TITLE

OHFEO Freezes Fannie Mae Mortgage Portfolio Assets

AUTHOR(S)
Hume, Lynn
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/24/2006, Vol. 356 Issue 32389, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Office of Federal Housing Enterprise Oversight (OHFEO) has freezed Fannie Mae mortgage portfolio assets. Under a consent agreement with OHFEO, Fannie Mae's "mortgage portfolio" assets, which include state and local housing bonds, would remain frozen at roughly the $727 billion level. The freeze on its mortgage portfolio assets at $727 billion could hurt the state and local housing bond market because Fannie Mae is a big buyer of tax-exempt housing bonds. At its peak, Fannie Mae bought 20% to 30% of all tax-exempt bonds issued in the market and a majority of new long-term fixed-rate housing bonds.
ACCESSION #
21024741

 

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