly 58 percen
As reported by Bloomberg - "Fannie, Freddie Boost Effort to Minimize Foreclosures":Fannie Mae and Freddie Mac, the largest U.S. mortgage-finance companies, will accelerate anti- foreclosure efforts with a new loan modification program designed to cut monthly payments for struggling homeowners.Fannie and Freddie, operating under a government conservatorship, will target loans in which borrowers are
Talk about good judgement. Wow Obama you sure can pick your
friends.
President-elect Barack Obama's newly appointed chief of
staff, Rahm Emanuel, served on the board of directors of the
federal mortgage firm Freddie Mac at a time when scandal was
brewing at the troubled agency and the board failed to spot "red
flags," according to government reports reviewed by ABCNews.com.
According to a compl
Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.
At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.
Stop the truck Sally!
This BREAKING NEWS report just came in from Mortgage News Daily. I’m really curious on how some of you think this is going to affect your short sale investing. All you 21-Day foreclosure states just got a hand up to 300 DAYS! How’s that for assistance? Also… read the part about how they are DOUBLING the pay for short sales to the services that complete them. HMMMMMm
US Government takes over mortgage giants Fannie Mae and Freddie Mac
Resource: News: Yahoo.com
Treasury Secretary Henry Paulson, Jr. speaks during a news conference in AP – Treasury Secretary Henry Paulson, Jr. speaks during a news conference in Washington, Sunday, Sept. 7, …
WASHINGTON – The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac ,
This story has more legs that I can count.Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a
Human Events Online has a picture scan of a letter that was signed by 20 Republican senators, John McCain included, that demanded regulatory action be taken to deal with the problem of Freddie Mac and Fannie Mae. Neither Barack Obama nor any other Democrats signed on to the letter.
This is actually breaking news that has the potential to really destroy the U.S. taxpayer. There is a report out by Bloomberg and now being reported by CBS MarkeWatch that Federal regulators are going to order Fannie Mae and Freddie Mac to start buying $40 billion a month in troubled mortgages each month. Keep in [...]
On October 4, the Associated Press Reported that John Kerry (D-MA) had agreed to two debates with Republican Challenger Jeff Beatty. (Boston Globe) At the time, Kerry’s Campaign Manager said: “Kerry is "looking forward to a dialogue on the issues that matter to all Massachusetts residents."Just two weeks later, the man who coined the phrase “flip-flop”, appears to be waffling; In an art
I'm glad that McCain has listened to what supporters requested, and has now taken off the gloves and attacked Obama and the Democrats for their role in the crisis involving Fannie Mae and Freddie Mac. Here's an excerpt of the transcript from Hot Air:
Our current economic crisis is a good case in point. What was his actual record in the years before the great economic crisis of our lifetimes?
Courtesy of Breitbart.tv"Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of four people going thru dumpsters in Alaska and four in Arizona. Not a single one looking into ACORN, Ayers or Freddie Mac."
Just in case you haven't paid enough attention on the Government takeover of Fannie Mae and Freddie Mac, here's a brief video clip of James Lockhart, Director of Federal Housing Agency (FHA) on how the takeover will help "stabilize" mortgage markets
For those of you who aren't sure of what's going on with all this, Fannie Mae and Freddie Mac were set up by the government (GSEs or "Government-Sponsored Enterprises") to make loans to people who typically can't afford it (called non-conforming loans). Fannie Mae and Freddie Mac are able to make these loans because they have a line of credit with the Treasurely Department and because the governme
That bloody Freddie Eastwood spoiled the day on Saturday after a great opener from big Ben the Romany forward scored a equaliser to share the points. He’s now scored against us for three different clubs. From my angle there was a big deflection from Rob Edwards to knock the ball in at the near post, so [...]
