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| business assets freddie mac: Privatization of Fannie Mae and Freddie Mac Harold L. Bunce, 1997 This report demonstrates that a significant proportion of prospective homeowners remains underserved by the mortgage finance industry. The report reviews and evaluates the framework of housing goals that has been established by Fannie Mae and Freddie Mac. It finds that the housing goals represent a promising approach to focusing their resources on the mortgage credit needs of homebuyers. Such a programmatic emphasis by these enterprises represents an appropriate exchange for the benefits that they receive through their ties with the Federal government. |
| business assets freddie mac: Guaranteed to Fail Viral V. Acharya, Matthew Richardson, Stijn van Nieuwerburgh, Lawrence J. White, 2011-03-14 Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets. |
| business assets freddie mac: Quarterly Information Statement Farm Credit System (U.S.), 1997 |
| business assets freddie mac: The Role of Fannie Mae and Freddie Mac in the Financial Crisis United States. Congress. House. Committee on Oversight and Government Reform, 2009 |
| business assets freddie mac: Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market Deborah Lucas, United States. Congressional Budget Office, 2010 |
| business assets freddie mac: Pious Property Bill Maurer, 2006-01-09 Owning a home has always been central to the American dream. For the more than one million Muslims in the United States, this is no exception. However, the Qur'an forbids the payment of interest, which places conventional home financing out of reach for observant Muslims. To meet the growing Muslim demand for home purchases, a market for home financing that would be halal, or permissible under Islamic law, has emerged. In Pious Property, anthropologist William Maurer profiles the emergence of this new religiously based financial service and explores the ways it reflects the influence of Muslim practices on American economic life and vice versa. Pious Property charts the development of Islamic mortgages in America, starting with Islamic interpretations of the prohibition against riba—literally translated as increase but interpreted as usury or interest. Maurer then explores the different practices that have emerged as permissible options for Islamic homebuyers—such as lease-to-own arrangements, profit-loss sharing, and cost-plus contracts—and explains how they have gained acceptance in the Islamic community by relying on payment schemes that avoid standard interest rate payments. Using interviews with Muslim homebuyers and financiers, and in-depth analysis of two companies that provide mortgage alternatives to Muslims, Maurer discovers an interesting paradox: progressive Muslims tend to use financial contracts that seemingly comply better with the prohibition against interest, while traditional Muslims seem more inclined to take on financing very similar to interest-based mortgages. Maurer finds that Muslims make their decisions about using Islamic mortgage alternatives based not only on the views of religious scholars, but also on their conceptions of how business is supposed to be conducted in America. While one form of Islamic financing is seemingly more congruent with the prohibition against riba, the other exhibits more of the qualities of American mortgages—anonymity and standardized forms. The appearance that an Islamic financing instrument is legal and professional leaves many Muslim homebuyers with the impression that it is halal, revealing the influence of American capitalism on Muslim Americans' understanding of their religious rules. The market for halal financial products exists at the intersection of American and Islamic culture and is emblematic of the way that, for centuries, America's newcomers have adapted to and changed the fabric of American life. In Pious Property, William Maurer explores this rapidly growing economic phenomenon with historical perspective and scholarly insight. |
| business assets freddie mac: FDIC Quarterly , 2009 |
| business assets freddie mac: The Fateful History of Fannie Mae James R. Hagerty, 2012-09-04 “A lucid and meticulously reported book by one of the Wall Street Journal’s ace reporters” (George Anders, Forbes contributor and author of The Rare Find). In 1938, the administration of Franklin Delano Roosevelt created a small agency called Fannie Mae. Intended to make home loans more accessible, the agency was born of the Great Depression and a government desperate to revive housing construction. It was a minor detail of the New Deal, barely recorded by the newspapers of the day. Over the next seventy years, Fannie Mae evolved into one of the largest financial companies in the world, owned by private shareholders but with its nearly $1 trillion of debt effectively guaranteed by the government. Almost from the beginning, critics repeatedly warned that Fannie was an accident waiting to happen. Then, in 2008, the housing market collapsed. Amid a wave of foreclosures, the company’s capital began to run out, and the US Treasury seized control. From the New Deal to President Obama’s administration, James R. Hagerty explains this fascinating but little-understood saga. Based on the author’s reporting for the Wall Street Journal, personal research, and interviews with executives, regulators, and congressional leaders, The Fateful History of Fannie Mae, he explains the politics, economics, and human frailties behind seven decades of missed opportunities to prevent a financial disaster. |
