DeMarco Pushes GSE Reform a Step Further, Creating New Entity to Manage Common Securitization Platform
March 7, 2013
Industry observers are scratching their heads after the Federal Housing Finance Agency this week took another step toward a future secondary mortgage market by announcing a plan to establish a single entity that would be used by Fannie Mae and Freddie Mac – and at some point, perhaps, private issuers – to issue mortgage-backed securities. Acting FHFA Director Ed DeMarco, in a speech before the National Association for Business Economics, laid out his plan for a single MBS platform that would be run by, and apparently developed by, an entirely new government entity “separate” from Fannie and Freddie. The platform, he promised, would have...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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