GSE Changes Will Speed Up Their Wind Down – 9 Posts, Some Surprises

BillCoppedge_26Nov2011original content selection by

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Treasury aims to speed up Fannie, Freddie payback – By Jon Prior – Housingwire 
Statement of FHFA Acting Director Edward J. DeMarco On Changes to Fannie Mae and Freddie Mac Preferred Stock Purchase AgreementsFHFA Press Release
U.S. Revises Payment Terms For Fannie Mae, Freddie Mac – By Cheyenne Hopkins and Clea Benson – Bloomberg


(Preferred holders get hosed) Fannie Mae (preferred) Shares Tumble on Treasury Bailout Change – Fannie Mae preferred shares tumbled, with one issue falling as much as 80 percent, after the U.S. adjusted its bailout agreements with the mortgage financier and rival Freddie Mac. -  Bloomberg Buasinessweek  – (if US Treasury gets all profits there is nothing left to pay preferred shareholders BC)


GSEs expected to unload delinquent loans after Treasury change – By Jon Prior – Analysts expect Fannie Mae and Freddie Mac to begin unloading more distressed mortgages from their portfolios after the Treasury Department accelerated their wind down. Both government-sponsored enterprises will now be required to cut their retained portfolios by 15% annually over the next several years until hitting $250 billion. – Housingwire 
Treasury to wind down GSEs faster, only to be replaced with (insert solution here) – Posted by Jacob Gaffney – Housingwire

Treasury Will Speed Up Wind Down of GSEs—They Can’t Keep Profits – Paul Muolo – National Mortgage News

Fitch: Future Steadily Brightening for Fannie, Freddie – BY: RYAN SCHUETT – The M Report


Agency Mortgage REITs Likely To Benefit From Treasury’s Modifying Fannie, Freddie Backing Terms – Zvi Bar – … While the market has already generally deemed the potential for agency default relatively improbable, this measure will only further lessen that potential. Moreover, and assuming that the perceived intended goal behind this policy change works, continued Chinese buying of such debt should also be positive for agency mREITs, as the demand should help provide price support to an already richly valued asset class. M … – Seeking Alpha

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