The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between August 13 and August 19, the Federal Reserve purchased a gross total of $26.640 billion agency MBS. After subtracting sales (providing liquidity/the roll) the Fed's...
Another bad day for the financial markets as two of its major players, Fannie Mae and Swiss banking power UBS announced big losses on mortgage related investments. UBS said that it would have first-quarter losses of $10.9 billion and would cut 5,500 jobs, nearly half in its investment banking unit. The...
The Office of Federal Housing Enterprise Oversight (OFHEO) which oversees operation of Fannie Mae and Freddie Mac late Tuesday announced a major initiative in cooperation with the two government sponsored enterprises (GSEs) to increase, by perhaps as much as $200 billion, the liquidity of the mortgage...