The rescue and repair of Fannie Mae and Freddie Mac / editor, John C. Alkane.

Format:

Book

Contributor:

Alkane, John C.

Series:

Financial institutions and services.

Financial Institutions and Services

Language:

English

Subjects (All):

Federal National Mortgage Association.

Federal Home Loan Mortgage Corporation.

Secondary mortgage market--United States.

Secondary mortgage market.

Mortgage loans--Government policy--United States.

Mortgage loans.

Housing--Finance--Government policy--United States.

Housing.

Physical Description:

1 online resource (144 p.)

Place of Publication:

New York : Nova Science Publishers, Inc., 2010.

Summary:

In the midst of the most serious financial crisis in a generation, some claim that deregulation is entirely to blame. This is simply not true, and more importantly serves to grossly oversimplify a problem whose roots run deep and involve myriad actors and issues. The simple truth is that many share the blame, and pointing to just one person or organisation does a disservice to the American people. In a time of crisis, the American people cannot afford the same old partisan finger pointing; they need and deserve real, non-partisan oversight. We need to focus on the root causes and how we can fix the system in order to avoid financial meltdowns in the future. This book explores the causes of the financial crisis we are in and how various agencies contributed to this crisis.

Contents:

THE RESCUE AND REPAIR OF FANNIE MAE AND FREDDIE MAC ; THE RESCUE AND REPAIR OF FANNIE MAE AND FREDDIE MAC ; CONTENTS ; PREFACE ; Chapter 1 FINANCIAL INSTITUTION INSOLVENCY: FEDERAL AUTHORITY OVER FANNIE MAE, FREDDIE MAC, AND DEPOSITORY INSTITUTIONS ; Summary; Overview of the U.S. Credit Crunch and Its Effect on Fannie, Freddie, Banks, and Thrifts; Introduction; Background on Fannie Mae and Freddie Mac; FDIC and Insolvent Banks and Thrifts; Background; Appointment of a Conservator or Receiver over Banks and Thrifts; Generally

Grounds for Appointing the FDIC as Conservator or Receiver over Banks and ThriftsFDIC's Conservatorship or Receivership Powers; Overview; FDIC's Rulemaking Powers of Conservatorships or Receiverships; FDIC's General and Incidental Powers as Conservator or Receiver; FDIC's Explicit Powers as Conservator or Receiver; Statutes of Limitations Available to Conservatorships or Receiverships of Banks or Thrifts; FDIC's Additional Conservatorship Powers; FDIC's Additional Receivership Powers; FDIC's Options for Resolving Bank and Thrift Insolvencies; Least-Cost Resolution Requirement

Cross-Guaranty and Holding Company Contribution RequirementsDeposit Payoff; Open Institution Assistance; Purchase and Assumptions (P&As); FDIC's Claims Process as Receiver; Overview; Payment of Claims and Priority of Claimants; Overview; Priorities; Agreements Against the Interests of the FDIC; Fannie Mae and Freddie Mac; Before P.L. 110-289: OFHEO's Powers as Conservator; New Powers Granted by P.L. 110-289 to Deal with a Failing Fannie or Freddie; Overview; Notable Differences between the FDIC's Authority and that of the FHFA; Grounds for Appointing the FHFA as Conservator or Receiver

FHFA Conservatorship or Receivership PowersOverview; FHFA's Rulemaking Powers as Conservator or Receiver; FHFA's General and Incidental Powers; FHFA's Explicit Powers as Conservator or Receiver; Statutes of Limitations Available to the FHFA as Conservator or Receiver; FHFA's Additional Conservatorship Powers; FHFA's Additional Receivership Powers; FHFA's Options for Resolving Insolvencies and the Inapplicability of the Least-Cost Requirement; Claims Process; Overview; Payment of Claims; FHFA Priority; Agreements against the Interests of the FHFA; End Notes

Chapter 2 FANNIE MAE AND FREDDIE MAC: PROPOSALS TO REGULATE THEIR MORTGAGE PORTFOLIO SIZE IN THE 110TH CONGRESS Summary; Background; Current Restrictions on Fannie Mae and Freddie Mac Portfolios; GSE Risks; Credit Risk; Prepayment Risk; Interest Rate Risk; Analysis; Increasing GSE Mortgage Portfolios; Benefits; Costs; Increasing the Conforming Loan Limit; Benefits; Costs; End Notes; Chapter 3 FANNIE MAE AND FREDDIE MAC: A LEGAL AND POLICY OVERVIEW ; Summary; Introduction; Operations; Historical Development; GSE Privileges; Regulation; Other Current Issues and Recent Developments

Affordable Housing Mission

Notes:

Includes index.

Description based on print version record.

ISBN:

1-61728-246-4