Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

No question about it, the winners of the twins 15 year CONservatorships and the biggest beneficiaries are in order of magnitude:

1. The US Treasury
2. The TBTF banks stuffing their Balance Sheets with higher portfolio mortgages with interest rates elevated by the elevated GFees. Hell, Bill, when I worked at Fannie Mae from 88-93, average MBS Guarantee Fees were 20-25bps (Tim Howard and Tom Lawler could earn a little over 100bps on the Portfolio mortgages), TODAY hard working American Families pay nearly 3 times that and the TBTF banks love the Status Quo.
3. The Lawyers