Roughly $148 billion of single-family agency MBS were issued last month, down almost 3 percent from April’s level. May was the slowest month for agency MBS issuance so far in 2013.
Among the many allegations, the plaintiffs charge that the seizure of Fannie and Freddie was “unlawful and unwarranted” and represents an unconstitutional violation of due process which cost investors billions of dollars.
Testifying before a Senate panel earlier this year, HUD Secretary Shaun Donovan warned that sequestration would limit the FHA’s ability to provide information and services in a wide range of areas.
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