On September 7, the U.S. Treasury Department and the Federal Housing Finance Authority (FHFA) placed Fannie Mae and Freddie Mac into conservatorship, and announced (i) Treasury’s entry into a Senior Preferred Stock Purchase Agreement with each Government Sponsored Entity (GSE), (ii) the creation of a Government Sponsored Entity Credit Facility (GSECF), and (iii) the adoption of a GSE Mortgage Backed Securities (MBS) Purchase Program.
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USA, Banking, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Katten Muchin Rosenman LLP, Credit (finance), Security (finance), Dividends, Asset management, Mortgage loan, Liability (financial accounting), Preferred stock, Mortgage-backed security, American Recovery and Reinvestment Act 2009 (USA), HM Treasury (UK), US Department of the Treasury
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