Download or read book The Present Condition and Future Status of Fannie Mae and Freddie Mac written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2009 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Present Condition and Future Status of Fannie Mae and Freddie Mac written by Professor United States Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-11 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present condition and future status of Fannie Mae and Freddie Mac: hearing before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, first session, June 3, 2009.
Download or read book The Present Condition and Future Status of Fannie Mae and Freddie Mac written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Present Condition and Future Status of Fannie Mae and Freddie Mac written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2009 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 and Freddie Mac written by Barbara L. Miles and published by . This book was released on 1995 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Shaky Ground written by Bethany McLean and published by . This book was released on 2015 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role that Fannie Mae and Freddie Mac play in their mortgages. Given the $188 billion government bailout of the two firms the most expensive bailout in history the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. Best-selling investigative journalist Bethany McLean, the coauthor of The Smartest Guys in the Room andAll the Devils Are Here, explains why the situation is dangerous and unsustainable, and proposes a few solutions from the perfect, but politically unfeasible to the doable, but ugly.
Download or read book Privatization of Fannie Mae and Freddie Mac written by Harold L. Bunce and published by DIANE Publishing. This book was released on 1997 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report demonstrates that a significant proportion of prospective homeowners remains underserved by the mortgage finance industry. The report reviews and evaluates the framework of housing goals that has been established by Fannie Mae and Freddie Mac. It finds that the housing goals represent a promising approach to focusing their resources on the mortgage credit needs of homebuyers. Such a programmatic emphasis by these enterprises represents an appropriate exchange for the benefits that they receive through their ties with the Federal government.
Download or read book Privatizing Fannie Mae Freddie Mac and the Federal Home Loan Banks written by Peter J. Wallison and published by American Enterprise Institute. This book was released on 2004 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that privatization of the government-sponsored enterprises is the only viable way to protect the taxpayers and the economy.
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 Fateful History of Fannie Mae written by James R. Hagerty and published by Arcadia Publishing. This book was released on 2012-09-04 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A lucid and meticulously reported book by one of the Wall Street Journal’s ace reporters” (George Anders, Forbes contributor and author of The Rare Find). In 1938, the administration of Franklin Delano Roosevelt created a small agency called Fannie Mae. Intended to make home loans more accessible, the agency was born of the Great Depression and a government desperate to revive housing construction. It was a minor detail of the New Deal, barely recorded by the newspapers of the day. Over the next seventy years, Fannie Mae evolved into one of the largest financial companies in the world, owned by private shareholders but with its nearly $1 trillion of debt effectively guaranteed by the government. Almost from the beginning, critics repeatedly warned that Fannie was an accident waiting to happen. Then, in 2008, the housing market collapsed. Amid a wave of foreclosures, the company’s capital began to run out, and the US Treasury seized control. From the New Deal to President Obama’s administration, James R. Hagerty explains this fascinating but little-understood saga. Based on the author’s reporting for the Wall Street Journal, personal research, and interviews with executives, regulators, and congressional leaders, The Fateful History of Fannie Mae, he explains the politics, economics, and human frailties behind seven decades of missed opportunities to prevent a financial disaster.
Download or read book Fannie Mae and Freddie Mac written by Oonagh McDonald and published by A&C Black. This book was released on 2013-07-18 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership.
Download or read book Fannie Mae s and Freddie Mac s Financial Status written by N. Eric Weiss and published by Createspace Independent Pub. This book was released on 2012-10-20 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fannie Mae and Freddie Mac are charted by Congress as government-sponsored enterprises (GSEs) to provide liquidity in the mortgage market and promote homeownership for underserved groups and locations. They purchase mortgages, guarantee them, and package them in mortgage backed securities (MBSs), which they either keep as investments or sell to institutional investors. In addition to the GSEs' guarantees, investors widely believe that MBSs are implicitly guaranteed by the federal government. In 2008, the GSEs financial condition had weakened and there were concerns over their ability to meet their obligations on $1.2 trillion in bonds and $3.7 trillion in MBSs that they had guaranteed. In response to the financial risks, the federal government took control of these GSEs in a process known as conservatorship as a means to stabilize the mortgage credit market. Congressional interest in Fannie Mae and Freddie Mac has increased in recent years, primarily because the federal government's continuing conservatorship of these GSEs, at a time of uncertainty in the housing, mortgage, and financial markets, has raised doubts about the future of the enterprises and the potential cost to the Treasury of guaranteeing the enterprises' debt. Since more than 60% of households are homeowners, a large number of citizens could be affected by the future of the GSEs. Congress exercises oversight over the Federal Housing Finance Agency (FHFA), which is both regulator and conservator of the GSEs, and is considering legislation to shape the future of the GSEs. Legislation introduced in the 112th Congress, the future of the GSEs, and ways to reduce the cost to the federal government are analyzed in CRS Report R41822, Proposals to Reform Fannie Mae and Freddie Mac in the 112th Congress, by N. Eric Weiss. Estimates of the eventual total cost to the federal government of supporting the GSEs use different baselines and vary widely. FHFA estimates that Treasury is likely to purchase $220 billion-$311 billion of senior preferred stock by the end of 2014. The Congressional Budget Office estimates the budget cost to be more than $300 billion. Standard & Poor's has estimated the cost at $280 billion plus $405 billion to create a replacement system. Under terms of the federal government's support agreement as amended and effective on August 17, 2012, the enterprises will pay the Treasury all of their quarterly profits (if any). Under the previous agreements, the enterprises paid Treasury dividends of nearly $20 billion annually (10% of the support). Paying the federal government all profits earned in a quarter could prevent the GSEs from accumulating funds to redeem the senior preferred stock. However, it would appear that the GSEs could make quarterly redemptions. The financial condition of the GSEs appears to be improving. In the first and second quarters of 2012, both Fannie Mae and Freddie Mac reported profits for the first time since the fourth quarter of 2006. Also, the second quarter of 2012 was first time that neither GSE had to request financial support from the Treasury.
Download or read book Fannie Mae and Freddie Mac written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2010-10 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress estab. Fannie Mae and Freddie Mac (the enterprises) with 2 key housing missions: (1) provide stability in the secondary market for residential mortgages; and (2) serve the mortgage credit needs of targeted groups such as low-income borrowers. To accomplish these goals, the enterprises issued debt and stock, and purchased mortgages from lenders with the proceeds. On Sept. 6, 2008, the Fed. Housing Finance Agency placed the enterprises into conservatorship out of concern that their deteriorating financial condition would destabilize the financial system. This report discusses the enterprises' performance in meeting mission requirements, identifies and analyzes options to revise their structures, and discusses key transition issues. Illus.
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Introduction to Mortgages and Mortgage Backed Securities written by Richard K. Green and published by Academic Press. This book was released on 2013-11-21 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making
Download or read book Fannie Mae Freddie Mac and the Federal Role in the Secondary Mortgage Market written by Deborah Lucas and published by United States Congress. This book was released on 2010 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
