Real-estate cycles still mysterious Jun 28, 2009
The Federal Housing Finance Agency, which regulates Fannie Mae, Freddie Mac and the Federal Home Loan Banks, pegs the national drop in home prices at 14. 2 percent over the past two calendar years. (AZCentral -- Business)
Cox Questioned Oversight of Fannie Mae, Freddie Mac in Last Days at SEC Jun 3, 2009
If the government chose not to back Fannie Mae and Freddie Macs debt and they defaulted, Cox said there may be significant impact on both the Treasury market as well as the agency market, including the Federal Home Loan Banks, the Farm Credit System and the Tennessee Valley Authority. . (Bloomberg)
CIBC Announces Second Quarter 2009 Results May 28, 2009
------------------------------------------------------------------------- US$ millions, as at April 30, 2009 ------------------------------------------------------------------------- Exposures(1) ------------------------------------------------------------------------- Investments Written credit derivatives and liquidity and credit facilities(2) ---------------------------------- ---------------------- Fair Carrying Fair Notional value value Notional value(4)... (Canada Newswire)
The Left Still Relies on Lies May 20, 2009
This bill expressly stated that a Federal Housing Finance Agency would have Authority over Fannie Mae, Freddie Mac, and Federal home loan banks. But Frank, as well as 73 other Democrats. (Human Events Online)
Paul Krugman: So many bailouts, and now bank pay is soaring again Apr 28, 2009
I'm not just talking about the $600 billion or so already committed under the TARP. There are also the huge credit lines extended by the Federal Reserve, large-scale lending by Federal Home Loan Banks, the taxpayer-financed payoffs of AIG contracts, the vast expansion of FDIC guarantees and, more broadly, the implicit backing provided to every financial firm considered too big, or too strategic, to fail. One can argue that it's necessary to rescue Wall Street to protect the economy as a whole... (Sacramento Bee -- Opinion)
Say Goodbye to Fannie, Freddie as Housing Collapse Wrecks Profits, Status Apr 16, 2009
One possibility that Ive looked at is letting the Federal Home Loan Banks take over some of their obligations and operations ... The Federal Home Loan Banks are 12 government-chartered cooperatives that lend money for mortgages at below-market rates to their membership of more than 8,100 thrifts, commercial banks, insurance companies and credit unions. (Bloomberg)
Phila. gets $10M in Federal Home Loan Bank funds Apr 15, 2009
Philadelphia has received nearly $10 million in affordable housing grants for the construction and rehabilitation affordable housing from the Federal Home Loan Banks of Pittsburgh and San Francisco. The two lending institutions provided the city $9. (Philadelphia Business Journal, PA)
Honest Man Emerges From Muck of Banking Crisis: Jonathan Weil Apr 2, 2009
The Office of Finance issues and services all the debt for the 12 regional Federal Home Loan Banks. Thats a lot of debt -- $1. (Bloomberg -- Columnists)
Federal Home Loan bank forgoes dividend Mar 27, 2009
The Atlanta institution is one of 12 Federal Home Loan Banks across the country that Congress created during the Great Depression. The banks don t lend to individuals, but to member banks. (Atlanta Journal-Constitution -- Business)
Lawmakers soften opposition to bonuses Mar 26, 2009
In addition to major banks and companies like AIG, the bill would apply to Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Type Size. (AZCentral -- Business)
Region's home prices end skid Mar 25, 2009
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 federal home loan banks. Reader Comments. (Denver Business Journal, CO)
Federal Home Loan Bank of Atlanta Announces 2008 Operating Highlights Mar 14, 2009
The forward-looking statements may not be realized due to a variety of factors, including, without limitation: legislative and regulatory actions, changes or approvals; future economic and market conditions; changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates; political, national and world events; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general.... (PR Newswire)
Source: Mark-to-Market Will Stay in Force Mar 11, 2009
Ahead of the hearing, dozens of business groups and federal home loan banks expressed their concerns to the top lawmakers on the full House Financial Services Committee ... The letter, dated March 9, was signed by some of the biggest industry groups, such as the U.S. Chamber of Commerce and the American Bankers Association as well as a number of federal home loan banks. (Newsmax)
