Short Takes: About Those GSE Dividend Payments…
The Man Wants to be Paid
Record Attendance at ABS East
LendingTree Buys Snap Capital
By Paul Muolo, Brandon Ivey ... pmuolo@imfpubs.com, bivey@imfpubs.com
At the end of September, the Federal Housing Finance Agency is expected to order its wards – Fannie Mae and Freddie Mac – to make their regularly scheduled dividend payments to their controlling shareholder, the U.S. Treasury Department.
As a Freddie spokeswoman pointed out: the payments – roughly $5 billion this time around – are paid at the direction of the FHFA.
So, has the conservator given the order yet ? Not that we can tell.
No one in charge would comment on the record, but a source suggested that interested parties should check the FHFA website because it will be updated in “regular course…”
In other words, the FHFA will once again order the dividends to be paid to Treasury. Keep in mind that President Trump is a businessman who – from past experience – likes to get paid on time…
More than 4,100 people registered for ABS East, a record for the conference, though attendance is down somewhat due to complications involving Hurricane Irma. And for those wondering about the goodies available in booths at the exhibit hall, “fidget spinners” are one of the most popular offerings this year. If you don’t know what a fidget spinner is, ask your kid…
LendingTree said it has acquired “certain assets” of Snap Capital LLC, an online platform connecting business owners with lenders offering small business loans, lines of credit and merchant cash advance products through a concierge-based approach. The publicly traded mortgage vendor said the purchase should cost about $21 million: $12 million in cash at closing, and contingent consideration payments of up to $9 million.
