Fannie Mae's and Freddie Mac's Financial Problems : frequently asked questions / N. Eric Weiss.

Format:

Book

Author/Creator:

Weiss, N. Eric, author.

Series:

CRS report for Congress.

CRS report for Congress

Language:

English

Subjects (All):

Mortgages--United States.

Mortgages.

Physical Description:

1 online resource (6 pages).

Place of Publication:

Washington, District of Columbia : Congressional Research Service, Library of Congress, 2008.

Summary:

Recent turmoil in the housing and financial markets have caused concern over the future of Fannie Mae and Freddie Mac, which are chartered by Congress as government-sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Treasury Secretary Henry M. Paulsen, Jr., has proposed legislation to increase the two GSEs' line of credit with Treasury from its current $2.25 billion each to an unspecified higher amount to allow Treasury to purchase stock from Fannie and Freddie. The Federal Reserve has taken actions to allow Fannie and Freddie to borrow directly from the Fed. The Office of Federal Housing Enterprise Oversight (OFHEO) -- the GSEs safety and soundness regulator -- has repeated assurances that Fannie and Freddie have adequate capital, but as highly leveraged financial intermediaries Fannie Mae and Freddie Mac have limited resources against losses.

Notes:

Description based on publisher supplied metadata and other sources.