Fanny & Freddy

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Op dinsdag 12 mei 2009 21:35 schreef digitaLL het volgende:
De kapitaalvernietiging gaat met behulp van bailout money in een hogere versnelling. Bijna afgebouwde of afgebouwde moeilijk verkoopbare nieuwe woningen worden vernietigd.

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Redding huizenmarkt: VS gaat all-out, maar hoe lang financiert het buitenland dit nog?

Obama heeft het gehad: Amerikanen moeten kosten wat kost in hun huis blijven. Maar de maatregel om de garantie aan Fannie Mae en Freddie Mac op te trekken van 400 mld dollar naar "ongelimiteerd", is niet zonder risico, analyseert beurscommentator Hans de Geus.

Analyse Hans de Geus, RTLZ


Fannie en Freddie
Samen garanderen deze door de overheid geëntameerde instellingen de helft van de totale Amerikaanse hypotheekmarkt. Dat hebben we gemerkt: de overheid heeft al meer dan 100 miljard dollar aan steun moeten geven, omdat steeds meer gezinnen de hypotheekrente niet meer kunnen of willen ophoesten. En het aantal wanbetalers neemt maar toe...


Garantie door overheid
In hoeverre de staat garant staat voor Fannie en Freddie is lange tijd een beetje in het midden gelaten. De markt ging er wél vanuit, waardoor beide instellingen tegen zeer lage rente obligaties konden uitgeven. Effectief heeft de regering deze impliciete garantie nu expliciet gemaakt. Het bedrag waarvoor de overheid de schulden van de twee garandeert is opgetrokken van 400 miljard dollar tot oneindig!

Blanco Cheque
Dat nieuws is een beetje aan de aandacht ontsnapt, maar het betekent nogal wat. Het zou namenlijk een voorbode kunnen zijn voor een geheel nieuwe categorie drastische maatregelen om de Amerikanen in godsnaam maar in hun huis te houden, zoals het afstempelen van de hoofdsom: veel huizen zijn minder waard dan hun hypotheek, en dat geeft nogal een prikkel om de boel maar achter te laten en stilletjes een tijdje in een trailer te gaan wonen, de bank met de schuld achterlatend.

Het aanpassen van de hoofdsom, da's een dure grap. Zo duur dat er wel eens een hoop geld bij zou moeten bij Fannie en Freddie, voilà een toepassing van de ongelimiteerde garantie.

Betekenis
Kortom, de ophoging van de garantie is niet zonder betekenis, en kan onvoorstelbare gevolgen hebben: de ene helft van Amerika wordt gered door de andere helft, die daar helemaal het geld niet voor heeft. Dat alles loopt via de overheid, die het tekort maar weer verder laat oplopen.

Of buitenlandse financiers maar willen intekenen op de stortvloed aan Treasuries die híer weer voor uitgegeven moeten worden... Houd mededelingen van Fitch, Moody's en S&P de komende tijd maar goed in de gaten. Niet alleen meer vanwege Griekenland...

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Fannie Taps Treasury for $15.3 Billion More After a 10th Loss

By Dawn Kopecki

Feb. 27 (Bloomberg) -- Fannie Mae will seek $15.3 billion in U.S. aid, bringing the total owed under a government lifeline to $76.2 billion, after its 10th consecutive quarterly loss.

The mortgage-finance company posted a fourth-quarter net loss of $16.3 billion, or $2.87 a share, Washington-based Fannie Mae said in a filing yesterday with the Securities and Exchange Commission.

Fannie Mae, which owns or guarantees about 28 percent of the $11.8 trillion U.S. home-loan market, has been hobbled by a three-year housing slump that wiped 28 percent from home values nationwide and led to record foreclosures. The company, which posted $120.5 billion in losses over the previous nine quarters, and rival Freddie Mac were seized by regulators in September 2008.

“Our financial results for 2009 reflected the continued adverse impact of the weak economy and housing market, which has resulted in record mortgage delinquencies and contributed to our recording significant credit-related expenses and net losses during each quarter of the year,” Fannie Mae said in the filing.

For the full year, Fannie Mae’s loss widened to $74.4 billion from $59.8 billion in 2008.

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"Just looking at the numbers, we would expect there to be a bigger percentage of properties" repossessed by banks by now, he said.

This "shadow market" reflects the increasing lag between defaults and foreclosures. Many lenders are struggling to keep up with the overwhelming number of borrowers who can't make their payments, and they're reluctant to rush repossessed homes onto the market when prices are depressed.

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Op maandag 15 maart 2010 22:07 schreef Digi2 het volgende:
[ afbeelding ]
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Het directe gevolg van "mark to myth" boekhouden. Indien de banken daadwerkelijk tot verkoop over zouden gaan moeten ze die verliezen afboeken op de balans. Nu blijven ze tegen veel te hoge prijzen in de boeken staan.

