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Fed Expands Collateral for TALF

The Fed expanded the securities it will accept for its short-term lending program just hours before the revamped plan was set to begin.

The program is designed to free up capital for lending by purchasing securities backed by high-quality assets from financial institutions. The Fed plans to spend about $1 trillion in the program.

 

In a release on Thursday, the Fed said it will accept securities backed by mortgage servicing advances, securities-backed loans or leases relating to business equipment, and securities backed by floorplan loans.

"The additional new asset-backed securities categories complement the consumer and small business loan categories that were already eligible," the Fed said in a press release.

By Adam Button and edited by Sarah Sussman
©CEP News Ltd. 2009

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Mortgage Rates:
  • 30 Yr FRM 3.90%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 4.15%
MBS Prices:
  • 30YR FNMA 4.5 106-18 (-0-02)
  • |
  • 30YR FNMA 5.0 107-32 (-0-01)
  • |
  • 30YR FNMA 5.5 108-31 (0-01)
Recent Housing Data:
  • Mortgage Apps -1.01%
  • |
  • Refinance Index 0.83%
  • |
  • NAHB Builder Confidence 16.00%

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Gary Powell  |  Contact or Connect with this Member
on
That smells like a bail out for GE. Isn't a large part of their finance division involved in "leases relating to business equipment, and securities backed by floorplan loans."
 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.90%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 4.15%
MBS Prices:
  • 30YR FNMA 4.5 106-18 (-0-02)
  • |
  • 30YR FNMA 5.0 107-31 (-0-02)
  • |
  • 30YR FNMA 5.5 108-31 (0-01)
Recent Housing Data:
  • Mortgage Apps -1.01%
  • |
  • Refinance Index 0.83%
  • |
  • NAHB Builder Confidence 16.00%
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