fannie mae multifamily: Multifamily Fannie Mae impact unknown - 09/08/08 12:12 PM
Reading over several articles this weekend and this morning, one item stuck out clearly for me.
The GOOD news is every American taxpayer is now a real estate investor who owns trillions of dollars worth of real estate mortgages.
The BAD news is every American taxpayer is now a real estate investor who owes trillions of dollars in mortgage debt.
The news that Fannie and Freddie Mac were place in a conservatorship was good news for the market. The term beats the heck out of calling it a bankruptcy. The Feds can go in almost any direction in making this … (4 comments)
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fannie mae multifamily: Banks left holding Fannie's bag. - 09/07/08 09:05 PM
The Fed takeover of Fannie and Freddie came as no surprise with speculation running rampant for weeks on how not when it would happen. Many analysts felt that some sort of capitalization from the Feds would be the best approach as it would best serve the faithful investors (and speculators) who have so much at stake.
However, the bailout effectively nationalized the mortgage industry with the government taking over and becoming the top dog moving ahead of all other investment positions. Investors had paid billions to ensure their positions as preferred stockholders. How this will affect those investors remains … (6 comments)
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fannie mae multifamily: Banks continue trying to dodge bullets - 09/05/08 10:16 AM
It’s apparent that our banks are not made of steel like superman.
The latest bullet is the HELOC. All of the major banks are reporting the highest delinquencies in more than a decade.
The biggest concern is the plunging home values of homes making a huge amount of the loans basically unsecured. Americans now have over $1 TRILLION dollars of HELOC debt on the books.
Many of the largest banks have made some move to limit the availability of credit lines by closing them. However, National City has gone one step further … (3 comments)
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