Why the sudden rush to investigate to investigate two lending institutions that were, for all intents and purposes, government run institutions? An AP news release noted that the focus will be on the individuals who were in charge – would that include James Johnson? Johnson, a major Democrat Party player, has been scrutinized over deals made with Country Wide, and was tapped in May of this yea
The New York Times and Newsweek broke a story late Tuesday evening that John McCain's campaign manager, Rick Davis, received $15,000 a month from troubled financial giant Freddie Mac for his company's lobbying work beginning in 2005 and lasting through last month.Davis had been receiving $30,000 or more per month from Freddie Mac before that. McCain had claimed for days that Davis had no ties to F
As we just mentioned, Sen. Collins either no idea what she's talking about or she's so eager to avoid a discussion of the financial crisis that she's content leaving that impression.But there's another wrinkle to her decision to look back at the Freddie Mac and Fannie Mae bailouts instead of discussing the current crisis: Before they were absorbed by the feds, Freddie and Fannie were government sp
Fannie, Freddie to buy mortgage-backed securities
The regulator of mortgage finance firms Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) said on Friday that it had directed the companies to buy mortgage-backed securities immediately.
James Lockhart, director of the Federal Housing Finance Agency, said as part of a federal
Barney Frank (D-Mass): "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
With Fannie Mae and Freddie Mac now firmly under federal control, what might the future look hold for the mortgage giants? Barron's has an idea (hat tip: Brian McDonald): FANNIE MAE AND FREDDIE MAC , THOSE two wild and crazy kids who partied on Uncle Sam's dime, finally have been sent to the "time out" corner. In the near term, the federal bailout of the heretofore quasi-governmental mortgage g
I’ve rewritten this post 4 times and started writing it the day Freddie and Fannie got bailed out by Uncle Sam and since then the financial world has been unraveling.
If you haven’t noticed, typically what you won’t find here at my blog is what everyone else is talking about that day. If there’s a story going ’round, [...]
I read perhaps 1,000 articles a day, sure I scan them quickly and sometimes don't get past the headline, but this article is good enough to read and re-read a couple times:Washington Post Blames Private Sector for Government Failures"But the failure of Fannie Mae and Freddie Mac is hardly an indictment of the free market: Fannie and Freddie are “Government-Sponsored Enterprises,” not products
Last week, RealtyStore brought you the news that Fannie Mae and Freddie Mac CEO’s were being removed from their posts by the U.S. Government. To the disgust of many, both Daniel Mudd (former CEO) and Richard Syron had expected to receive multimillion dollar severance packages. The FHFA, assigned to handle the removal process, recently announced [...]
Opinions aplenty on the government takeoverUntil this week I bet you didn’t think much about Freddie Mac and Fannie Mae. With the news last week of the government takeover of these giants in the lending industry, the media is chock full of opinions about what it all means. Bloggers always looking for a story are filling the internet with words on the topic. Rather than add
Mortgage Interest Rates Plummet after Fannie Mae/Freddie Mac Takeover
I have been tracking mortgage interest rates for the last few months. Its always more interesting when there are drastic changes. This week we saw some of the largest changes we have seen this year. This is of course in response to the Fannie Mae and Freddie Mac takeover.
The 30 year mortgage rate dropped from 6.35 to 5.93
Fannie Mae and Freddie Mac were taken over by the US government on September 7th, 2008. This is result of the unprecedented changes that are occurring in the US financial and real estate markets. And there is no doubt at this point that the effects of our liquidity crisis will be felt worldwide. Yet, what [...]
When the federal government took over Fannie Mae and Freddie Mac, one of the reasons was to take pressure off rising mortgage rates. Rate cuts from the Federal Reserve for short-term funds were no longer having the desired affect.
Charlie Rose has a discussion about the U.S. government’s takeover of mortgage giants Fannie Mae and Freddie Mac with Mohamed El-Erian, co-CEO co-CIO for PIMCO, Gretchen Morgenson, Floyd Norris both of The New York Times and Nouriel Roubini of New York University.
I’m sure you’ve heard that the government is taking over Fannie Mae and Freddie Mac. We all learned during the Great Depression of how much the stability of financial markets affects us all, so I can see why they decided to step in. I just can’t help but be a little ticked off that we’re [...]
Il Ministro del Tesoro Americano, Henry Paulson, ha annunciato il commissariamento dei due colossi del credito ipotecario Fannie Mae e Freddie Mac. I due istituti, in crisi di liquidità ormai da parecchi mesi, detengono da soli quasi la metà dei mutui ipotecari in circolazione negli Stati Uniti...Categoria: Finanza e Mercati
``We find it way out of line that these two executives will be rewarded with millions of dollars in bonus compensation at a time when taxpayer dollars may have to be deployed to cover any financial losses caused by errors in management,'' Democrats Charles Schumer of New York and Jack Reed of Rhode Island wrote today to James Lockhart, director of the Federal Housing Finance Agency.
