Progress on Housing Finance Reform

Indeed, Fannie and Freddie would have easily made it through the crisis had this been in place. The legislation further allows new firms to enter the mortgage securitization business now dominated by the two G.S.E.s. With enough competition, no firm in the future housing finance system will be too big to fail. At the same time, a secondary government guarantee behind the private capital would ensure that mortgage financing is available across economic conditions, with taxpayers compensated for taking on residual housing credit risk. This contrasts with the failed system of the past in which the government backstop was implicit but free. The U.S. Mortgage Market Some background might be useful for readers unfamiliar with the workings of our convoluted housing finance system. Originators such as banks make loans, which Fannie and Freddie then buy and bundle into mortgage-backed securities with a guarantee against losses from homeowner defaults. The two firms then sell these securities to investors, now including the Federal Reserve as part of its quantitative easing program. Banks and other lenders like the arrangement because they can readily sell loans to Fannie and Freddie and get cash to lend to yet again.

Ex-Finance Minister named as the new Premier of Egypt

Ex-Finance Minister named as the new Premier of Egypt

The other, larger body consisting of representatives of society and political movements would debate the amendments and approve them. The new Constitution would be put to a referendum within four months from now. Elections for a new Parliament would be held within two months of that. Once the new Parliament convenes, it would have a week to set a date for presidential elections. Besides naming Mr El Beblawi, who served as Finance Minister after the Arab Spring uprising that brought down Hosni Mubarak, as Prime Minister, the spokesman for the interim President said pro-democracy leader Mohamed ElBaradei was named a Vice-President.

Avidbank Corporate Finance Provides Financing Facility to Passkey International, Inc.

We are looking forward to a long-term relationship with them.” “I am pleased we were able to put this facility in place for Passkey,” stated Avidbank Corporate Finance Executive Vice President, Mike Hansen. “They are a good example of companies we like to work with as they are a leader in their market place due to their strong management team. They continue to demonstrate impressive growth. We look forward to a strong and mutually beneficial relationship.” About Avidbank Avidbank Holdings, Inc. (OTCBB: AVBH), headquartered in Palo Alto, California offers innovative financial solutions and services.


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