Fannie, Freddie, and FHA Influence You – 8 posts

They are 90%+ of the mortgage market …..  (BC)

No Money Down Mortgages Continue – Eric Falkenstein – …  FHA is aggressively promoting lending with only 3.5% down, and the $8k tax credit for buying a house less than $200k…. A person who can’t afford a down payment should not be in a home. One needs capital to pay for routine maintenance, and most importantly, if something major happens, like if a heater breaks. A renter is someone who does not have the wherewithall to handle these large, unanticipated expenses … The government’s program reminds me of the technique children independently discover to make it look like they’ve eaten up hated peas or carrots: spread them around the plate. … – Falkenblog

————

Fannie Landlord: Fannie Pushes Rental Alternative to Foreclosure – by DIANA GOLOBAY -  Mortgage giant Fannie Mae released details Thursday of a deed-for-lease program designed to offer borrowers an alternative to foreclosure.  The Deed-for-Lease (D4L) Program aims to minimize neighborhood blight and encourage house price stabilization by cutting down on foreclosures, real estate-owned (REO) and vacant properties, and distressed home sales. – HousingWire

————

   + 

Fannie’s Draws From Emergency Treasury Fund Reach $60 Billion – by Dawn Kopecki – Nov. 6 (Bloomberg) — Fannie Mae, the mortgage buyer seized by regulators, plans to tap emergency U.S. capital for a fourth time this year, bringing its draws of taxpayer money to $60 billion as the company sees no immediate end to its losses. – Bloomberg

and
Fannie Mae asks for $15 billion in additional funding – John Letzing -  Shares fall nearly 10% in late trading as lender asks for funding by Dec. 31 – MarketWatch

————

It’s ok to do the trade - Statement of FHFA Acting Director Edward J. DeMarco Concerning the Possible Transfer of Fannie Mae Low-Income Housing Tax Credits to Investors – FHFA.gov Press Release

————

Freddie Mac loses $6.3B in 3Q – by ALAN ZIBEL - Freddie Mac says its losses narrowed to $6.3 billion in the third quarter and the company didn’t need a federal cash infusion. -  AP Forbes
————

Bailout: $15 Billion More to Fannie Mae (and More to Come) - by Paul Kiel – The Treasury Department will pump $15 billion more into Fannie Mae, the company announced last night. That brings Fannie’s total bailout to $59.9 billion; together with its sibling Freddie Mac, the toll has risen to $110.6 billion. – ProPublica  
————

good treatise on FNMA’s current status – When Does The CHARADE Stop? (Fannie) – It’s a policy (according to Barney Frank) to lose money on purpose, right?  Well then Fannie Mae ought to get some sort of award: … – Market Ticker