Another fund participating in the Public-Private Investment Program terminated its investment period, suggesting the PPIP is less useful for investors in non-agency mortgage-backed securities than investing without the help of the Troubled Asset Relief Program. The Treasury Department recently announced that the RLJ Western Public-Private Investment Fund ended its investment period on July 15. Invesco’s PPIF made a similar announcement in September and ended its participation in the PPIP in April, leaving ... [Includes one chart]
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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