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American Banker - On Focus and In Depth

Wednesday, March 17, 2010, as of 09:42 PM EDT
Topic Editor Rob Blackwell

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GSEs

Some of the first — and still largest — casualties of the housing crisis were the government sponsored enterprises. The Federal Housing Finance Agency — the new GSE regulator created on July 30 — placed Fannie Mae and Freddie Mac into conservatorship on Sept. 7. The agency replaced their chief executive officers and said it would deemphasize the pursuit of profits. Since placed in conservatorship, the two companies have taken government-directed steps to help encourage more loan modifications even while they continue to suffer massive losses. The future of the companies is wide open. Treasury Secretary Henry Paulson has said the charters need to be rewritten, and Democrats could take such steps next year as part of regulatory restructuring. Following are a collection of articles on policy issues surrounding the government-sponsored enterprises.

No Exit? Delayed GSE Plan Limits New Options

American Banker | Mar 15

The Obama administration's reluctance to put forth a plan for Fannie Mae and Freddie Mac only increases the chance that the GSEs will become permanent arms of government.

Haggles Over Loan Buybacks Leave Freddie Mac Waiting for $4B

American Banker | Feb 25

It's no secret that GSEs have been aggressively pushing dicey mortgages back to lenders. But data released by Freddie Mac shows lenders are doing plenty of pushing back.

Fannie, Freddie No Longer Fight Each Other for Lenders' Business

American Banker | Feb 18

Fannie Mae and Freddie Mac, once fierce rivals for mortgage lenders' business, have been forced into a kinship of sorts under federal conservatorship.

FASB Rule Complicates GSEs' Future

American Banker | Jan 25

The GSEs are being hit hard by a rule released last summer by the Financial Accounting Standards Board requiring companies to bring securitizations onto their balance sheets.

Johnson to Confront GSE Issue; "Pragmatic" Leadership Expected

American Banker | Jan 07

Even as Senate Banking Committee Chairman Chris Dodd announced his plan to retire, speculation began over how his probable successor, Sen. Tim Johnson, would handle the tricky ...

More Help for GSEs May Mean Changes to Hamp

American Banker | Dec 29

The Treasury Department's pledge of unlimited support for Fannie Mae and Freddie Mac may foreshadow changes to the Obama administration's Home Affordable Modification Program.

FHFA Takes Aim at GSE Compensation

American Banker | Dec 28

As Fannie Mae and Freddie Mac enter another year under government conservatorship, their regulator clamped down on executive compensation Thursday.

Treasury Extends Support for GSEs

American Banker | Dec 28

On the same day that Fannie Mae and Freddie Mac announced multi-million dollar compensation packages for its chief executives, the Treasury Department expanded ...

How Reform Minus GSEs Will Add Up

American Banker | Dec 28

Observers say that, while politically expedient, the decision by the Obama administration and congressional leaders to exclude Fannie and Freddie from their reform efforts ...

GSEs Find Seized Homes Easier to Empty than Rent

American Banker | Oct 14

The foreclosure crisis has turned Fannie Mae and Freddie Mac into big property owners, but neither has become a significant landlord.