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patb.
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October 22, 2009 at 2:56 PM #473241October 22, 2009 at 3:12 PM #472591
jpinpb
ParticipantSDR – I didn’t know, but I suspected as much.
October 22, 2009 at 3:12 PM #473246ParticipantSDR – I didn’t know, but I suspected as much.
October 22, 2009 at 3:12 PM #472411ParticipantSDR – I didn’t know, but I suspected as much.
October 22, 2009 at 3:12 PM #472946ParticipantSDR – I didn’t know, but I suspected as much.
October 22, 2009 at 3:12 PM #473021ParticipantSDR – I didn’t know, but I suspected as much.
October 22, 2009 at 3:25 PM #473031SD Realtor
ParticipantGuys what I was wondering was how many entities have been established to move what are essentially govt owned properties.
This actually dovetails into the whole shadow inventory discussion.
I should have renamed the post or shall I say named it differently. My main point here is that this cannot be the only one. As far as I would guess there are probably more then just this one.
October 22, 2009 at 3:25 PM #473256ParticipantGuys what I was wondering was how many entities have been established to move what are essentially govt owned properties.
This actually dovetails into the whole shadow inventory discussion.
I should have renamed the post or shall I say named it differently. My main point here is that this cannot be the only one. As far as I would guess there are probably more then just this one.
October 22, 2009 at 3:25 PM #472421ParticipantGuys what I was wondering was how many entities have been established to move what are essentially govt owned properties.
This actually dovetails into the whole shadow inventory discussion.
I should have renamed the post or shall I say named it differently. My main point here is that this cannot be the only one. As far as I would guess there are probably more then just this one.
October 22, 2009 at 3:25 PM #472956ParticipantGuys what I was wondering was how many entities have been established to move what are essentially govt owned properties.
This actually dovetails into the whole shadow inventory discussion.
I should have renamed the post or shall I say named it differently. My main point here is that this cannot be the only one. As far as I would guess there are probably more then just this one.
October 22, 2009 at 3:25 PM #472601ParticipantGuys what I was wondering was how many entities have been established to move what are essentially govt owned properties.
This actually dovetails into the whole shadow inventory discussion.
I should have renamed the post or shall I say named it differently. My main point here is that this cannot be the only one. As far as I would guess there are probably more then just this one.
October 22, 2009 at 4:49 PM #472426analyst
Participant[quote=urbanrealtor]
In all seriousness, is that what this is or what?
[/quote]
While not common knowledge, it is not any kind of secret.
http://www.newyorkfed.org/markets/maidenlane.html
Maiden Lane is the name of a street that runs by the New York Federal Reserve building.
The first Maiden Lane LLC was created to receive the 30 billion dollars (29 from the New York Federal Reserve Bank and 1 from J P Morgan Chase) which was used to buy assets out of the Bear Stearns liquidation.
Maiden Lane II LLC and Maiden Lane III were created to assist AIG, the former buying mortgage securities from AIG entities, the latter buying mortgage securities from non-AIG entities to satisfy AIG obligations under credit default swaps.
The Federal Reserve (through entities it controls) has probably become the largest owner of troubled mortgage-backed securities, and is still buying. The Federal Reserve is printing money and deciding who gets relief from troubled mortgage securities.
On many of the securities it buys, the Federal Reserve will be the sole entity with any beneficial interest, and can therefore directly or indirectly instruct the servicers whether to go fast or slow on foreclosures.
This makes the Federal Reserve a big decision-maker regarding the future of house prices.
October 22, 2009 at 4:49 PM #472960Participant[quote=urbanrealtor]
In all seriousness, is that what this is or what?
[/quote]
While not common knowledge, it is not any kind of secret.
http://www.newyorkfed.org/markets/maidenlane.html
Maiden Lane is the name of a street that runs by the New York Federal Reserve building.
The first Maiden Lane LLC was created to receive the 30 billion dollars (29 from the New York Federal Reserve Bank and 1 from J P Morgan Chase) which was used to buy assets out of the Bear Stearns liquidation.
Maiden Lane II LLC and Maiden Lane III were created to assist AIG, the former buying mortgage securities from AIG entities, the latter buying mortgage securities from non-AIG entities to satisfy AIG obligations under credit default swaps.
The Federal Reserve (through entities it controls) has probably become the largest owner of troubled mortgage-backed securities, and is still buying. The Federal Reserve is printing money and deciding who gets relief from troubled mortgage securities.
On many of the securities it buys, the Federal Reserve will be the sole entity with any beneficial interest, and can therefore directly or indirectly instruct the servicers whether to go fast or slow on foreclosures.
This makes the Federal Reserve a big decision-maker regarding the future of house prices.
October 22, 2009 at 4:49 PM #473261Participant[quote=urbanrealtor]
In all seriousness, is that what this is or what?
[/quote]
While not common knowledge, it is not any kind of secret.
http://www.newyorkfed.org/markets/maidenlane.html
Maiden Lane is the name of a street that runs by the New York Federal Reserve building.
The first Maiden Lane LLC was created to receive the 30 billion dollars (29 from the New York Federal Reserve Bank and 1 from J P Morgan Chase) which was used to buy assets out of the Bear Stearns liquidation.
Maiden Lane II LLC and Maiden Lane III were created to assist AIG, the former buying mortgage securities from AIG entities, the latter buying mortgage securities from non-AIG entities to satisfy AIG obligations under credit default swaps.
The Federal Reserve (through entities it controls) has probably become the largest owner of troubled mortgage-backed securities, and is still buying. The Federal Reserve is printing money and deciding who gets relief from troubled mortgage securities.
On many of the securities it buys, the Federal Reserve will be the sole entity with any beneficial interest, and can therefore directly or indirectly instruct the servicers whether to go fast or slow on foreclosures.
This makes the Federal Reserve a big decision-maker regarding the future of house prices.
October 22, 2009 at 4:49 PM #473036Participant[quote=urbanrealtor]
In all seriousness, is that what this is or what?
[/quote]
While not common knowledge, it is not any kind of secret.
http://www.newyorkfed.org/markets/maidenlane.html
Maiden Lane is the name of a street that runs by the New York Federal Reserve building.
The first Maiden Lane LLC was created to receive the 30 billion dollars (29 from the New York Federal Reserve Bank and 1 from J P Morgan Chase) which was used to buy assets out of the Bear Stearns liquidation.
Maiden Lane II LLC and Maiden Lane III were created to assist AIG, the former buying mortgage securities from AIG entities, the latter buying mortgage securities from non-AIG entities to satisfy AIG obligations under credit default swaps.
The Federal Reserve (through entities it controls) has probably become the largest owner of troubled mortgage-backed securities, and is still buying. The Federal Reserve is printing money and deciding who gets relief from troubled mortgage securities.
On many of the securities it buys, the Federal Reserve will be the sole entity with any beneficial interest, and can therefore directly or indirectly instruct the servicers whether to go fast or slow on foreclosures.
This makes the Federal Reserve a big decision-maker regarding the future of house prices.
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