Nov25
FEDERAL RESERVE $800 BILLION MORTGAGE PROGRAM
Starting next week the Federal Reserve will buy over $100 Billion in bad dept from Fannie Mae and Freddie Mac including the 12 Federal Home Loan Banks in an aggressive bidding process through the central bank's primary securities brokers. Federal Reserve will also contract asset administrators to buy over $500 billion in mortgage-backed securities issued by Freddie Mac, Fannie Mae, and Ginnie Mae. Unlike Freddie Mac, Fannie Mae, Ginnie Mae has always been under ent control They haven't written all the terms of the program but plan to stat buying before years end.
Let's Hope for the best. I could use an extra 500 Billion.
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