| business assets freddie mac: Members of the Federal Home Loan Bank System United States. Federal Home Loan Bank Board, 1984 |
| business assets freddie mac: Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities Lakhbir Hayre, 2001-05-07 Der Markt für hypothekarisch gedeckte und forderungsbesicherte Wertpapiere ist seit 1980 von etwa 1 Milliarde US Dollar auf über 2,5 Billionen US Dollar angestiegen. Der Salomon Smith Barney Guide to Mortgaged-Backed and Asset-Backed Securities trägt dieser Entwicklung Rechnung. Autor Lakhbir Hayre, Mitarbeiter von Salomon Smith Barney, New York, erläutert dieses Thema anhand von unternehmeninternem Material anschaulich, zusammenhängend, praxisnah und umfassend. Dieses Buch ist nicht nur ein nützlicher Leitfaden für die Praxis, sondern auch ein ideales Übungsbuch und Nachschlagewerk für alle Investmentprofis, institutionelle Anleger und Anleger in Pensionsfonds und Hedge Funds. |
| business assets freddie mac: The Secondary Mortgage Market United States. Federal Home Loan Bank Board. Office of Community Investment, 1981 |
| business assets freddie mac: The Financial Crisis of 2008 Barrie A. Wigmore, 2021-11-04 This must-read for those in the financial business shines new light on puzzles and controversies and dispenses with conventional errors. |
| business assets freddie mac: Accounting discretion of banks during a financial crisis Mr.Luc Laeven, Harry Huizinga, 2009-09-01 This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mortgage-backed securities also react favorably to recent changes in accounting rules that relax fair-value accounting, and these banks provision less for bad loans. Furthermore, distressed banks use discretion in the classification of mortgage-backed securities to inflate their books. Our results indicate that banks' balance sheets offer a distorted view of the financial health of the banks. |
| business assets freddie mac: The Mortgage Wars: Inside Fannie Mae, Big-Money Politics, and the Collapse of the American Dream Timothy Howard, 2013-11-29 The former Fannie Mae CFO's inside look at the war between the financial giants and government regulators A provocative true-life thriller about the all-out fight for dominance of the mortgage industry—and how it nearly destroyed the global financial system Many books have been written about the 2008 financial crisis, but they miss the biggest story of the meltdown: the battle between giant financial companies to dominate the $11 trillion mortgage market that almost destroyed the global financial system. For more than twenty years, until 2004, Timothy Howard was a senior executive at the best known of those companies, Fannie Mae, and he was in the middle of that fight. In The Mortgage Wars, Howard explains how seemingly unrelated developments in banking regulation, housing policy, Wall Street financial innovation, and political lobbying all combined to wreak havoc on the American housing market and the world economy. Timothy Howard was Vice Chairman and Chief Financial Officer of Fannie Mae until 2004. Prior to this, he was senior financial economist at Wells Fargo Bank in San Francisco. |
| business assets freddie mac: Hidden in Plain Sight Peter J. Wallison, 2016-03-29 The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains. |
| business assets freddie mac: Government-sponsored Enterprises United States. General Accounting Office, 1990 |
| business assets freddie mac: Asset Securitisation and Synthetic Structures Rick Watson, Jeremy Carter, 2006 Gain an in-depth analysis, expert opinion and practical advice from the experts in the European credit markets. |
| business assets freddie mac: Engineering Software as a Service Armando Fox, David A. Patterson, 2016 (NOTE: this Beta Edition may contain errors. See http://saasbook.info for details.) A one-semester college course in software engineering focusing on cloud computing, software as a service (SaaS), and Agile development using Extreme Programming (XP). This book is neither a step-by-step tutorial nor a reference book. Instead, our goal is to bring a diverse set of software engineering topics together into a single narrative, help readers understand the most important ideas through concrete examples and a learn-by-doing approach, and teach readers enough about each topic to get them started in the field. Courseware for doing the work in the book is available as a virtual machine image that can be downloaded or deployed in the cloud. A free MOOC (massively open online course) at saas-class.org follows the book's content and adds programming assignments and quizzes. See http://saasbook.info for details.(NOTE: this Beta Edition may contain errors. See http://saasbook.info for details.) A one-semester college course in software engineering focusing on cloud computing, software as a service (SaaS), and Agile development using Extreme Programming (XP). This book is neither a step-by-step tutorial nor a reference book. Instead, our goal is to bring a diverse set of software engineering topics together into a single narrative, help readers understand the most important ideas through concrete examples and a learn-by-doing approach, and teach readers enough about each topic to get them started in the field. Courseware for doing the work in the book is available as a virtual machine image that can be downloaded or deployed in the cloud. A free MOOC (massively open online course) at saas-class.org follows the book's content and adds programming assignments and quizzes. See http://saasbook.info for details. |
