Sean Purcell and I recorded a teleconference for California REALTORS about the Treasury bailout of the GSEs.
We talk about what exactly happened and what the near-term (3-4 month) effects and medium-term (12-18 month) effects on underwriting guidelines and rates. We also guessed at what the long-term (2-10 years) effect on conforming loans will be, in light of the mandate for the GSEs to reduce their portfolios.
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