Tuesday, January 10, 2012

Fannie Mae CEO Michael Williams Steps Down

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Jan 10, 2012 5:47PM

Fannie Mae CEO Michael Williams Steps Down

Statement of FHFA Acting Director Edward J. DeMarco on Michael Williams Announcement "Today Michael Williams announced his intention to step down as Chief Executive Officer of Fannie Mae after 21 years of service to the company. Over these years, Mr. Williams has served Fannie Mae in many capacities, most notably as the executive responsible for overseeing the company's financial restatements and accounting and control reforms pre-conservatorship, as Chief Operating Officer, and since...

Jan 10, 2012 10:10AM

Wells Rolls the G-fee Hit Ordered by Congress; Indiana Refines Originator Rules; Fannie's EarlyCheck Benefits

Last weekend I took my daughter, who is taking some fancy economics class in high school, with me to the used record store. I had eighty three 45 RPM records that I've been hauling around me with for the last 25-30 years, gathering dust after I played them once to record them onto my cassette tapes, and I figured I'd sell them to help finance her college tuition. "You'll see economics in action!" I told her as we walked in. And as we walked out, with my box of eighty three records still under my...


Micro News

5:30 PM:

FHFA Statement on Fannie Mae CEO Michael Williams Resignation

4:58 PM:

Fannie Mae CEO Mike Williams to Step Down

1:54 PM:

Negative Reprice Risk Increases as MBS Fall

1:09 PM:

3yr Auction: STRONG Demand. Maybe Too Strong...

11:34 AM:

Uneventful Range-Trade For MBS and Treasuries

10:47 AM:

HOPE NOW Reports 969K Loan Mods Through November

10:05 AM:

ECON: Wholesale Inventories Rise 0.1 pct, Missing Forecast

8:40 AM:

MBS Weaker On Relatively Quiet Overnight Session. Class A Roll Tonight.

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Today's Comments

NREYNOLDS

"I love that last paragraph. My response to this overall is DUH, why did it take so long for someone to notice these "shoddy practices?" First..."

Michael Kelleher

"Great post! Well informed."

Frank Ceizyk

"Another product of the never ending culture of blame--govt blames mortgage industry for economic calamity, we blame govt for forcing us to lend money to..."

Today's Q&A

"What are the rates for 15 yr fixed "

"Should I pay down 1st mortgage (4.875%) or HELOC (2.25%) first?"

"When is a payment considered "late" and reported to the credit agencies?"