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Foreign Sovereign Funds Turn Their Backs On The GSEs

Reuters reports the sovereign wealth fund of Kuwait, the KIA, will not be buying any more GSE debt. Exactly what Bernanke and Paulson were attempting to avoid last week, when they rushed to reassure the world the Fannie Mae and Freddie Mac debacle would not hurt investors, just happened. Great…just great. This is truly bad […]

Poole Says Freddie and Fannie Insolvent

I have reported for about 18 months now the two GSEs, Fannie Mae and Freddie Mac are both severely over leveraged. Now I have a former Federal Reserve bank president agreeing with me calling both companies “insolvent”. William Poole, said in a Bloomberg report, “Congress ought to recognize that these firms are insolvent, that it […]

Fannie Mae & Freddie Mac On The Brink of Collapse

Finally I am getting some support for my long standing prediction the GSEs, Fannie Mae and Freddie Mac, are on the verge of collapse. Tuesday the New York Time publish an article which I believe is the first from a major news outlet to even raise the question of their long term viability. The article […]

Freddie Mac Tightens Mortgage Underwriting Standards

Freddie Mac, a company responsible (along with the other GSE, Fannie Mae) for the sound underwriting standards of conventional, prime mortgages, decided last week to tighten it’s underwriting. This Freddie Mac tightening of underwriting standards is probably too little, too late. In the wake of the decision to allow the GSEs to underwrite and insure […]

Jumbo Mortgage Risk Will Topple A Teetering Fannie Mae & Freddie Mac

When President Bush signed the Economic Stimulus Act into law making jumbo mortgages GSE insurable, he may have unwittingly pushed our GSEs, Fannie Mae and Freddie Mac, already on tilt, over the edge. If you think we have a housing crisis now, wait until you see what the demise of the GSEs and subsequent secondary […]

Fannie Mae HomeStay the Answer to Recasting Rate Woes?

Fannie Mae CEO, Daniel H. Mudd testified before the House Committee on Financial Services today and unveiled a commitment to those subprime borrowers who need new options now that their earlier mortgage decisions are proving to be disastrous. In typical “borrow from Peter to pay Paul” fashion, this new initiative involves refinancing out of the […]