Items Tagged with 'Treasury'

ARTICLES

  • Is CEO Donald Layton leaving Freddie Mac?

    Bloomberg reports FHFA, Treasury preparing for Layton’s exit
    Is Donald Layton preparing to leave Freddie Mac? Bloomberg is reporting that the powers that oversee the government-sponsored enterprise, the Federal Housing Finance Agency and the Department of the Treasury, are preparing for a potential exit from the CEO.
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  • Fannie Mae reports income of $4.5B in Q2

    Will pay Treasury $4.5B in Q3
    Fannie Mae reported Thursday it posted a comprehensive income of $4.5 billion in the second quarter of 2018, which was primarily driven by an increase in credit-related income due to the redesignation of loans from held-for-investment to held-for-sale. This income is up slightly from Q1's $3.9 billion, and up from Q2 of 2017, when it saw a comprehensive income of $3.1 billion.
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  • Hensarling blames Watt for GSEs needing Treasury money, demands answers

    Criticizes Watt for ordering Fannie, Freddie to contribute to Housing Trust Fund
    One of the top Republicans in Congress lays the blame for Fannie Mae and Freddie Mac needing money from the government for the first time since 2012 not on the Republican tax plan’s reduction of the corporate tax rate, but rather, squarely at the feet of Federal Housing Finance Agency Director Mel Watt.
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  • Fannie Mae needs billions from Treasury for the first time since 2012. What happened?

    Credit the Republican tax plan, and much more
    If you’ve been playing close attention, you knew this day was coming, but that doesn’t make it any less shocking. Fannie Mae needs money from the government for the first time since 2012. So, how did we get here? The easy answer is to blame the Republican tax plan, and in many ways, that’s correct… but it’s far more complicated than that.
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  • Fannie Mae earnings show 4Q net loss of $6.5 billion

    Expected to ask Treasury for funds to reduce deficit
    Fannie Mae reported a net loss of $6.5 billion and comprehensive loss of $6.7 billion for fourth quarter 2017. The company also added it expects to request an expected billion-dollar provision from the Treasury to eliminate its net worth deficit.
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  • Fannie Mae and Freddie Mac now allowed to hold $3B capital reserve

    "Sufficient to cover other fluctuations in income"
    The Federal Housing Finance Agency announced each government-sponsored enterprise is now entitled to a $3 billion capital reserve. Also in exchange for the capital cushion change, Treasury gets an additional $3 billion a piece in senior preferred stock. But, there's still a catch.
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  • Republican tax plan will trigger another Fannie, Freddie bailout

    Reduction in corporate tax rate would impact GSEs’ deferred tax assets
    On Thursday, the Republicans finally released their highly anticipated tax reform plan, and as it turns out, the Tax Cuts and Jobs Act could bring a flashback to the housing crisis that many thought they’d never see again – another bailout of Fannie Mae and Freddie Mac, according to an investigation by HousingWire.
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  • Monday Morning Cup of Coffee: Is the way the CFPB handles enforcement about to change?

    Nevada senators urge mortgage relief for Las Vegas victims
    Every day, it seems there’s a new rumor surrounding the apparently looming departure of Consumer Financial Protection Bureau Director Richard Cordray. But regardless of what happens to Cordray, the way the CFPB handles enforcement could be changing as we speak. Plus, the senators from Nevada call on the mortgage business to grant relief to victims of the Las Vegas shooting. All that, and more, in your Monday Morning Cup of Coffee.
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