Bron

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Op maandag 15 maart 2010 23:14 schreef sitting_elfling het volgende:

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Ik verbaas me er enigszins over dat het plaatje zo lineair is?

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Fannie Mae Seeks $8.4 Billion in New Aid After Loss

By Lorraine Woellert

May 10 (Bloomberg) -- Fannie Mae, the mortgage-finance company operating under federal conservatorship, said it will seek $8.4 billion in aid from the U.S. Treasury Department after reporting an 11th-straight quarterly loss.

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Fannie, Freddie aid cost unclear: regulator

(Reuters) - It is unclear how much U.S. taxpayers will eventually have to shell out to help mortgage finance giants Fannie Mae and Freddie Mac, the regulator of the two companies said on Tuesday.

Housing Market

"The actual cost I do not know," Federal Housing Finance Agency Acting Director Edward DeMarco said in response to a question from Kentucky Republican Senator Jim Bunning at a Senate Finance Committee hearing.

Fannie Mae said on Monday it would need an additional $8.4 billion from the U.S. Treasury. The two firms have now tapped about $145 billion from the government and the Obama administration has said it will backstop losses, no matter how high they go, through 2012.

As a result, some Republican lawmakers are pushing for Fannie Mae and Freddie Mac to be included among firms subject to a tax aimed at financial institutions that received government money during the financial crisis.

Congress approved $700 billion in late 2008 for the Troubled Asset Relief Program (TARP), often referred to as the bank bailout.

Many financial institutions have repaid their TARP commitments, and losses from TARP are now estimated to be around $90 billion. The proposed fee is designed to get that money back.

While Fannie Mae and Freddie Mac did not receive TARP funds, then Treasury Secretary Henry Paulson took control of the two firms in late 2008 as losses from risky mortgages mounted.

Under the terms of the government "conservatorship," the firms have access to a separate, unlimited credit line from Treasury to backstop their losses.

DeMarco pointed out that any tax paid to the Treasury from Fannie and Freddie would ultimately come from the Treasury itself.

"To assess a particular fee at this time to Fannie and Freddie would not accomplish anything in terms of increasing revenue to the government," DeMarco told the lawmakers.

David John, a senior research fellow at the conservative Heritage Foundation in Washington, said he would like "nothing more" than to privatize Fannie Mae and Freddie Mac and shrink them as much possible.

But imposing a tax on them does not make sense because "it would make little sense to tax what is effectively another arm of the government," John told the panel, echoing DeMarco's remarks.

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Op woensdag 12 mei 2010 23:35 schreef Idler het volgende:
Bijna de gehele huizenmarkt is daar inderdaad in handen van de staat. Stelletje commies!

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Op woensdag 12 mei 2010 23:50 schreef piepeloi55 het volgende:

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Het samengaan van privaat en overheid in deze vorm is fascisme, althans volgens de uberfascist mussolini.

`dat de natie boven het individu stelt, met als uitvloeisel een in zo'n systeem legitiem gebruik van geweld, moderne propagandatechnieken en censuur om politieke tegenstand de kop in te drukken en daarmee het bestaan van het systeem te waarborgen. Vaak worden in een dergelijk systeem de economie en de sociale maatschappij verregaand van bovenaf gecontroleerd en gereglementeerd, waarbij nationalisme wordt omhelsd.`

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Verkoop nieuwe huizen VS stijgt sterker dan verwacht

AMSTERDAM (Dow Jones)--De verkoop van nieuwe eengezinswoningen in de Verenigde Staten is in april harder gestegen dan verwacht, blijkt woensdag uit cijfers van het Amerikaanse ministerie van handel.

Het aantal verkochte nieuwe woningen in april kwam uit op 504.000, een stijging van 14,8% op maandbasis. Economen rekenden vooraf op 425.000 verkochte huizen.

Het aantal verkochte nieuwe woningen in maart werd opwaarts bijgesteld naar 439.000 van 411.000 eerder.

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Price of single-family homes drops for sixth straight month

By Renae Merle
Washington Post Staff Writer
Wednesday, May 26, 2010

Home prices remained weak through the early months of this year, according to a closely watched housing index released Tuesday, an indication that the housing market continues to struggle despite recent improvements.

The Standard & Poor's/Case-Shiller home price index showed that prices of single-family homes were down 0.5 percent between February and March, the sixth consecutive month-over-month decline. On a seasonally adjusted basis, prices were flat, according to the index.

Prices in 13 of the 20 cities tracked by the index fell in March, including the Washington region, where prices were down 0.7 percent. Detroit and Minneapolis saw the largest price declines, 4.1 percent and 2.7 percent, respectively.

The housing market is in a tentative recovery. Sales of previously owned homes jumped nearly 8 percent in April compared with the previous month, for example. And there was some positive news in the Case-Shiller data: Prices were up about 2.3 percent compared with the same period last year.

