Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

The Capital Rule and FNMA

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Fannie Mae and Freddie Mac have now officially said that they oppose the capital rule proposed by the Federal Housing Finance Agency. The government-sponsored enterprises agreed with critics of the rule who said the capital rule would increase costs for borrowers.

In a note over the weekend, analyst Dick Bove of Odeon Capital pointed out that Fannie Mae Chief Financial Officer Celeste Brown said recently that she had reservations about the FHFA’s capital rule as it was proposed. He also argued two more points, although his views are controversial.

Bove argued that FHFA Director Mark Calabria “is a highly intellectual, honest, and committed Libertarian who is adamant that the GSEs are not good for the government or the economy.” However, others like Tim Pagliara of CapWealth Advisors believe Calabria supports Fannie and Freddie, based on his actions and comments.