GSE Losses Could Cost Gov Over $400 Billion

Author:  //  Category: Mortgage

The U.S. Department of the Treasury announced that the program established under the Housing and Economic Recovery Act to purchase GSE-guaranteed mortgage-backed securities will end on Dec. 31. The Treasury also said it would amend the preferred stock purchase agreements that were established to ensure both firms maintain a positive net worth are being increased from $200 billion for each firm to whatever is “necessary to accommodate any cumulative reduction in net worth over the next three years.”

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GSE Losses Could Cost Gov Over $400 Billion

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