| business assets freddie mac: Mortgagee Review Board United States. Department of Housing and Urban Development, 1992 |
| business assets freddie mac: Shaky Ground Bethany McLean, 2015 In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role that Fannie Mae and Freddie Mac play in their mortgages. Given the $188 billion government bailout of the two firms the most expensive bailout in history the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. Best-selling investigative journalist Bethany McLean, the coauthor of The Smartest Guys in the Room andAll the Devils Are Here, explains why the situation is dangerous and unsustainable, and proposes a few solutions from the perfect, but politically unfeasible to the doable, but ugly. |
| business assets freddie mac: The Housing Boom and Bust Thomas Sowell, 2009-05-12 Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The creative financing of home mortgages and creative marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed. |
| business assets freddie mac: Report of the Federal Home Loan Mortgage Corporation Federal Home Loan Mortgage Corporation, 1996 |
| business assets freddie mac: Freddie Mac's accounting restatement United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection, 2004 |
| business assets freddie mac: Freddie Mac Reports , 1987 |
| business assets freddie mac: Farmer's Tax Guide , 1998 |
| business assets freddie mac: Evidence and Innovation in Housing Law and Policy Lee Anne Fennell, Benjamin J. Keys, 2017-08-29 This interdisciplinary volume illuminates housing's impact on both wealth and community, and examines legal and policy responses to current challenges. Also available as Open Access. |
| business assets freddie mac: Audit and Accounting Guide Depository and Lending Institutions AICPA, 2019-11-20 The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. |
| business assets freddie mac: Securitization of Financial Assets Kravitt, 2012-12-18 |
| business assets freddie mac: Fannie Mae and Freddie Mac Oonagh McDonald, 2013-07-18 The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership. |
| business assets freddie mac: The Budget of the United States Government United States. Office of Management and Budget, 2015 |
| business assets freddie mac: FHA Single Family Housing Policy Handbook Brian Greul, 2021-06-18 The Doing Business with FHA section in this FHA Single Family Housing Policy Handbook (SF Handbook) covers Federal Housing Administration (FHA) approval and eligibility requirements for both Title I lenders and Title II Mortgagees, as well as other FHA program participants. The term Mortgagee is used throughout for all types of FHA approval (both Title II Mortgagees and Title I lenders) and the term Mortgage is used for all products (both Title II Mortgages and Title I loans), unless otherwise specified. |
| business assets freddie mac: Commercial Real Estate's Impact on Bank Stability United States. Congressional Oversight Panel, 2011 |
| business assets freddie mac: The Budget of the United States Government United States, United States. Office of Management and Budget, 1996 |
| business assets freddie mac: Cityscape , 1995 |
| business assets freddie mac: Administration of Insured Home Mortgages United States. Department of Housing and Urban Development, 1994 |
| business assets freddie mac: Budget of the U.S. Government, Appendix , 2013-04-10 Presents detailed information on individual programs and appropriation accounts that constitute the budget. Includes for each Government department and agency the text of proposed appropriations language, budget schedules for each account, new legislative proposals, and explanations of the work to be performed and the funds needed, and proposed general provisions applicable to the appropriations of entire agencies or groups of agencies. |
| business assets freddie mac: Budget of the United States Government United States. Office of Management and Budget, 2000 |
| business assets freddie mac: Fiscal Year 2013 Appendix, Budget of the U.S. Government , Presents detailed information on individual programs and appropriation accounts that constitute the budget. Includes for each Government department and agency the text of proposed appropriations language, budget schedules for each account, new legislative proposals, and explanations of the work to be performed and the funds needed, and proposed general provisions applicable to the appropriations of entire agencies or groups of agencies. NOTE: NO FURTHER DISCOUNTS FOR ALREADY REDUCED SALE ITEMS. |
| business assets freddie mac: The Global Asset Backed Securities Market Charles A. Stone, Anne Zissu, Jess Lederman, 1993 |
