Fannie Mae Continues Liquidating Portfolio
Fannie Mae continued to scale down it's mortgage holdings in March in a multi-month effort to slim down. "Fannie Mae, the No. 1 U.S. home funding company, on Thursday said that its mortgage investment portfolio fell 13.6 percent in March after dropping 19.1 percent in February."
Just who is buying the mountain of securities hasn't been mentioned.
6 Comments:
The dumb hedge funds are buying the mountain of securities...
That could be. I would love to have the details.
Here in SF Bay Area, radio is still wall-to-wall mortgage ads ("bad credit, no problem").
But in what may be a turning of the tide, I just saw my first TV ad for "foreclosure help"---a company that claims it will buy your house before it gets foreclosed.
My guess is that this company is still a tad early, but I guarantee the airwaves will be full of these ads over the next few years.
Mediawatch, don't you just love that commercial on KCBS of the guy talking about how loans "are weapons that can be offensive and defensive".
Now we can all ARM ourselves with these financial WMDs!
Ben the housingbubble.com link doesnt work....
Try this link:
http://www.housingbubble.com
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