OFHEO, Fannie Mae and Freddie Mac, announced March 19, 2008, initiative to increase liquidity in support of the U.S. mortgage market.  This could provide up to $200 billion of immediate liquidity to the mortgage-backed securities market. OFHEO estimates that Fannie Mae's and Freddie Mac's existing capabilities, combined with new initiative and release of portfolio caps announced in February, should allow GSEs to purchase or guarantee about $2 trillion in mortgages during 2008. This capacity will permit them to do more in the jumbo temporary conforming market, subprime refinancing and loan modifications areas. As a part of this initiative, both companies announced that they will begin to raise capital, and would maintain overall capital levels in excess of requirements while the mortgage market recovers.
Posted by Harrison K. Long, Explore Properties Group, March 20, 2008. www.ExploreRealEstate.net
 
Posted by Harrison K. Long - Realtor, Broker & Lawyer on 03/20/2008 10:36 AM   Comments (0)  

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Real Estate Agent: Harrison K. Long - Realtor, Broker & Lawyer (Explore Properties Group, Coldwell Banker Previews)
Harrison K. Long - Realtor, Broker & Lawyer
Irvine, CA
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