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Good Job, Jay: Fed’s Manic MBS Buying Is Destroying Mortgage Lenders’ Hedges

Summary:
And most ironically, mortgage bankers are demanding The Fed STOP buying mortgage bonds. As Bloomberg reports, bankers are sounding alarms that The Fed’s unprecedented buying of 3 billion of bonds tied to home loans last week are unintentionally putting their industry at risk by triggering a flood of margin calls on hedges lenders have entered into to protect themselves from losses. https://www.zerohedge.com/markets/mortgage-lenders-demand-fed-bailout-after-blaming-fed-forcing-staggering-unprecedented

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And most ironically, mortgage bankers are demanding The Fed STOP buying mortgage bonds. As Bloomberg reports, bankers are sounding alarms that The Fed’s unprecedented buying of $183 billion of bonds tied to home loans last week are unintentionally putting their industry at risk by triggering a flood of margin calls on hedges lenders have entered into to protect themselves from losses.

https://www.zerohedge.com/markets/mortgage-lenders-demand-fed-bailout-after-blaming-fed-forcing-staggering-unprecedented

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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