Stimulus Bill

The New York Times has a list of the major provisions in the most recent stimulus bill expected to be passed by the House and Senate on Friday. Here are a few key items: Income Tax credit of $400 for individuals / $800 married couples. Phases out on income over $75,000 for individuals / $150,000 […]

Fannie & Freddie increase mortgage liquidity

The announcement today from the Office of Federal Housing Enterprise Oversight (OFHEO) is welcomed news to the mortgage bond market. This effectively produces a $200 billion increase in demand for agency mortgage paper. For Immediate Release March 19, 2008 OFHEO, FANNIE MAE AND FREDDIE MAC ANNOUNCE INITIATIVE TO INCREASE MORTGAGE MARKET LIQUIDITY Washington, DC – […]

417k to remain

The FHA has announced a conventional loan in 2008 will remain under $417,000 – same as it was in 2006 and 2007.

New York Times on MBS/CDO

The New York Times has a great, simple graphic which explains the MBS/CDO process. If you want to fully understand the securitization process, this is required reading. The only missing piece is how the agencies such as Ginnie, Fannie, and Freddie back MBS. It appears to be left out in order to focus on the […]