Fannie Mae-No Politics (FNMA)

[whipstick]

By Paul Muolo
[e-mail]
Unless Federal Housing Finance Agency Director Mel Watt changes his mind about altering the regularly scheduled quarterly GSE dividend payments, you can anticipate that come Dec. 29 (the last business day of the month), Fannie Mae and Freddie Mac will fork over checks totaling $7.7 billion to the U.S. Treasury. (It?s probably a wire transfer and not a check.) What possibly could alter this course of events? See the Friday edition of Inside Mortgage Finance for an update on the situation?
In a new blog posting, Investors Unite asks the basic question: ?Are Fannie?s and Freddie?s foes driving GSE reform?? IU bills itself as a shareholder rights group fighting for individuals and institutions that own GSE junior preferred and common. Of late, we?ve heard no talk whatsoever about GSE reform rewarding this class of investors, though it?s possible that could change?

oh Paul. It's the only class of investors ya dingus! but let's not let the facts get in the way of the bank's paying your salary