4 F’s – Fannie, Freddie, FHA and FDIC
I don’t know about you, but it gives new meaning to the letter grade “F.”
Fannie and Freddie have been taken over by the government and are hemorrhaging billions of dollars every month.
FHA is very close to running out of money and, as we discussed earlier this week, looking at a variety of was to improve performance including tighter restrictions, larger downpayments, higher PMI costs etc.
and the FDIC?
As this chart shows and in light of the AmTrust seizure last night, they are doing fine. Nothing to see here, move along, move along……
That’s right, as of September, the balance in the FDIC deposit insurance fund, based on anticipated losses (if they seize control fo a bank, they don’t actually take the losses until they sell assets) through September. And take a look at the blue line. It keeps climbing and climbing……
Yeah, we’re done with all of this. Sure we are……
Tom Vanderwell
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