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GSEs: the earnings engine
I’ve been carefully reading OFHEO’s excoriating report on the Fannie Mae scandal, and will be posting on it shortly — but before doing so, I need to set the intellectual and financial stage. All the...
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GSEs: balance-sheet turbocharging
[Third of three parts laying the groundwork for dissecting and interpreting the OFHEO’s damning report on the Fannie Mae scandal. Part 1 covers primary and secondary mortgage market; Part 2 the GSE...
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Finance type: the House of the Three Mortgages
“Holmes,” said Watson, turning a five-pound note between his fingers, “I’ve been thinking back to our visit to your brother Mycroft and that extraordinary bank — I should say, investment bank — of...
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The difference between property and assets
Pay your loans or I’ll foreclose, threatens the lender, believing that to be an effective threat. Or is it? As illustrated a The New York Times article from a couple of months, there’s a huge...
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A glut by any other name
By: David A. Smith … is affordability? Am I up when you’re down? When the homeownership rate drops, what happens to apartment occupancy? As illustrated by this Wall Street Journal article, the...
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