Posts Tagged ‘Fannie Mae’
The newest re-election strategy
With the war on the rich, big oil, women and the Supreme Court not gaining enough traction, last week the administration tacked in a different direction…home mortgages.
Read MoreDid they really say that?
Two articles caught my eye this past week. In the first, we learn that Fannie Mae will be asking you, the taxpayer to cough up another $4.6 billion to make up for recent losses.
Read MoreThe Fannie and Freddie political football
For reasons known only to me, I have been following the attacks launched by the Democrats against Edward DeMarco. In 2008 he was appointed to head the newly created Federal Housing Finance Agency.
Read MoreThe housing bust, de ja vu
The housing market collapsed in 2008. Depending upon your political persuasion, we either got there because of greedy bankers, or because the federal government (i.e., Fannie Mae and Freddie Mac) lowered credit standards. Apparently, your government is urging a repeat performance.
Read MoreSEC charges former Fannie and Freddie execs
On Friday, the Securities and Exchange Commission brought civil fraud charges against six former executives of Fannie Mae and Freddie Mac. The complaint charges that the executives knowingly misled the public concerning the extent of subprime and Alt-A (a step above subprime) mortgages that they held.
Read MoreNewt Gingrich stumbles: is it fatal?
A couple of days ago it was Romney with the $10,000 bet, this morning it’s Newt Gingrich trying to explain why he used a liberal attack on Romney. No, not that Romney was a liberal, I mean Newt Gingrich sounded like a liberal himself. And Charles Krauthammer last night took him to task.
Read MoreThe $640,000 question
Yes, I am old enough to remember the quiz show, “The $64,000 Question”. Of course, that was back in the day when $64,000 was a fortune. Recently, Fannie Mae and Freddie Mac spent 10 times that amount sending 100 employees to a “mortgage conference.” I’m not entirely sure what those things are, but, let’s put this in…
Read MoreAnother housing hole for the taxpayer to fill
We learned this past week that the Federal Housing Administration may need you to pull harder. The FHA will issue its annual report this week, but, a soon to be released study by Joseph Gyourko, a real estate and finance professor at the Wharton School, suggests that the FHA will incur about $50 billion in…
Read More2012 election strategy: buy votes with taxpayer money
Let me introduce you to Ed DeMarco. He is the acting director of the Federal Housing Finance Agency, which was created in 2008 to oversee Fannie Mae and Freddie Mac. Mr. DeMarco has held this position since 2009 when the original director left.
Read MoreDon’t worry … we’ll deal with Fannie and Freddie next year
Anyone even casually following the financial crisis, precipitated by the burst in the housing bubble which was inflated by sub-prime mortgages (low interest, no interest, no money down mortgages sold to people with sub prime credit), should know that “ground zero” in this entire meltdown was the quasi government banking institutions Fannie Mae and Freddie…
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