The 2008 Housing and Economic Recovery Act stipulated that the baseline limit could not be lowered when house prices were falling. And during recovery, there could be no increase until the HPI reached its previous high, in the third quarter of 2007.
The authors want the Treasury Department to end the quarterly profit sweep and allow Fannie and Freddie to raise about $100 billion in additional capital through several rounds of new common stock sales...
The goal of the program is to help stabilize neighborhoods that were hardest hit by the real estate downturn by letting local community organizations review and purchase foreclosed properties first.
The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.
Since the federal takeover, the Treasury Department has provided $116.1 billion in assistance to Fannie with the GSE returning (once the 3Q dividend is paid) $144.8 billion...