Independence needs to be complete, including the right to fail completely or to thrive. Along the same lines, FIRREA Chapter XI needs to be rescinded; TAF dissolved and state enforcement of “GSE or federally regulated” transactions needs to come to an end.

Fannie and Freddie clearly only think of USPAP in terms of plausible deniabiliity, and prefer to insert their own interpretations of what can and cannot be done. IF they are to be truly independent ‘let them’ set their own standards, while the rest of us continue to develop MEANINGFUL standards on our own. FHA and HUD would presumably follow some form of USPAP as it exists or is rewritten.

The fed hand outs and charging the losses of all their friendly corporations to the dollar, is certainly not a one off event. They just were waiting for a good cover play to let the air out of the bubble. The most valuable germ molecule in history, to the tune of what, 50 trillion? Monetizing a flue virus is actually quite genius. Because nobody can see it, nobody can prove when enough is enough. What’s happening is not about public safety or financial stability. It’s just another day for the fed and another drop in the bucket of special interest handouts. Don’t worry, the nice high end restaurants the wealthy frequent are going to be doing just fine, finally they can keep the riff raff out of there and dine in peace.

It’s a sure thing. At least for the time being, the taxpayers are covering every mortgage in America. The investors are going to jump in, cash out, and then get millions of properties basically free of charge as they write down the losses from the loan and the default management. Because the market is primed to crash so hard, they probably will have a lower capitalization requirement to boot. They’ll finalize that little detail after the air is let out. It’s a great time to refi! The economy as we know it is currently in free fall, it’s just nothing has hit the ground yet. Soon. Everything is just fine. The fed is going to save the little guy too, not just large corps this time around. Or so they say.

The stock market is having a very calm day on Thursday, with major averages slightly lower as of 2 p.m. EDT. On the other hand, mortgage giants Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) are spiking higher, up by 17% and 19%, respectively.

This move might seem counterintuitive at first. After all, earlier in the day, a report indicated that mortgage delinquencies rose by 1.6 million in April, the largest jump in history. But that’s not what is on investors’ minds.

So what
The holy grail for stock investors in Fannie and Freddie would be for the two government-sponsored enterprises to exit conservatorship.”

https://www.fool.com/investing/2020/05/21/heres-why-fannie-mae-and-freddie-mac-are-soaring-o.aspx

https://finance.yahoo.com/news/major-reallocation-shock-from-coronavirus-will-see-42-of-lost-jobs-evaporate-172558520.html

Although the pandemic is perceived as a “one-off” event — albeit a big one — economists are warning the impending changes to the economy will result in long-term behavioral shifts, and likely to see mass bankruptcies.

“The restaurant industry provides a salient example of intra-industry reallocation in the current crisis,” the University of Chicago study wrote.

Using National Restaurant Association data about recent eatery closures, researchers extrapolated their findings that over 100,000 restaurants are expected to be permanently shuttered in the near-term — even as takeout and delivery options boom. “Much of this immediate reallocative impact will likely persist,” the study added.

Negative -.5% 30 year mortgage rates in Denmark. But the consumer still loses. (Somewhere in the 2/4 of the broadcast.)

In relation to this article. If the government is involved, systems become mismanaged and get worse, not better. They may increase in scale, but the value of things they manage always takes a hit.

It’s time to wind down the gse’s and get the taxpayer out of the business of mortgage lending. 25% of restaraunts will not re open. Major chains continue to bring forth news of massive lay offs. Class action suits on the rise. Actual unemployment may be at 40% or higher. Corporations and their for sale government minions are getting desperate. If anyone thinks we’ll simply skate out of this without missing but a beat… My status: Marketing reo providers.