Fannie Mae-No Politics (FNMA)

[ron_66271]

Being the Insurer is Free Money When Nothing Happens.

Insuring a good driver is free money.

Free money for the Trustees from late 1900s to 2008.
The Trustees paid for the Insurance (CDS) not the CMO/CDO Originators like F&F, WaMu...

As I said, DB was the Trustee for WMB/Long Beach.

And, according to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F .”

JPM was the dominant generator of Derivative Contracts, 57% of the Market.
AIG was NOT a primary Derivative writer.
AIG was probably more of a clearinghouse for the Contracts.

No, I’m not digging for a link. The referenced bulletpoint answered the question.
The ABS/RMBS (CMO-CDO) Prospectus was rather boilerplate in that the trustee is required to insure the portfolio.



Ron