Tuesday, October 2, 2012

mortgage backed securities

guaranteed by Fannie and Freddie as corporations, not guaranteed by government as of 2007

Fed buys $22 billion of GSE's MBS late September 2012 

Fannie and Freddie unfinished business 2010 economist 

value of GSE stock goes to 0 (2010) only debt obligations will be repaid 

adds $5 trillion to U.S. debt?and transition ...?

China own a few hundred billion in Fannie Freddie MBS 2011 

2009 Fannie Freddie 5.4 trillion outstanding obligations

AEI panel June 2012

Freddie total debt outstanding 2012 $585 billion

Fannie total debt outstanding 2012 652 billion

GSEs August 2012 charge high fees to guarantee loans ... use financial markets instead 

FHFA orders GSE to charge high fees ... so that they would guarantee fewer loans from now on (starting November 2012)

Treasury changes GSE terms in August 2012 ... so China will keep on purchasing MBSs 

u.s. taxpayers now liable for GSE guarantees and debt 2008

how to eliminate GSEs cnn money late 2011 

american interest history lesson on GSEs 

May 2012 90% of morgages guaranteed/issued by GSEs not so in 2001-2007

7.1 million home mortgages in 2011 new low

By 2007, 50% US mortgages subprime, 70% guaranteed by GSEs 

Federal reserve purchases 1.25 trillion MSBs in 2009 and 2010 

u.s.government issued or guaranteed 97% of all mortgages in 2009 

FHFS: taxpayers invested 185 billion in GSEs by 2011 

plans to wind down fannie and freddie 2011 

phasing out fannie and freddie 

economist 2012 cost of gse bailout will eventually only be $28 billion 

npr 2011 130 billion and counting 

2010 CBO report on Fannie and Freddie 

Treasury GSE MBS program $167 billion June 2009 

QE3 a veiled attempt to shut down Fannie and Freddie seeking alpha 

is there a guarantee?

animosity between Geitner and DeMarco 

2008 MBS outstanding $3.8 trillion 

us agency mbs issuance through 2012

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