Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02
Investments

Are accounting tricks driving GSE profits?

Bank analyst and industry expert Christopher Whalen is stirring the pot over at Zero Hedge, wondering aloud if the recent outsized profits at Fannie Mae and Freddie Mac are really what they appear to be:

After years, no, really decades of obfuscation and outright mendacity, are the folks at Fannie Mae and Freddie Mac really telling us the truth now about their financial condition?  Washington is a city of lies, let us remember, with a good part of the population paid to disseminate falsities as part of their job description.  But the biggest lie of all was allowing the GSEs to avoid marking their impaired assets down to fair value as commercial banks are required to do.  Had this been done, the losses reported by the enterprises would have been far larger.

 

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please