| business assets freddie mac: Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information MissLiliana Schumacher, Mr.Theodore M. Barnhill, 2011-11-01 This paper proposes and demonstrates a methodology for modeling correlated systemic solvency and liquidity risks for a banking system. Using a forward looking simulation of many risk factors applied to detailed balance sheets for a 10 bank stylized United States banking system, we analyze correlated market and credit risk and estimate the probability that multiple banks will fail or experience liquidity runs simultaneously. Significant systemic risk factors are shown to include financial and economic environment regime shifts to stressful conditions, poor initial loan credit quality, loan portfolio sector and regional concentrations, bank creditors' sensitivity to and uncertainties regarding solvency risk, and inadequate capital. Systemic banking system solvency risk is driven by the correlated defaults of many borrowers, other market risks, and inter-bank defaults. Liquidity runs are modeled as a response to elevated solvency risk and uncertainties and are shown to increase correlated bank failures. Potential bank funding outflows and contractions in lending with significant real economic impacts are estimated. Increases in equity capital levels needed to reduce bank solvency and liquidity risk levels to a target confidence level are also estimated to range from 3 percent to 20 percent of assets. For a future environment that replicates the 1987-2006 volatilities and correlations, we find only a small risk of U.S. bank failures focused on thinly capitalized and regionally concentrated smaller banks. For the 2007-2010 financial environment calibration we find substantially elevated solvency and liquidity risks for all banks and the banking system. |
BUSINESS | English meaning - Cambridge Dictionary
BUSINESS definition: 1. the activity of buying and selling goods and services: 2. a particular company that buys and….
VENTURE | English meaning - Cambridge Dictionary
VENTURE definition: 1. a new activity, usually in business, that involves risk or uncertainty: 2. to risk going….
ENTERPRISE | English meaning - Cambridge Dictionary
ENTERPRISE definition: 1. an organization, especially a business, or a difficult and important plan, especially one that….
INCUMBENT | English meaning - Cambridge Dictionary
INCUMBENT definition: 1. officially having the named position: 2. to be necessary for someone: 3. the person who has or….
AD HOC | English meaning - Cambridge Dictionary
AD HOC definition: 1. made or happening only for a particular purpose or need, not planned before it happens: 2. made….
LEVERAGE | English meaning - Cambridge Dictionary
LEVERAGE definition: 1. the action or advantage of using a lever: 2. power to influence people and get the results you….
ENTREPRENEUR | English meaning - Cambridge Dictionary
ENTREPRENEUR definition: 1. someone who starts their own business, especially when this involves seeing a new opportunity….
CULTIVATE | English meaning - Cambridge Dictionary
CULTIVATE definition: 1. to prepare land and grow crops on it, or to grow a particular crop: 2. to try to develop and….
EQUITY | English meaning - Cambridge Dictionary
EQUITY definition: 1. the value of a company, divided into many equal parts owned by the shareholders, or one of the….
LIAISE | English meaning - Cambridge Dictionary
LIAISE definition: 1. to speak to people in other organizations, etc. in order to work with them or exchange….
BUSINESS | English meaning - Cambridge Dictionary
BUSINESS definition: 1. the activity of buying and selling goods and services: 2. a particular company that buys and….
VENTURE | English meaning - Cambridge Dictionary
VENTURE definition: 1. a new activity, usually in business, that involves risk or uncertainty: 2. to risk going….
ENTERPRISE | English meaning - Cambridge Dictionary
ENTERPRISE definition: 1. an organization, especially a business, or a difficult and important plan, especially one that….
INCUMBENT | English meaning - Cambridge Dictionary
INCUMBENT definition: 1. officially having the named position: 2. to be necessary for someone: 3. the person who has or….
AD HOC | English meaning - Cambridge Dictionary
AD HOC definition: 1. made or happening only for a particular purpose or need, not planned before it happens: 2. made….
LEVERAGE | English meaning - Cambridge Dictionary
LEVERAGE definition: 1. the action or advantage of using a lever: 2. power to influence people and get the results you….
ENTREPRENEUR | English meaning - Cambridge Dictionary
ENTREPRENEUR definition: 1. someone who starts their own business, especially when this involves seeing a new opportunity….
CULTIVATE | English meaning - Cambridge Dictionary
CULTIVATE definition: 1. to prepare land and grow crops on it, or to grow a particular crop: 2. to try to develop and….
EQUITY | English meaning - Cambridge Dictionary
EQUITY definition: 1. the value of a company, divided into many equal parts owned by the shareholders, or one of the….
LIAISE | English meaning - Cambridge Dictionary
LIAISE definition: 1. to speak to people in other organizations, etc. in order to work with them or exchange….
