For a long time now, Fannie Mae and Freddie Mac have been a favorite punching bag of many members of Congress. Yes, the two GSEs blew a huge hole in the Treasury but within five years (if they are left alone) it’s feasible that their debt will be paid back through earnings. All the cash the two are likely to take in the next five years will NOT be going to common shareholders and ‘retained earnings.’ It will be going into the coffers of Uncle Sam. And suddenly, Congress is starting to realize this very important fact: Fannie and Freddie are a source of government revenue. And all that money can be used for other things besides housing – like a pending immigration bill. (See the story on today’s National Mortgage News website.) Immigration? We kid you not.
NOV 29, 2012
- DocMagic: Delivering 99.999% Uptime Has Positive Impact on Lender Clients
- Nationwide Title Clearing (NTC) Comments on Newly Enacted Mortgage Rules, Expects Market-Driven Effect on Company Practices
- Interthinx: Jumbo Loans Present Much Higher Fraud Risk in Recent Quarter
- Rushmore Loan Management Services Announces Approval as a Freddie Mac Seller/Servicer Company Also Receives Positive Rating from S&P
- DocMagic and Veri-Tax Deploy Automated IRS Tax Transcript Retrieval Tool for Lenders