Articles Tagged with ''CBO''

Thanks to Fannie, Freddie, the federal budget deficit looks less frightening

The U.S. federal government ran a budget deficit of approximately $750 billion in the first eleven months of the 2013 fiscal year—a reduction of more than $400 billion from a year earlier thanks in part to higher tax revenue, lower defense spending, fewer outlays for the Troubled Asset Relief Program and $82 billion in payments from the government-sponsored enterprises.
Read More

CBO Study Reviews FHA Accounting Method

Responding to a request by House Budget Committee Chairman Paul Ryan, the Congressional Budget Office (CBO) analyzed the accounting method of the Federal Housing Administration's (FHA's) single-family mortgage insurance program on a fair-value basis and found significant differences over the current accounting method.   The current method of accounting used by the FHA is in according to the Federal Credit Reform Act of 1990 (FCRA).  Under this method, the CBO had estimated that the FHA insurance program would generate a savings of $4.4 billion for fiscal year 2012.  However, when analyzed under the fair-value accounting method, the figure changes
Read More

GSEs Should Be Directly on Treasury's Books: CBO

For all of the press the Treasury/Federal Housing Finance Agency bailout of Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] has received, it's the nuances that are now starting to come into clearer view that will determine the future course of mortgage lending in the United States. The Congressional Budget Office opened up the latest can of worms on Tuesday by suggesting that the Treasury needs to take the full operations of each GSE directly onto its balance sheet.
Read More

Fannie, Freddie Rescue Could Cost $25 Billion

The U.S. Treasury's push to gain the authority to buy equity positions in one or both of Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] could end up costing a pretty penny, as the Congressional Budget Office on Tuesday put out the first published estimate of the cost of government intervention into the two ailing mortgage financial giants since Treasury secretary Henry Paulson proposed the plan two weekends ago.
Read More