Posted To: MND NewsWire
Fannie Mae and Freddie Mac (the GSEs, or "government-sponsored enterprises") were already well past having paid back taxpayer bailouts before this week's earnings releases. Freddie Mac has paid back $36.9 billion more than it drew from taxpayers and the number is $46.6 billion for Fannie Mae. Both have capital buffers at the moment, but those are slated to be drawn down to $0 by the beginning of 2018. Neither the GSEs nor their overseer the FHFA are too thrilled about that. The GSEs have now joined FHA in firing warning shots about potentially fighting that fate. FHFA Director Mel Watt fired his warning shot earlier this year. Before authorizing a full sweep of profits in the first quarter, he told congress he was concerned about the planned drawdown and not to be surprised if he took steps...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2hubvBU
No comments:
Post a Comment