Barrons / MarketWatch have both posted an article today titled “The Endgame Nears for Fannie and Freddie”.   The articles takes a very critical look at the accounting shenanigans that are practiced daily by these GSE behemoths, and the author posits that after accounting for deferred tax assets and generous assets marks, the Fannie and Freddie may each have a negative asset value of $50 billion.  The Big Picture has a rather biting post up today rehashing the issue.  Both are worth a read; Fannie’s and Freddie’s health will impact the investing activities of both multifamily and single family investors. 

Calculated Risk has a great post up today delving into mortgage default statistics; great in that it takes a very complex subject and lays it out in a sensible and understandable manner.  The clarification was necessitated by an argument over DAPs (down payment assistance programs)

Speaking of down payment assistance or incentive programs, the WSJ has an interesting article up today about how the FBI is now investigating some of these programs in the context of fraud.  We’re all for creative approaches to real estate transactions, and have participated in some ourselves over the years (all above-board). 

Finally, the BawldGuy has some sagacious perspective advice for all. 

Have a good weekend; I’m headed back down to Yellowstone myself for a fly-fishing escape today. 

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