Thursday, April 28, 2005

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.

9 Comments:

At 7:44 AM, Anonymous Anonymous said...

The dumb hedge funds are buying the mountain of securities...

 
At 8:13 AM, Blogger Ben Jones said...

That could be. I would love to have the details.

 
At 8:14 AM, Anonymous mediawatch said...

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.

 
At 8:42 AM, Blogger Mousebender said...

To clarify, this is a 1.2% drop from February to March, which would be extrapolated to a compounted annual rate of 13.6%. Still, the portfolio has decreased 5.3% since peaking in October 2004.

Monthly Summary for March 2005 (PDF)

 
At 10:08 AM, Blogger John Law said...

I bet pension funds are in there buying. maybe even central banks.

 
At 10:27 AM, Anonymous Anonymous said...

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!

 
At 11:36 AM, Blogger John Law said...

the Alaska Perm. Fund has 31% of it's bond portfolio in MBS

http://www.apfc.org/investments/BondPortfolio.cfm

 
At 12:24 PM, Anonymous Anonymous said...

Ben the housingbubble.com link doesnt work....

 
At 5:32 PM, Anonymous Anonymous said...

Try this link:

http://www.housingbubble.com

 

Post a Comment

<< Home