The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' says [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: Yahoo! Finance
The idea is for Freddie Mac to start purchasing secondary mortgages, offering a cost-effective way for borrowers to tap equity. Homeowners face few options to do this, as there aren't many willing buyers. An idea is percolating at one of America's government-sponsored mortgage finance giants that could unlock a huge new lifeline for homeowners, Meredith Whitney wrote for The Financial Times "As early as this summer, a proposed move could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn," Whitney wrote. That's if Freddie Mac secures approval from its regulator to operate in the market for secondary mortgages, also commonly known as home equity loans. If greenlighted, the scheme would be equivalent to a huge stimulus injection, but without a cent added to the national deficit, the "Oracle of Wall Street" explained. Under the plan, Freddie Mac could start purchasing second mortgages and package them into bonds the way it does
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News
- ETFs to Play as Mortgage Rates Look Likely to Fall [Yahoo! Finance]Yahoo! Finance
- Spring homebuying season kicks off with encouraging start; California median home price sets new all-time high, C.A.R. reports [Yahoo! Finance]Yahoo! Finance
- Looking to purchase a home? These U.S. cities are the most buyer-friendly. [CBS News]CBS News
- Looking to purchase a home? These U.S. cities are the most buyer-friendly. [Yahoo! Finance]Yahoo! Finance
- Looking to purchase a home? These U.S. cities are the most buyer-friendly. [CBS News]CBS News
FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- FMCC's page on the SEC website