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Loan Modification

: Mortgage Lender Implode-o-Meter

Former Regulator: GSE Losses Won't Be Recouped

By Implode-Explode Heavy Industries

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``The $150 billion or so that U.S. taxpayers have spent to prop up Fannie Mae and Freddie Mac is "gone and won't be coming back," according to former Federal Home Loan Bank Board member Larry White. Speaking at a GSE forum in Washington, White, who served as a top regulator during the S&L crisis of the 1980s, said the money the Treasury has spent on the GSEs will "not be recovered like the TARP," a reference to certain investments the U.S. Treasury made in ailing banks and other companies that have been repaid.''

Full post as published by Mortgage Lender Implode-o-Meter on January 24, 2011 (boomark / email).

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