This is largely the result of the actions of two senators from opposite sides of the political divide. In late June, Tennessee Republican Bob Corker and Virginia Democrat Mark Warner introduced a bill in the Senate that proposed the winding down of Fannie Mae and Freddie Mac over the next five years and their replacement with a Federal Mortgage Insurance Corporation. No less than 10% of the first loss on the securitizations covered by the FMIC will be taken by the private sector.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
