Download or read book Despite FHFA s Recognition of Significant Risks Associated with Fannie Mae s and Freddie Mac s High risk Models Its Examination of Those Models Over a Six Year Period Has Been Neither Rigorous Nor Timely written by United States. Federal Housing Finance Agency. Office of Inspector General and published by . This book was released on 2020 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prudential Management and Operations Standards Us Federal Housing Finance Agency Regulation Fhfa 2018 Edition written by The Law The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-09-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prudential Management and Operations Standards (US Federal Housing Finance Agency Regulation) (FHFA) (2018 Edition) The Law Library presents the complete text of the Prudential Management and Operations Standards (US Federal Housing Finance Agency Regulation) (FHFA) (2018 Edition). Updated as of May 29, 2018 Section 1108 of the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) to require the Federal Housing Finance Agency (FHFA) to establish prudential standards (Standards) relating to the management and operations of the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), and Federal Home Loan Banks (Banks) (collectively, regulated entities). This final rule implements those HERA amendments by providing for the establishment of the Standards in the form of guidelines, which initially are set out in an appendix to the rule. The final rule includes other provisions relating to the possible consequences for a regulated entity that fails to operate in accordance with the Standards. This book contains: - The complete text of the Prudential Management and Operations Standards (US Federal Housing Finance Agency Regulation) (FHFA) (2018 Edition) - A table of contents with the page number of each section
Download or read book Guaranteed to Fail written by Viral V. Acharya and published by Princeton University Press. This book was released on 2011-03-14 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.
Download or read book Fannie Mae Freddie Mac and the Federal Role in the Secondary Mortgage Market written by Deborah Lucas and published by DIANE Publishing. This book was released on 2011-05 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: In September 2008, the fed. gov¿t. assumed control of Fannie Mae and Freddie Mac (FM/FM), two federally chartered institutions that last year guaranteed three-quarters of new residential mortgages originated in the U.S. This study examines various alternatives for the fed. gov¿t¿s. future role in the secondary (resale) market for residential mortgages. Contents: Overview of FM/FM, and the Secondary Mortgage Market; Possible Rationales for a Fed. Role in the Secondary Mortgage Market; Weaknesses of the Pre-crisis Model for FM/FM; Alternative Approaches for the Future of the Secondary Mortgage Market; History of the Secondary Mortgage Market; The Fed. Home Loan Banks. Charts and tables. A print on demand report.
Download or read book The Role of Fannie Mae and Freddie Mac in the Financial Crisis written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2009 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Government s Implied Guarantee of Fannie Mae and Freddie Mac s Obligations written by David J. Reiss and published by . This book was released on 2011 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article provides the most comprehensive statutory analysis to date of the federal government's implied guarantee of Fannie Mae and Freddie Mac's financial obligations. Fannie and Freddie together have $4.45 trillion in mortgage-related obligations. The magnitude of their obligations can only be understood in comparison to the amount of outstanding U.S. government debt - $5.04 trillion. Given the ongoing meltdown of the residential mortgage market, it is important that the implied guarantee be understood for what it is, a contingent liability of the federal government. After explaining the nature of the implied guarantee and the risks that it poses, the article argues that Fannie and Freddie should be privatized and that the implied guarantee be terminated.This article is timely both because of the spreading crisis in the mortgage markets and because Congress is currently considering legislation to increase regulation of Fannie and Freddie. Even if enacted, this legislation does not go nearly far enough to protect the American taxpayer from the consequences of having to bail out these two companies. And if the federal government were to fail to bail them out, the world's financial markets will face a financial crisis that could easily dwarf the 1994 Mexican peso collapse, the 1997 East Asian quot;fluquot; and the 1998 Russian bond default, the last of which triggered the collapse of Long-Term Capital Management.
Download or read book The Federal Home Loan Bank System written by Deborah Cohen and published by . This book was released on 1980 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming America s Housing Finance Market written by Department of Department of the Treasury and published by CreateSpace. This book was released on 2014-05-09 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Administration will work with the Federal Housing Finance Agency ("FHFA") to develop a plan to responsibly reduce the role of the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") in the mortgage market and, ultimately, wind down both institutions. We recommend FHFA employ a number of policy levers - including increased guarantee fee pricing, increased down payment requirements, and other measures - to bring private capital back into the mortgage market and reduce taxpayer risk. As the market improves and Fannie Mae and Freddie Mac are wound down, it should be clear that the government is committed to ensuring that Fannie Mae and Freddie Mac have sufficient capital to perform under any guarantees issued now or in the future and the ability to meet any of their debt obligations. We believe that under our current Preferred Stock Purchase Agreements (PSPAs), there is sufficient funding to ensure the orderly and deliberate wind down of Fannie Mae and Freddie Mac, as described in our plan.