FHLB Cincy: Profit down, capital up Feb 25, 2009
The Cincinnati institution is part of the 12-bank Federal Home Loan Banks system chartered by Congress to promote housing finance. The system counts 728 member banks in Ohio, Kentucky and Tennessee. (Columbus Business First, OH)
Bernanke Lacks Consensus on Buying Treasury Securities as Yields Increase Feb 10, 2009
9 billion of debt issued by Fannie Mae, Freddie Mac and Federal Home Loan Banks, out of a possible $100 billion. The Fed plans this month to announce a start date for the Term Asset-Backed Securities Lending Facility, or TALF, to prop up the market for student and auto loans, credit-card debt and small-business lending. (Bloomberg)
End of an era Apr 1, 2008
Especially when it comes to the key marketplace for agency securities, policymaker efforts are directed at sustaining perceived "moneyness" - through both governmental support (tacit guarantees and Fed liquidity operations) and a renewed bid for mortgages by the GSEs (Fannie, Freddie, and the FHLB - the Federal Home Loan Banks). And while such efforts have important ramifications with regard to accommodating the ongoing de-leveraging process (and averting credit system implosion), they are at... (Asia Times Online)
Treasury Bill Rates Post Biggest Weekly Jump Since 1982 as Fed Adds Funds Mar 30, 2008
Bills started to slide on March 24 as stocks rose and Federal Home Loan Banks were freed to buy more mortgage-backed bonds, lowering the appeal of government debt. Losses deepened after the Fed auctioned $75 billion of Treasuries to primary dealers in a bid to boost lending. (Bloomberg -- US)
Congress looking for broader fixes for U.S. economy Mar 28, 2008
Despite the difficulty of consensus in an election year, there is broad agreement on some elements of the pending legislative agenda including the need to complete bills to strengthen the capacity of the Federal Housing Administration and government-sponsored enterprises, such as Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, to respond to the mortgage crisis. "There is bipartisan interest in bolstering our economy, maintaining stable and orderly capital markets, and helping... (Christian Science Monitor -- USA)
The Walking Debt Mar 28, 2008
Chicago: In his commentary on the Federal Home Loan Banks, the author might have confused the action taken this week ... In referring to "member banks" I was referring to the actual Federal Home Loan Banks, not to the private banks that access credit through them. (Slate)
$100 billion boost envisioned for Fannie, Freddie / Home Loan Banks get OK to double mortgage purchases Mar 26, 2008
The move "to enable the Federal Home Loan Banks to assist temporarily in this period of stress, consistent with safe and sound operations, will bring more liquidity to the mortgage market," Treasury Secretary Henry Paulson said in a statement. Created by Congress during the Depression, the self-funded home loan bank system has about 8,100 members around the country: banks, savings and loans, and credit unions. (San Francisco Chronicle)
Load up the wagon, get more votes Mar 25, 2008
Be it right or wrong, the Federal Reserve is trying to correct the situation by continually lowering the discount rate and obligating hundreds of billions of tax dollars to the mortgage market through Fannie Mae, Freddie Mac, and the 12 regional Federal Home Loan banks. In the past 10 days the Fed has dropped its rate 100 basis points; recent Fed action has been of historic proportions. (Seantobia Democrat, MS)
Government Eyes Ways to Help Markets Mar 25, 2008
Regulators are expected to allow the 12 regional Federal Home Loan banks to buy an additional $160 billion in mortgage-backed securities, which is expected to help revive the mortgage security market. Several proposals would give the Federal Reserve broader responsibility for regulating the financial market, while providing them access to the federal safety net and prevent such a crisis from happening again. (Realtor Magazine Online)
Federal banks can buy more mortgage-backed debt Mar 25, 2008
template_bastemplate_bas March 25, 2008 The nation's 12 Federal Home Loan Banks were freed Monday to boost their purchase of mortgage-backed bonds by about $150 billion -- another government step to pump money back into a market that slumped as the housing crisis deepened ... The approval for Federal Home Loan Banks to increase their purchases comes a week after Fannie Mae and Freddie Mac were cleared to buy at least $200 billion of mortgage securities to add to their already huge portfolios ...... (Los Angeles Times)
