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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 […]

“Looking at” GSE Reform for Ten Years – and Counting

Wednesday, May 2, 2018

Steven Mnuchin was not even confirmed as Treasury Secretary when he assured in the fall of 2016 that GSE reform would be a top priority for the Trump Administration. That’s still his position. And it will be his position next year. The great GSE reform move of 2017 and 2018 will come in 2019, he […]

Time to Stop Taking Non-Serious GSE Reform Plans Seriously

Friday, March 23, 2018

As the tenth anniversary of the financial crisis that nearly brought down the global economy nears, it is astounding that ill-conceived experiments that would expose taxpayers to the risk of future bailouts are still being debated. But that is exactly what is going on. Mortgage Bankers Association President David Stevens earnestly hopes Congress will agree […]

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