Schumer Bill Would Lift GSE Portfolio Caps

RE:Schumer Bill Would Lift GSE Portfolio Caps

Martin — Mon, 21 Jan 2008 13:00:00 GMT

It is crucial that Fannie and Freddie Mac's caps are raised immediately. We are having a credit crunch that is becoming a worldwide Recession. Yes Greenspan blew it big time and history will deal with him appropriately. But now we have a credit crisis in the mortgage and bond markets and banks do not trust each other to lend. That is what Fannie and Freddie can alleviate. As an American taxpayer it is time to do this and instill some leadership for the domestic and international community. Time to step up Bush....and stop the delay or the Republican's are toast in November 2008!

RE:Schumer Bill Would Lift GSE Portfolio Caps

TrueRates — Thu, 13 Sep 2007 11:00:00 GMT

Raising portfolio caps and/or allowwing the GSEs to purchase jumbos won't cure what is ailing the economy. We are overdue for a painful correction in housing prices, which have been artificially inflated over the past ten years due to very low interest rates that created a seller's market. This correction is going to weed out a lot of chaff in the real estate and mortgage industries and will drop tens of thousands, if not millions, of house prices below the $417,000 mark.

RE:Schumer Bill Would Lift GSE Portfolio Caps

private ryan — Tue, 11 Sep 2007 11:00:00 GMT

So much for fiscal restraint or responsibility especially with Freddie and Fannie's past troubles respectively. But what does Schumer care with his woeful lack of any understanding of tax policy, economics, financial services etc. It's not his money. But this initial response is far better than most Democratic responses: turn it over to the trial bar.

RE:Schumer Bill Would Lift GSE Portfolio Caps

Jeff — Tue, 11 Sep 2007 11:00:00 GMT

This is only putting a small band-aid on the problem, economically it is a bail out for the banks not helping the consumer . The foreclosures the banks are getting back & trying to recover their losses are probally in the range of 20-30% below principal balance of their loans.