U.S. Stocks Rise on JPMorgan's Increased Bid for Bear, U.S. Housing Report Mar 25, 2008
Financial also gained after Federal Home Loan Banks were freed to increase their purchases of mortgage-backed bonds by about $150 billion, the latest in a series of government initiatives to resuscitate lending by financial institutions. fell $2. (Bloomberg -- US)
Fed adds further mortgage support Mar 25, 2008
The Federal Housing Finance Board approved a plan that would allow the 12 privately funded, government-sponsored Federal Home Loan Banks that the system regulates to purchase about $100 billion in mortgage bonds over the next two years ... The targeted decision by the Federal Housing Finance Board to enable the Federal Home Loan Banks to assist temporarily in a period of stress. (Scranton Times, PA)
Rally Extended Mar 25, 2008
Rally Lifts Financial, Home ETFs (Financial Select Sector SPDR, SPDR Sbuilders, CurrencyShares Japanese Yen Trust, Vanguard Extended Duration Treasury ETF) at SmartMoney. Sign up now for FREESmartMoney. (SmartMoney)
Banks allowed to lift MBS holdings Mar 25, 2008
The Federal Home Loan Banks were permitted to purchase about $150 billion of mortgage-backed securities under existing rules and will now be able to buy roughly that same amount in new agency investments, according to bank sources. Banks allowed to lift MBS holdings 1. (ABC News -- Wire)
Taming the beast Mar 25, 2008
And the government is rushing in to help, with hundreds of billions from the Federal Reserve, and hundreds of billions more from government-sponsored institutions like Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Given the risks if the financial system melts down, this rescue mission is justified. (International Herald Tribune -- Ed/Op)
Washington Report: Buying Bonds and the Mortgage Market Mar 24, 2008
At the same time, the 12 Federal Home Loan Banks prepared a plan that could allow them to buy an additional $160 billion in mortgage bonds ... The same is true for the Federal Home Loan Banks. (RealtyTimes)
Too big to bail Mar 19, 2008
In a free market, bankruptcy would loom but in our system, Countrywide and others can turn to the government-backed Federal Home Loan Banks for cash; these banks have lent Countrywide over $70 billion so far ... Cash from Federal Home Loan Banks is just one of the many entrees the government provides on its bailout menu. (SunOnline)
Regulator of Fannie, Freddie may see modest budget boost Feb 5, 2008
The budget request calls for legislation to create a unified, stronger regulator for Fannie Mae, Freddie Mac and the Federal Home Loan Banks. "The current mortgage markets present growing challenges and risks to the housing [government-sponsored enterprises] and their regulators," said James Lockhart, director of the Office of Federal Housing Enterprise Oversight, in a statement released by the agency. (Washington Business Journal, DC)
S&P cuts subprime ratings, puts losses at $265bn Feb 1, 2008
Almost half the subprime bonds rated by S006 and early last year were cut or placed on review, potentially forcing credit unions and government-sponsored enterprises such as Fannie Mae, Freddie Mac and the 12 federal home loan banks to write down their holdings. Scted this to affect "trading revenues, general business activity, and liquidity for the banks". (Business Report, South Africa)
Mortgage-related bank losses to top $265-billion: S&P Jan 31, 2008
S&P said it expects upward revision of losses from some large European banks that have not yet reported earnings, while in the United States it expects losses to move to regional banks, credit unions and federal home loan banks. The ratings agency said it will be reviewing exposures of institutions that hold a substantial portion of their assets in residential mortgage-backed securities. (Globe and Mail)
Countrywide deal spurred by crackdown worries: report Jan 29, 2008
Charles Schumer wrote a letter to regulators of the Federal Home Loan Banks, arguing a surge in Countrywide's extensive borrowing posed a risk to the regional bank lending system. Rapid growth in consumer bank deposits at Countrywide meanwhile raised the potential of greater scrutiny from the Federal Deposit Insurance Corp. Countrywide also was dealing with a series of investigations by state attorneys general and the Securities and Exchange Commission. (ABC News -- Wire)
Capital One Expects Fourth Quarter 2007 Diluted EPS of About $0.60 Jan 10, 2008
