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Tag Archives: Fannie Mae

Fannie Mae, Freddie Mac Q3 Earnings Reports Fuel Bailout Speculation

The GSEs have been under FHFA conservatorship since September 2008, at which time they needed a combined bailout of $187.5 billion from taxpayers in order to stay afloat and "preserve and conserve their assets and property and restore them to a sound financial condition so they can continue to fulfill their statutory mission of promoting liquidity and efficiency in the nation's housing finance markets," according to FHFA's website.

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Fannie Mae’s Q3 Net Income Totals $2 Billion Despite Steep Decline

Though Fannie Mae was profitable in Q3, the Enterprise’s net income and comprehensive income both declined by more than 50 percent from the previous quarter when it reported totals of $4.6 billion and $4.4 billion, respectively. The decline in net income was primarily due to fair value losses which were partially offset by credit-related income.

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House Postpones Vote on Proposal to Cap Salaries of Fannie Mae, Freddie Mac CEOs

Watt said in a statement in July that the purpose of the pay raises was to "promote CEO retention, allow reliable succession planning, and ensure the continuity, efficiency and stability" at Fannie Mae and Freddie Mac. Watt's predecessor, Ed DeMarco, capped the GSE CEO pay at $600,000 a year more than three years ago after four years of conservatorship.

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Investor Sues FHFA and Treasury Over GSE Profits

Robinson contends that despite posting record losses for 2007 and the first half of 2008, shortly before the government seized control of them, Fannie Mae and Freddie Mac were always capable of paying their debts and were never in danger of insolvency. The complaint contends that Fannie Mae and Freddie Mac took a relatively conservative approach to investing in mortgages during the years 2004 to 2007, the so-called “housing bubble,” during which many institutions were not conservative where the mortgage market was concerned.

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Treasury Official Decries Push to ‘Recap and Release’ Fannie Mae and Freddie Mac

In an editorial titled “How Not to Fix Fannie and Freddie,” Antonio Weiss, Counselor to the Treasury Secretary, called the push to recapitalize the GSEs and release them from the FHFA’s conservatorship “misguided.” Weiss claims that such a “recap and release” proposal, if executed, could raise the cost of mortgages and potentially expose American taxpayers to another bailout.

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