"The housing market may be in better shape than this time last year; but when you look at recent trends, there are signs of some renewed weakening in home prices," David M. Blitzer, chairman of the Index Committee at Standard & Poor's, said in statement.

The recent weakness in prices is disappointing given record-low mortgage rates and a home buyer tax credit that helped boost sales through the first few months of this year, analysts said. The tax credit expired last month, and home sales are expected to decline in its absence.

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U.S. Home Foreclosures Climb 44% to Record in May

By Dan Levy

June 10 (Bloomberg) -- U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.

Bank repossessions climbed 44 percent from May 2009 to 93,777, the Irvine, California-based data company said today in a statement. Foreclosure filings, including default and auction notices, rose about 1 percent to 322,920. One out of every 400 U.S. households received a filing.

“We’re nowhere near out of the woods,” Rick Sharga, RealtyTrac’s senior vice president for marketing, said in a telephone interview. “We’re likely to set a quarterly record for home seizures if June is anything like May.”

Lenders are completing the “inevitable progression” of taking properties from homeowners who stopped paying, Sharga said. He predicted last month that another 5 million delinquent mortgages will end in foreclosure in addition to properties that had already been repossessed.

Almost 3.1 million properties have been seized by banks since April 2005, Daren Blomquist, RealtyTrac’s marketing communications manager, said in an interview today.

“The second quarter won’t be the peak,” Sharga said. “I’m not even sure 2010 will be.”

The previous record for seizures was 92,432 in April. Last month was the first in which every state had an increase in repossessions from a year earlier, according to RealtyTrac.


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Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

By Lorraine Woellert and John Gittelsohn

June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts.

“It is the mother of all bailouts,” said Edward Pinto, a former chief credit officer at Fannie Mae, who is now a consultant to the mortgage-finance industry.

Fannie, based in Washington, and Freddie in McLean, Virginia, own or guarantee 53 percent of the nation’s $10.7 trillion in residential mortgages, according to a June 10 Federal Reserve report. Millions of bad loans issued during the housing bubble remain on their books, and delinquencies continue to rise. How deep in the hole Fannie and Freddie go depends on unemployment, interest rates and other drivers of home prices, according to the companies and economists who study them.

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Op woensdag 11 maart 2009 23:49 schreef digitaLL het volgende:
De verwachting is dan ook dat strax meer dan 80% van de hypotheken feitelijk door de overheid verstrekt dan wel gegarandeerd worden.
Om het centraal te houden plaats ik hier de berichten over Fanny en Freddy.
Ik verwacht dat er uiteindelijk meer dan $1000 miljard ingepompd gaat worden.

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Fannie Mae, Freddie Mac to delist shares from NYSE
Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist shares

NEW YORK (AP) -- Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist their shares from the New York Stock Exchange.

The companies' regulator, the Federal Housing Finance Agency, said Wednesday that it expects Fannie Mae and Freddie Mac shares to trade on the Over-the-Counter Bulletin Board, an electronic quotation service.

The move to delist the shares isn't a surprise. The crash in the housing market has pounded Fannie Mae and Freddie Mac with heavy loan losses since 2007. Fannie shares have been below the $1 average price level for 30 trading days. NYSE rules require a company to take action to boost its shares or delist.

The government took over the pair in September 2008 under the authority of a law passed by Congress. So far, taxpayers have poured $145 billion into Fannie and Freddie to keep them afloat and to buoy the overall housing market.

Fannie Mae, Freddie Mac, the FHA and the Veterans Administration backed nearly 97 percent of home mortgages in the first quarter of this year, according to trade publication Inside Mortgage Finance.

Fannie and Freddie were created by Congress to buy mortgages from lenders and package them into bonds that are resold to investors. Together they own or guarantee almost 31 million home loans worth about $5.5 trillion. That's about half of all mortgages.

During the housing boom, the two loosened their lending standards for borrowers and are reeling from the housing bubble bust.

Fannie Mae shares closed Tuesday at 92 cents, while Freddie Mac shares closed at $1.22.

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Kredietwaardigheid hypotheekbanken VS lager

Laatste update: 8 augustus 2011 17:09 info
NEW YORK - Kredietbeoordelaar S&P heeft de kredietwaardigheid van de grote Amerikaanse hypotheekbanken Fannie Mae en Freddie Mac maandag verlaagd.

De afwaardering was een gevolg van de verlaging van de Amerikaanse kredietwaardigheid die S&P dit weekend bekend heeft gemaakt.

Fannie en Freddie, zoals de banken in de volksmond worden genoemd, verloren net als de overheid hun AAA-rating.

''De verlagingen reflecteren hun directe afhankelijkheid van de Amerikaanse overheid'', aldus S&P.