Fannie Mae-No Politics (FNMA)

[navycmdr]

Fannie, Freddie hire advisers to help raise capital

By George Yacik June 16, 2020, 8:08 a.m. EDT



Hired guns

Fannie Mae and Freddie Mac “hired major Wall Street firms to advise them on raising fresh capital as they move to exit government control, ” with Fannie choosing Morgan Stanley and Freddie hiring JPMorgan Chase. “The moves are the latest in the years long effort to return the mortgage companies to private ownership after they were bailed out by the government during the financial crisis. The banks’ advisory roles won’t preclude them from potentially lucrative contracts to help underwrite any new public offerings of shares.”

“Officials have talked about public offerings of shares in 2021 or 2022, but have set no hard deadline.

FHFA director Mark Calabria told Senate lawmakers last week that the process of allowing the companies to exit government control has been delayed three or four months by the fallout from the coronavirus pandemic.

He said there could be further delays if a significant portion of the millions of homeowners who were allowed to pause their mortgage payments due to the pandemic are unable to get current on their loans.”

Calabria has completely morphed to a SWAMP CREATURE ......
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