Treasury provides three options to replace Fannie, Freddie

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Mortgage giants Fannie Mae and Freddie Mac are blamed to greater or lesser degrees – depending on the political ideology of the finger-pointer – for their roles in the 2008 financial meltdown.

Statement by Secretary Tim Geithner on Treasury’s Commitment to Fannie Mae and Freddie Mac. Treasury will also increase the size of the GSEs’ retained mortgage portfolios allowed under the agreements – by $50 billion to $900 billion – along with corresponding increases in the allowable debt outstanding.

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Fannie Mae and Freddie Mac – HUD User – FHFA replaced the Office of Federal housing enterprise oversight. The Treasury Department also contracted with Fannie Mae and Freddie Mac to act as. The program also provides loan servicers and investors with the option of reducing.. areas, and (3) mortgages made to very low-income families and low- income.

The second option would keep the government’s involvement reduced and focused on low- and moderate-income buyers, but would also provide a government backstop. as well as the price on guarantees at.

The agreements will replace the 10 percent dividend payments made to Treasury on its preferred stock investments in Fannie Mae and Freddie Mac with a quarterly sweep of every dollar of profit that each firm earns going forward.

The CSP, in concert with Fannie Mae, Freddie Mac, FHFA, the U.S. Department of the Treasury and other market participants (including SIFMA), has decided that creating a TBA that allows delivery of either Fannie Mae or Freddie Mac is the best shot for the Freddie Mac concession to go away.

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They would issue the Treasury $1 billion in preferred stock with a 10% dividend. Finally, they’d issue warrants for up to 79% of the companies to the Treasury. The boards had no choice. They agreed and were promptly dismissed. All told the U.S. Treasury extended $187.5 billion in loans to Fannie Mae and Freddie Mac.

Currently, Fannie and Freddie. to replace the mortgage giants. The treasury department put forward a plan last month that suggested three options. At the hearing, Mortgage Bankers Association.

This means for the next 2 years, we anticipate the GSEs will earn profits each quarter and forward to the U.S. Treasury. There have been several efforts in Congress to dismantle both Fannie and.

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