Mudd and Syr
On Sunday, September 7, 2008, the U.S. Government put loan giants Freddie Mac and Fannie Mae under its conservatorship. This event has been met with strong optimism and pessimism from all sides, and it is still unclear exactly what will happen because of this change. However, one point that seemingly all sides agree on is that foreclosure rates are on the rise. Even if the Federal takeover does im
* Treasury securities outstanding as of March 31, according to the Fed’s Flow of Funds (report page 87, pdf page 95): Also $5.3 trillion.
If Fannie’s and Freddie’s obligations were equivalent to 10% or even 20% of the U.S. Treasury debts, the idea that they could fit under the Treasury’s “full faith and credit” umbrella might [...]
The federal government has stepped in and bailed out mortgage giants Freddie Mac and Fannie Mae; a move that can help bolster the U.S. housing market.
As Realtors, that's the best news we've had in a long time as we struggle through this market downslide.
As taxpayers, that's another story. But given the alternative of letting Freddie and Fannie continue to struggle AND the housing market along w
Investigations into Fannie Mae and Freddie Mac reveal details of a corrupted past involving overstated earnings that went straight into the pockets of CEOs.Social Bookmarking Add to OnlywireAdd to: | Technorati | Digg | del.icio.us | Yahoo | BlinkList | Spurl | reddit | Furl |
Readers Question: Interesting article (Nationalisation of Freddie Mac and Fannie Mae). But could you explain what do you mean by "The banks need to be nationalised because of an unprecedented rise in mortgage delinquencies (an American term for mortgage defaults) leaving investors nervous about whether they could survive." Who could survive? The investors, or the banks. - William WallaceThe market
When comparing two investments with equal risk, a rational person will choose the investment with a higher rate of return.
This behavior is called Risk Aversion and is a basic tenet of personal investing.
An off-shoot of Risk Aversion is that a rational person will only invest in an instrument of greater risk if the returns are greater, too.
The chart at right illustrates this concept, comparing
When comparing two investments with equal risk, a rational person will choose the investment with a higher rate of return.
This behavior is called Risk Aversion and is a basic tenet of personal investing.
An off-shoot of Risk Aversion is that a rational person will only invest in an instrument of greater risk if the returns are greater, too.
The chart at right illustrates this concept, comparing
The federal takeover of the Fannie Mae and Freddie Mac - some call it the “nationalization” of the mortgage industry - is finally happening. Congrats to you, John and Suzy Taxpayer! You did it!
Oh yeah, it couldn’t have happened without your tax dollars. The takeover comes at a cost of $200 billion [...]
Kansas City Real Estate Thoughts ... The United States Treasury's seizure of Fannie Mae and Freddie Mac led to a swift drop in Kansas City mortgage interest rates today. Before speaking with a local mortgage lender, I read where a mortgage broker...(read more)
There was a rally this past Monday after the Federal Government took over Fannie Mae and Freddie Mac. The Dow opened up more than 300 points. Great. Good Stuff. Heady moments. But hardly the end of the bear market.
Secretary Paulson and the Treasury Department probably have done something that became necessary due to the poor [...]
So by now, I know you’ve heard all about the fact that Fannie Mae and Freddie Mac have been rescued by the federal government.
What you may not realize is the impact that it’ll have on the San Francisco real estate market.
We (as in SF real estate agents) got the word that interest rates [...]
US treasury secretary Henry Paulson was honest enough when he admitted that the true cost of the nationalization of the US mortgage agencies Freddie Mac and Fannie Mae is impossible to assess. These agencies guarantee more than $5,000bn in US home loans, and this is a considerable addition to the national debt, however you choose [...]
Jim Rogers is easily the most truthful and least scripted person on financial media today. Here're his opinions of the Fannie & Freddie rescue package.
Rough summary- Not Good.
If you've been anywhere near a news outlet since sunday, you are probably well aware of the government seizure/take-over/bailout of Fannie Mae and Freddie Mac. Well, we pretty much knew it was coming.
