Replies to post #391701 on Fannie Mae-No Politics (FNMA)

[sebCS]

Obit, what do you make of the Sessions justice dept still trying to push through a motion to dismiss in Fairholme case? And Mnuchin saying the decision last Tuesday as "good for the Treasury"

[Patswil]

thanks Obit....you still restore my confidence in a positive outcome---I'm GD ready too

[mrfence]

The MBS guarantee liability falls on the GSEs no matter who buys the MBS. Don't give a rats arse about the FRB, LOL!

The System Open Market Account (SOMA), managed by the Federal Reserve Bank of New York, contains dollar-denominated assets acquired via open market operations. These securities serve three purposes:
Collateral for U.S. currency in circulation and other reserve factors that show up as liabilities on the Federal Reserve System's balance sheet
A tool for the Fed’s management of reserve balances
A store of liquidity in the event an emergency need for liquidity arises


Security Type...Total (in Thousands)


Agency Mortgage-Backed Securities***...1,773,621,269.9


Total SOMA Holdings 4,233,262,827.5

Change From Prior Week 12,420,838.8

*Does not reflect inflation compensation of 17,143,514.3

**Fannie Mae, Freddie Mac and Federal Home Loan Bank

***Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the securities.
https://www.newyorkfed.org/markets/soma/sysopen_accholdings.html

So FnF along with Ginnie Mae are currently, and will remain liable for performance of MBS payments in excess of 1.77 trillion dollars... $1,773,621,269,900 plus inflation compensation to be exact.

[Donotunderstand]

very informative