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Ten Terrible Years and a Prelude to More of the Same

Wednesday, September 12, 2018

It is now over ten years since Fannie Mae and Freddie Mac were placed into a government conservatorship as the U.S. economy inched toward a catastrophic free fall. And where do things stand? For one thing, what could have been a decades-long coma in the housing sector turned out to be a relatively short health […]

Which is it Mike and Ed? Ample Capital or No Capital?

Friday, July 27, 2018

After almost ten years, it is easy to assume that everything that needs to be said about Fannie Mae and Freddie Mac has been said and that everyone’s position is clear. However, recent comments about the Federal Housing Finance Agency’s (FHFA) proposed rule for revised capital requirements for the government sponsored enterprises include a few […]

Fifth Circuit Court of Appeals Upholds The Net Worth Sweep, Exposes Taxpayers

Wednesday, July 18, 2018

In an otherwise disappointing ruling handed down by a federal appeals panel July 17, a dissenting view once highlighted the damage done by the government’s ongoing abuse of its statutory authority in confiscating the profits of the government sponsored enterprises Fannie Mae and Freddie Mac. A three-judge panel of the U.S. Court of Appeals for […]

Incumbents Beware: Mortgage Market Conditions Can Tip the Next Election

Friday, May 11, 2018

President Trump and Members of Congress know political strategist Jim Carville’s 1992 maxim, “It’s the economy, stupid,” still holds. Iran’s nuclear program, U.S. relations with Europe, and even battles over scandals matter much less to average Americans than whether they have decent-paying jobs. This week, a pair of economists refined the adage to, “It’s the […]

Another Year, Another Reminder the Net Worth Sweep Must End

Thursday, May 3, 2018

Fannie Mae reported robust first quarter earnings earlier this morning, with comprehensive income of $3.9 billion. Courtesy of the Net Worth Sweep, by June of this year Fannie expects to pay Treasury a dividend payment of $938 million. With this latest installment, Fannie will then have paid back Treasury and taxpayers its original bailout funds […]