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...For example, you’re getting paid 150bp over Treasuries for the Fannie Mae sixes [Fannie Mae bonds with a 6 per cent coupon], and the average over history is like 75bp. Look at the chart!...
...But I don’t think they’re going to do it. Fannie Mae is paying something like 92 per cent of its revenues to the government, and Freddie is something like 73 per cent....
...I saw this happen first-hand as FDIC chair during the 2008 crisis and, again, as chair of the Fannie Mae board during the pandemic....
...Finally, when the MBS market first started taking off in the 1970s and 1980s it also needed a government quasi-guarantee in the form of backing from agencies like Fannie Mae and Freddie Mac....
...In the US, they are largely possible only through government intervention, since many of the loans end up being guaranteed by government agencies Fannie Mae and Freddie Mac....
...But the bigger picture remains a strong economy and national housing shortage supporting rent growth combined with preferential government financing via Fannie Mae and Freddie Mac....
...Mae and Freddie Mac with the US government....
...Financing for most property (except housing loans supported by the Fannie Mae and Freddie Mac government agencies) is scarce, a result of the US banking crisis and dislocation in debt markets....
...You can make a strong case in principle for placing green conditions on trade if you’re protecting a public good (carbon-sink forests and wildlife habitats), and they are equivalent to domestic environmental...
...After the run on SVB, banks will probably need to reduce their holdings of mortgage-backed securities that are guaranteed by the likes of Fannie Mae and Freddie Mac....
...In fairness to the complaints, the US oversees the industry through a patchwork of existing federal securities, banking and derivatives laws....
...Operating such a market in the US requires the blessing of the CFTC, which regulates the country’s derivatives markets, including futures....
...Spaht led Thoma’s 2018 takeover of mortgage software specialist Ellie Mae for $3.7bn....
...You’re talking tiny margins on big positions,” the executive says. “If hedge funds stopped buying Treasuries, I don’t know who would buy them.”...
...With that in mind, entities such as Fannie Mae and Freddie Mac, which benefit from implicit guarantees, are unlikely to be deliverable....
...And you see this in some of the litigation that Gary Gensler has brought. He’s not suing about Coinbase trading bitcoin. He’s not suing about Binance trading ethereum....
...This was followed by similar deals by other US mortgage agencies such as Freddie Mac and Fannie Mae, to little fanfare....
...Job moves The Federal Deposit Insurance Corporation has appointed former Fannie Mae boss Tim Mayopoulos to run Silicon Valley Bank’s bridge lender following the bank’s collapse....
...Kanter is worried about the size and influence of the industry, telling the FT “we’re seeing a once-in-many generation(s) shift in how markets function” and a “once-in-century inflection point in terms of...
...first successful litigation of its kind against the Japanese tax authority at the Supreme Court....
...And your adviser is telling you, if it happens, you’re going to lose. You’re going to be the losing party in this extremely high-profile proxy contest . . ....
...In fact, they’re trading against their customers often because they’re market-marking against their customers....
...In the US, that cheerleader of free markets, the mortgage sector only functions as it does thanks to a long tradition of federal support through funding providers Fannie Mae and Freddie Mac....
...One important but overlooked detail of the report is that the White House wants financiers handling single-family mortgages, including federal lenders Fannie Mae and Freddie Mac, to factor in climate risk...
...US Supreme Court deals blow to Fannie and Freddie shareholders Shares in Fannie Mae and Freddie Mac plunged by more than a third yesterday after the Supreme Court threw out investors’ claims that the US...
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