Liquidity The company maintained its strong balance sheet position at the end of 2007, finishing the year with more than $29 billion in available liquidity, consisting of unencumbered and highly liquid investment securities, unused committed conduit capacity, and available borrowing capacity from the Federal Home Loan Banks. The company recently moved Capital One Auto Finance Company ("COAF"), a previously wholly owned finance company subsidiary of Capital One Financial Corporation (the "holding... (PR Newswire)
A safety net for lenders Dec 6, 2007
The borrowers, which have to be a member of one of the 12 Federal Home Loan banks, seek these advances putting mortgages and securities up as collateral ... With financial institutions across the country from Washington Mutual to Countrywide Bank feeling crunched under growing problem mortgages and subprime home loans, they're increasingly turning to Federal Home Loan banks for aid. (Atlanta Journal-Constitution -- Business)
Federal Home Loan Bank of New York Goes Live on FLEXCUBE Dec 5, 2007
The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America's homebuyers. For more information, please visit: For more information on the press release, please contact: Sunil Robert i-flex solutions Tel: +1-646-619-5339 Mobile: +1-646-642-3690 Email. (PR Newswire)
FHLBank of Dallas Announces the Appointment of Three Directors Dec 1, 2007
DALLAS, Nov. 30, 2007 (PRIME NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) announced that the Federal Housing Finance Board, which regulates the 12 Federal Home Loan Banks, has reappointed two directors and appointed one new director to serve on the Bank's Board of Directors. ADVERTISEMENT. (Primezone Releases)
Pinched by credit crunch, banks dust off a Depression-era relic Oct 31, 2007
Countrywide Financial, Washington Mutual, Hudson City Bancorp and hundreds of other lenders borrowed a record $163 billion from the program through 12 Federal Home Loan Banks in August and September as interest rates on asset-backed commercial paper rose as high as 5 ... The Federal Home Loan Banks can lend at below-market rates because their government charter enables them to borrow more cheaply than other financial institutions. (International Herald Tribune -- Business Asia)
Countrywide CEO: More trouble ahead for housing market Oct 30, 2007
Both Mozilo and Mezger said they want the government to lift loan limits on government-sponsored operations such as Fannie Mae, Freddie Mac and other federal home loan banks. The government firms buy blocks of mortgages from lenders and then pool them into securities for sale on Wall Street. (USA Today -- Money)
Seattle home loan bank moves out of woods Oct 10, 2007
To understand the bank's trip in and out of the woods, it's important to know that the nation's 12 Federal Home Loan Banks don't deal directly with the public. They are cooperatives where retail banks, savings and loans and even a few insurance companies borrow money to fund mortgages. (Puget Sound Business Journal, WA)
Loans to banks by Federal Home Loan Bank system jumped 16.6 percent in August Sep 5, 2007
On the Net: Federal Home Loan Banks Office of Finance. Sponsored Links. (San Diego Union-Tribune -- Business)
US boosting loans to lenders Aug 21, 2007
The role of the little-noticed web of 12 federal home loan banks has taken on increased significance because Washington is not in favor of allowing and to increase their debt burden until they are under tighter government supervision ... Like Fannie and Freddie, the federal home loan banks are government-chartered enterprises, benefiting from the widespread assumption on Wall Street that the federal government would bail them out in the event of a crisis. (Boston Globe)
Countrywide, Markets On The Ropes Aug 17, 2007
lender to rely less on funding its activities from the debt and credit markets and more on its own deposits, as well as borrowing from the network of Federal Home Loan Banks. As a result, Countrywide shares plunged nearly 30% to $15 before recovering slightly. (Forbes -- Business)
Countrywide warns of credit-market risks Aug 11, 2007
9 billion in repayments on advances from Federal Home Loan Banks, up from $28. 37 billion for the comparable period. (MSNBC -- Business)
Federal Home Loan Bank of Chicago Announces 2007 Second Quarter Financial Results Aug 11, 2007
The Federal Home Loan Bank System, which includes 12 Federal Home Loan Banks, is celebrating its 75th anniversary in 2007. The U.S. Congress created the System in 1932 to promote housing finance, but the Banks are wholly owned by their member institutions. (PR Newswire)
