GSE legislation takes effect
Article Abstract:
The 1992 Federal Housing Enterprises Financial Safety and Soundness Act mandates three capital standards for government-sponsored enterprises. One is a risk-based standard that pegs the capital requirement to the worst-case mortgage default losses experienced in the US. The minimum capital prerequisite, meanwhile, stipulates the maintenanceof capital beyond 2.50% of its assets listed in its balance sheet and 0.45% of its mortgage-backed securities and other financial instruments. Another capitalstandard sets both figures at 1.25% and 0.25%, respectively.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1993
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House prices fell nationally in the first quarter of 1993 at an average annual rate of 2.1 percent
Article Abstract:
US house prices declined at a 2.1% average annual rate in the 1st qtr 1993 but remained flat in the South region. Prices had increased by 2.1% for 1992 and 1.2% from the 1st qtr 1992 to the 1st qtr 1993, but declined by 3.9% in the West, 3.1% in the Northeast, and 2.5% in the Midwest. The decreases probably reflect an adjustment following strong increases in the 4th qtr 1992. Texas led the way in the South at annual increase rates of 3.0% in 1992 and 6.1% in the 1st qtr 1993. Austin, TX, outperformed other cities in both employment and house prices.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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