What mortgage-backed securities mean for the US housing market

What are mortgage-backed securities? And how have they contributed to the the current US property market decline? Dan Amoss takes a closer look.

Analysing Fannie Mae is like driving without a road map in a foreign country full of unfamiliar traffic rules.

The lack of audited financial statements (no road map) and poor understanding of traffic rules (no precedent in financial history) does not give one very much conviction about the value of an equity stake in this behemoth. So let's start with what we do know about Fannie.

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