Posts with tag mortgage backed securities

While everyone discusses the likelihood that Fannie and Freddie were duped into buying subprime mortgages that didn't meet their investing criteria, we may finally get a definitive answer when banks answer the 64 subpoenas issued this week by the Federal Housing Finance Agency. The agency didn't release the names of the... Continue Reading »

Tomorrow is the big day – the day the Federal Reserve pulls the plug on its purchases of mortgage-backed securities. Since December 2008, the Fed has kept the mortgage-backed securities market going by buying $1.25 trillion in securities issued by Fannie Mae, Freddie Mac and Ginnie Mae that no one else wanted. The... Continue Reading »

The epic drama of Wall Street bailouts and Main Street foreclosures riveted the nation in 2009. Meanwhile, financial industry groups and Washington policy advocates have been prepping for the big story of 2010: The fight over the future of Fannie Mae and Freddie Mac -- and with them, the fate of the 30-year, fixed rate... Continue Reading »