And, as much as I want to write a concise post that sums everything up with a nice neat opinion, I'm afraid that [...]
Under the takeover, the government replaced the companies' chief executives and shifted management control to their regulator, the Federal Housing Finance Agency, or FHFA. The government pledged to provide as much as $200 billion to help both firms ride through their expected mortgage-related losses. Mr. Paulson outlined his desire to see both companies begin to reduce the size of their mortgage
What does the news about the Federal Government takeover of Fannie Mae and Freddie Mac mean to Rochester area home buyers and sellers? The biggest immediate news is a significant drop in mortgage rates.
Home buyers Kerry Ryan and Joel Jensen have an accepted purchase offer on a property with a scheduled closing of October 15. Their inspections are done and mortgage commitment received two weeks
So Uncle Sam just ate cousins Fannie and Freddie.
With that, the we enter a new and uncharted phase of the mortgage crisis, potentially saddling American taxpayers with billions of dollars in losses from home loans made by the private sector.
Bush and the gang argue that the cost of doing nothing would be far greater because [...]
On 7 Sept 2008, the US Federal Government announced its takeover of collapsing mortgage firms Fannie Mae and Freddie Mac, the two largest US home-loan lenders. The stock markets all over the world rallied on 8 Sept 2008, interpreting the "takeover" as an indication that the United States government will do whatever it takes to prevent the global credit crisis from deepening. While stock indices ju
Can you tell it’s an election year? Gas prices are coming down finally and the credit crisis is being shaken up big time! My mom always said, “sometimes it takes a crisis to solve a crisis”, and that most people need to be hit in the head with a 2 x 4 to get their
The U.S. government’s seizure of Fannie Mae and Freddie Mac has triggered more than $1 trillion of credit default swaps tied to the mortgage giants.”
That trigger fired the starting gun for a stampede to dump as much toxic paper as possible into the lap of the US Government. Just what bankers and money managers [...]
Interest rates took a SIGNIFIGANT drop today on the heels of the Fannie Freddie takeover announced by the Government over the weekend. This is a great opportunity to call past clients and connect with them, anytime you bring a higher level of service by saving your clients money, a client will remember you for years [...]
Interest rates took a SIGNIFIGANT drop today on the heels of the Fannie Freddie takeover announced by the Government over the weekend. This is a great opportunity to call past clients and connect with them, anytime you bring a higher level of service by saving your clients money, a client will remember you for years to come and reward you with referrals.
Sarah Palin is not ready to be the Vice President of the United State:Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer
09/08/2008
The Federal U.S. Government is taking over Fannie Mae and Freddie Mac, two companies identified as having played large roles in exacerbating the current real estate market slump.CNN has the story:
“(CBS/AP) The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as Sunday, moved to the forefront of the presidential campaign [...]
The federal bailout of Fannie Mae and Freddie Mac involves putting the companies under conservatorship and placing the Federal Housing Finance Agency in charge of their operations and appointment of senior managers. The government has dismissed Fannie Mae and Freddie Mac’s CEOs — who will, however, assist in the transition — and will provide capital, if necessary.The plan also calls for a cu
In a move that symbolizes the complete collapse of American economic sanity, moral posture, common sense, decency and justice, this past weekend, federal regulators informed management at government created mortgage behemoths that they would now be controlled by the U.S. federal government.
This article highlights the “why” portion of the move offered by regulators.
It has been [...]
After five years of corporate scandals, from Enron to Tyco, then the foolish Sarbanes Oxley law that increased the cost of doing business and accomplished nothing ... we finally get to an important step in the housing recovery.Fannie Mae and Freddie Mac didn't cause the housing bubble, if there was one, or the related over-reaction of the banks and credit markets to value problems. They exist to
Real Trends just sent a great email explaining the current situation with Freddie Mac and Freddie Mae. No use reinventing the wheel to explain what is going on…..
Thanks to Real Estate Trends:
Dear Reader,
U.S. Treasury Department Announces Takeover of Fannie Mae; Freddie Mac
It’s been the talk of Wall Street for months, but it’s now official. [...]
The government stepped in and took over Fannie Mae and Freddie Mac in order to prevent their failure. This has eliminated one huge uncertainty from the interest rate markets (and a lot of other markets) and subsequently we are seeing...
