Mortgage-Backed Securities Archive

News recap comments

The news flow from last week was so voluminous it was nearly impossible to process. For good measure I want to start today’s commentary with a simple recap of what happened. On the negative side – · Greece called a referendum and threw bailout plans up in the air taking Greek 2yrs ...Read More

Re: Agency details

[Skip to the end] (an email exchange) >    >   On Sun, Sep 7, 2008 at 8:33 PM, Mike wrote: >    >    >   In exchange the Treasury receives a quarterly fee, dividend payments and >   ”warrants representing an ownership stake of 79.9% in each GSE going >   forward.” >    >   Support of Agency MBS market: The Treasury will ...Read More

Agency take over

[Skip to the end] Recap: If I’m reading it right, the agencies will fund directly through the Treasury. I’ve been suggesting this for many years. This lowers the cost of funds for housing, the point of the entire program, by removing a premium that’s been paid by the lack of an explicit ...Read More