Fannie Mae-No Politics (FNMA)

[hillaryha64]

BILL FROM CORKER WILL FAIL DEFINITELY


Freddie Mac is launching the Mortgage Risk-Sharing Programs to test if it works.

If it does, the bill from Corker will definitely be dead as FMCC is proving that NO NEW ENTITY NECCESSARY, their stand-alone
Risk-Sharing Programs can reduce the government role in backing mortgage-securities, in my opinion.

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Freddie Mac Said to Plan Start of Mortgage Risk-Sharing Deals

By Christopher DeReza & Jody Shenn
Jun 25, 2013 10:58 AM PT

Freddie Mac (FMCC) is preparing to begin selling notes tied to the default risks of pools of home loans, according to a person with knowledge of the plans.

The government-controlled mortgage financier, which typically covers bond investors’ losses after homeowner defaults, hired Credit Suisse Group AG to manage its first deal and plans to meet with potential investors in cities including New York, Boston, Chicago and London starting next week, said the person, who asked not to be identified because terms aren’t set.

“There hasn’t been a deal yet, but we’re expecting there to be at least a couple this year,” Invesco Mortgage Capital Inc. (IVR) Chief Investment Officer John M. Anzalone said during an investor conference on June 12.

The risk-sharing transactions would be similar to the new system of mortgage finance in the U.S. envisioned under legislation to be introduced today by Senators Bob Corker and Mark Warner. While the bill would wind down Fannie Mae and Freddie Mac, it would replace them with a new federal entity that would insure mortgage debt while requiring private firms to take the first 10 percent of losses.