Dave Stevens’ Alternate Reality

Monday, September 11, 2017

According to Dave Stevens, everything seems to be in place for his members – the Too Big to Fail (TBTF) Banks — to displace Fannie Mae and Freddie Mac. As the conservatorship of the two government sponsored enterprises (GSEs) enters its ninth year, Mortgage Bankers Association President David H. Stevens myopically believes that all that […]

Let This One be the Last “Unhappy Anniversary”

Tuesday, September 5, 2017

Fannie Mae and Freddie Mac this week begin their ninth year in captivity. Far from languishing in the government-run conservatorship, the government sponsored enterprises (GSEs) have become model prisoners of sorts. They have shed flab, changed their ways and more than paid back their proverbial debt to society. The Trump Administration has the authority to […]

Shareholders Press Government to Stop Postponing the Inevitable

Wednesday, August 16, 2017

The needless exercise in pulling teeth continues as shareholders in Fannie Mae and Freddie Mac were forced yet again this week to seek a court order to get access to documents that have no business remaining walled off. The three-year battle to open up the most voluminous privileged log in the country’s history focused this […]

More Government Contradictions, Questions and Secrecy

Monday, August 14, 2017

A few more documents relevant to machinations about the Net Worth Sweep have been made public and they add to an already compelling case of a disconnect between private deliberations and public statements about the policy shift on the conservatorship of Fannie Mae and Freddie Mac five years ago this week. On August 14, 2012, […]

More Questions than Answers about Conservatorship Capital Framework

Tuesday, August 8, 2017

As their capital reserves dwindle thanks to the Net Worth Sweep, it looks as though Fannie Mae and Freddie Mac are directing more attention to the subject. In Freddie’s 2016 year-end 10-K filing and in both Fannie Mae and Freddie Mac’s 10-Qs for the second quarter of 2017, there is reference to the Conservatorship Capital […]


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