Dallas, Chicago Home Loan Banks Consider Merger Aug 9, 2007
(August 7, 2007)--The Federal Home Loan Banks of Dallas and Chicago announced Wednesday they're considering merging their operations. The banks are cooperatives owned by member financial institutions in their areas. (KWTX.com, TX)
Federal Home Loan Banks of Chicago, Dallas talk merger Aug 9, 2007
WASHINGTON (Reuters) - The Federal Home Loan Banks of Chicago and Dallas announced on Wednesday that they have begun preliminary talks about a possible merger as both banks face challenges turning a profit ... The Federal Home Loan banks are government-sponsored enterprises that use private capital to finance U.S. housing and community development. (ABC News -- Wire)
FHLB of Chicago in talks to merge with Dallas counterpart Aug 9, 2007
The Federal Home Loan Banks are government-sponsored enterprises that provide low-cost loans to their member banks, many of which are community institutions. Additional Resources. (Crain's Chicago Business)
House Passes NAR-backed GSE Reform Act May 24, 2007
Fannie Mae, Freddi,e Mac and the Federal Home Loan Banks are our partners in the real estate industry and keeping them strong and sound ensures the continued vitality of our nation s housing finance system. NAR will eagerly work with the Senate to encourage their quick action. (Realtor Magazine Online)
House Passage of GSE Reform Praised by Realtors(R) May 23, 2007
"H.R. 1427 strikes the appropriate balance and creates a world-class regulator while not imposing statutory limitations on the GSEs' portfolios, which could hurt the housing finance market and limit funds available for affordable housing," noted Pat Vredevoogd Combs, president of NAR. "Fannie Mae, Freddie Mac and the Federal Home Loan Banks are our partners in the real estate industry and keeping them strong and sound ensures the continued vitality of our nation's housing finance system. NAR... (PR Newswire)
Fannie Mae bill advances May 23, 2007
The new regulator also would supervise the Federal Home Loan Banks, a government-chartered cooperative that advances money to 8,100 thrifts, credit unions, insurers and banks at below-market rates. Advertisement. (Sunspot.net -- Business)
Banks in Real Estate Issue Takes on New Urgency May 17, 2007
They ll also be asking their members to vote for reforms to the oversight of the secondary mortgage market entities Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, which come up for a vote in the House this week. The legislation is strongly backed by NAR because it creates an independent regulatory environment for the entities, known as government-sponsored enterprises, while at the same time giving them the ability to offer competitive alternatives to subprime financing. (Realtor Magazine Online)
Subprime Reforms to Have Slight Market Impact Mar 31, 2007
The bill would overhaul the regulatory structure for the nation s housing finance GSEs that include Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. The legislation now moves to the full House of Representatives for approval. (Realtor Magazine Online)
Subprimes: Regulation Not Legislation Mar 23, 2007
and others have already introduced bipartisan legislation that would overhaul regulatory oversight of Freddie Mac, Fannie Mae and the Federal Home Loan Banks. John Taylor, president of the National Community Reinvestment Coalition, wants Congress to take additional action to help subprime borrowers who are currently in default. (Forbes)
NAR: Fannie, Freddie Need Stronger Oversight Mar 14, 2007
We believe that having a single, independent, safety and soundness regulator for Fannie Mae, Freddie Mac and the Federal Home Loan Banks, with oversight and appropriate authority, is imperative to ensuring the support of their vital housing finance mission, says Thomas M. Stevens, immediate past president of NAR. ... " In addition to creating a strong regulator and GSE governance, NAR encouraged Congress to maintain the focus on the GSEs important housing mission, provide a streamlined new... (Realtor Magazine Online)
Federal Home Loan Bank of Seattle CEO leaving Feb 22, 2007
The Seattle branch, which serves eight states, is one of 12 Federal Home Loan Banks in the country. Related Industry stories. (Puget Sound Business Journal, WA)
Home Loan Bank provides $2.4M for housing Jan 2, 2007
The Cincinnati branch is one of 12 Federal Home Loan Banks established by Congress in 1932. It does not receive taxpayer money and is owned by its member banks. (Columbus Business First, OH)
