Friday, May 8, 2015

This puts an END to "was fannie sold PLS mortgages"

This puts an END to "was fannie sold PLS mortgages".
From fannie 10-q Q1 2015
the first quarter of 2014, consisting of net income of $5.3 billion and other comprehensive income of $372 million . The decrease in comprehensive income was primarily driven by revenue of $4.1 billion recognized in the first quarter of 2014 resulting from settlement agreements resolving certain lawsuits relating to private-label mortgage-related securities (“PLS”) sold to us. The decrease in comprehensive income was also attributable to a decline in credit-related income and an increase in fair value losses.
again:
from settlement agreements resolving certain lawsuits relating to private-label mortgage-related securities (“PLS”) sold to us.

Remember FHFA settled for 10 cents on the dollar, That $4.1 Billion for Q1 2014 was in reality $41 billion dollars worth of PLS sold to Fannie in ONE QUARTER!

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