Items Tagged with 'FannieGate'

ARTICLES

Trump Treasury pick Mnuchin opposes recap and release of Fannie Mae, Freddie Mac

Previously said GSE conservatorship will end
For the first three hours of the confirmation hearing of Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury, nearly all of the housing-related discussion centered on the mortgage servicing and foreclosure practices of OneWest Bank, the bank that Mnuchin formerly chaired. But that changed when Sen. Mark Warner, D-Virginia, began questioning Mnuchin about Fannie Mae and Freddie Mac.
Read More

Here's one Fannie Mae bull's take on how the GSEs can exit conservatorship

And what happens to the stock after that
In the weeks since Steve Mnuchin sent shockwaves through the housing industry by stating that the Trump administration planned to end the conservatorship of Fannie Mae and Freddie Mac, reactions varied on whether that can actually be done and how expensive it might be. Here's an interesting take from an interested party on how the GSEs might actually exit conservatorship and what that would mean to the GSE stockholders who've waited quite a few years for a resolution.
Read More

Moody's: Privatizing Fannie Mae, Freddie Mac would cost "hundreds of billions"

Report predicts disruption to secondary market
Steve Mnuchin, President-elect Donald Trump’s choice to lead the Department of the Treasury, recently said that “getting Fannie and Freddie out of government ownership” is one of the Trump administration’s top 10 priorities. But just how realistic is that plan? According to a new report from Moody’s Investors Service, privatizing the GSEs is not only unlikely to happen any time soon, it’s also hugely cost-prohibitive, and it would be a negative for bond investors as well. Other than that, Mrs. Lincoln, how was the show?
Read More

Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized

Steve Mnuchin tells Fox Business: "We’ll get it done reasonably fast"
Making the media rounds after being selected to serve as Treasury secretary by President-elect Donald Trump, Steve Mnuchin dropped a bombshell about the future of Fannie Mae and Freddie Mac. Rather than be wound down, as some advocate for, Mnuchin said the government-sponsored enterprises will be taken out of “government ownership,” restructured, and privatized.
Read More

Critics still unhappy with Fannie, Freddie conservatorship

Future of GSEs still uncertain under a Trump administration
The lack of attention given to housing during the presidential campaigns leaves many skeptical that the next administration has any plans for mortgage giants Fannie Mae and Freddie Mac. Some wonder if only another housing crisis will push the government to move the two GSEs into a more permanent structure.
Read More

Feds appeal decision to release #FannieGate memos

Claim that court made severe, irreversible error
The government is now fighting back against the court’s decision that ordered them to release 56 documents to the public that could show that the Treasury took over Fannie Mae and Freddie Mac despite the secondary mortgage market firms being adequately capitalized. Now, however, the government claims the judge made that decision based on a misunderstanding of the principles that govern executive privilege.
Read More

Federal court tosses #Fanniegate suit seeking to inspect Freddie Mac's records

Tim Pagliara, leader of Investors Unite, wanted a look at Freddie's books
In what is already being called a "blow to shareholders," a federal court in Virginia ruled Tuesday that a Freddie Mac shareholder does not have the right to inspect the government-sponsored enterprise's financial records, thanks to the conservatorship agreements that went into effect when the government took over Freddie Mac and Fannie Mae.
Read More

Congressional Democrats join push to recapitalize Fannie Mae, Freddie Mac

32 Democrats say lack of GSE capital holds "serious consequences"
Well, now it's officially coming in from all sides. Recently, a coalition of Conservative groups joined the charge to allow the government-sponsored enterprises to rebuild capital. Now, it’s not just Conservatives pushing for the recapitalization of Fannie Mae and Freddie Mac, Congressional Democrats are joining the fight too.
Read More