Download or read book Problems at Freddie Mac and Fannie Mae written by Jason Thomas and published by . This book was released on 2008 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation) are Government Sponsored Enterprises (GSEs), whose federal charters confer certain benefits - most notably an implicit guarantee that the Treasury stands behind their securities.The basic problem at Freddie Mac and Fannie Mae - from the taxpayers' perspective - is their aggressive investment strategy that attempts to leverage their implicit guarantee to accumulate vastly increasing amounts of mortgage investments with a huge amount of debt.To insure against the failure of either or both GSE, Congress should: improve disclosure requirements and transparency; increase risk-based regulatory oversight; and begin to consider how to create a greater separation between the taxpayers and the business operations of these firms without causing financial dislocation or upsetting the mortgage markets.
Download or read book Fannie Mae and Freddie Mac Background Reforms and Legislation written by Dominik Wurfel and published by Nova Snova. This book was released on 2020-10-09 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress chartered Fannie Mae and Freddie Mac, also known collectively as the government-sponsored enterprises (GSEs), to promote homeownership for underserved groups and locations by providing liquidity to the secondary mortgage market. National mortgage rates tend to fall as the supply of funds in this market increases, making homeownership more affordable. This book describes Fannie Mae's and Freddie Mac's activities and mission and summarizes the progress made to date on FHFA's initiatives.
Download or read book An Analysis of the Systemic Risks Posed by Fannie Mae and Freddie Mac and an Evaluation of the Policy Options for Reducing Those Risks written by Robert Eisenbeis and published by . This book was released on 2014 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fannie Mae and Freddie Mac are government-sponsored enterprises that are central players in U.S. secondary mortgage markets. Over the past decade, these institutions have amassed enormous mortgage- and non-mortgage-oriented investment portfolios that pose significant interest-rate risks to the companies and a systemic risk to the financial system. This paper describes the nature of these risks and systemic concerns and then evaluates several policy options for reducing the institutions' investment portfolios. We conclude that limits on portfolio size (assets or liabilities) would be the most desirable approach to mitigating the systemic risk posed by Fannie Mae and Freddie Mac.
Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.
Download or read book Fannie Mae and Freddie Mac written by Oonagh McDonald and published by . This book was released on 2012 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to examine the role of Fannie Mae and Freddie Mac in the financial crisis. It examines the role of the other key players in the workings of the American mortgage market from President Clinton's announcement of the 'National Home Ownership Strategy' in 1995 to its collapse in 2008. The aims and consequences of extending mortgage lending through these bodies to people who could not afford home ownership is deftly explained. The extraordinary recklessness and greed with which Fannie Mae and Freddie Mac pursued the interests of various parties is exposed here in full for the first time.
Download or read book Credit Risk Management In and Out of the Financial Crisis written by Anthony Saunders and published by John Wiley & Sons. This book was released on 2010-04-16 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: A classic book on credit risk management is updated to reflect the current economic crisis Credit Risk Management In and Out of the Financial Crisis dissects the 2007-2008 credit crisis and provides solutions for professionals looking to better manage risk through modeling and new technology. This book is a complete update to Credit Risk Measurement: New Approaches to Value at Risk and Other Paradigms, reflecting events stemming from the recent credit crisis. Authors Anthony Saunders and Linda Allen address everything from the implications of new regulations to how the new rules will change everyday activity in the finance industry. They also provide techniques for modeling-credit scoring, structural, and reduced form models-while offering sound advice for stress testing credit risk models and when to accept or reject loans. Breaks down the latest credit risk measurement and modeling techniques and simplifies many of the technical and analytical details surrounding them Concentrates on the underlying economics to objectively evaluate new models Includes new chapters on how to prevent another crisis from occurring Understanding credit risk measurement is now more important than ever. Credit Risk Management In and Out of the Financial Crisis will solidify your knowledge of this dynamic discipline.
Download or read book Fannie Mae s and Freddie Mac s Financial Problems written by and published by . This book was released on 2008 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent turmoil in the housing and financial markets have caused concern over the future of Fannie Mae and Freddie Mac, which are chartered by Congress as government-sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Treasury Secretary Henry M. Paulsen, Jr., has proposed legislation to increase the two GSEs' line of credit with Treasury from its current $2.25 billion each to an unspecified higher amount to allow Treasury to purchase stock from Fannie and Freddie. The Federal Reserve has taken actions to allow Fannie and Freddie to borrow directly from the Fed. The Office of Federal Housing Enterprise Oversight (OFHEO) -- the GSEs safety and soundness regulator -- has repeated assurances that Fannie and Freddie have adequate capital, but as highly leveraged financial intermediaries Fannie Mae and Freddie Mac have limited resources against losses.
Download or read book FHFA Did Not Complete All Planned Supervisory Activities Related to Cybersecurity Risks at Freddie Mac for the 2016 Examination Cycle written by United States. Federal Housing Finance Agency. Office of Inspector General and published by . This book was released on 2017 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inspector General Reform Act of 2008 written by United States and published by . This book was released on 2008 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
