Former Treasury official Jim Millstein argues that taxpayers “stand to make an enormous profit” if the two are allowed to recapitalize, restructure and eventually are sold to “back to private investors.”
A new poll on the Inside Mortgage Finance website tells the story: Just 24 percent of respondents want Fannie Mae and Freddie Mac taken out to the Jersey Meadowlands by Luca Brasi. (Leave the gun, take the cannolis.)
An East Coast-based warehouse executive, requesting anonymity, said he has approached his credit board about such a change, and his waiting to hear back from them.
Construction-to-permanent loans are picking up a head of steam in certain markets. “Down here [in Florida] it’s extremely hot,” said Joe Adamaitis, vice president and residential lending manager for Insignia Bank.
In his report, Guggenheim analyst Jaret Seiberg writes, “There is still anger in Congress over having to put cash into the enterprises in the first time."
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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