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Loan Modification

: Mortgage Lender Implode-o-Meter

The Fed's GSE Tab: $248.3 Billion and Counting

By Implode-Explode Heavy Industries

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The Federal Reserve Bank of New York has invested at least $248.3 billion in MBS and debt issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, according to a budget addendum released Monday by the White House. The figure represents asset and debt purchases as of March 31. A spokeswoman for the New York Fed was asked to provide an updated figure for the end of April but at press time had not gotten back to National Mortgage News. The MBS (Fannie/Freddie guaranteed) bought by the government total $201.5 billion, with the debt at $46.8 billion. The debt number includes $11.1 billion in bonds issued by various FHLBs. In the new "Analytical Perspectives, Budget of the U.S. Government" the White House also discusses the future of the GSEs, mentioning ? as one option ? their dissolution.

Full post as published by Mortgage Lender Implode-o-Meter on May 11, 2009 (boomark / email).

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