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Author Howard, Timothy (Business writer)

Title The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / Timothy Howard.

Publication Info. New York : McGraw-Hill, [2014]


Location Call No. OPAC Message Status
 Axe 3rd Floor Stacks  332.72 H836m 2014    ---  Available
1 copy being processed for Axe Acquisitions Order.
Description xvi, 288 pages ; 23 cm
text txt rdacontent
unmediated n rdamedia
volume nc rdacarrier
Bibliography Includes bibliographical references and index.
Summary "The former Fannie Mae CFO's inside look at the war between the financial giants and government regulators A provocative true-life thriller about the all-out fight for dominance of the mortgage industry--and how it nearly destroyed the global financial systemMany books have been written about the 2008 financial crisis, but they miss the biggest story of the meltdown: the battle between giant financial companies to dominate the $11 trillion mortgage market that almost destroyed the global financial system. For more than twenty years, until 2004, Timothy Howard was a senior executive at the best known of those companies, Fannie Mae, and he was in the middle of that fight. In The Franchise, Howard explains how seemingly unrelated developments in banking regulation, housing policy, Wall Street financial innovation, and political lobbying all combined to wreak havoc on the American housing market and the world economy. Timothy Howard was Vice Chairman and Chief Financial Officer of Fannie Mae until 2004. Prior to this, he was senior financial economist at Wells Fargo Bank in San Francisco"-- Provided by publisher.
Contents Principal players in the mortgage wars story -- The Mortgage Wars and the Financial Crisis. The financial market wildfire ; The largest credit market in the world. -- Fannie Mae's Rise to Prominence. Birth, trial, and turnaround ; Managing risk ; The Volcker standard gives Fannie Mae an edge ; Fannie Mae's opponents change tactics ; Conflicts with fast-growing lenders. -- The Fight for the Mortgage Market. A surprise from the Treasury Department ; Private-label mortgage-backed securities ; A gathering storm of opposition ; Fannie Mae tightens its disciplines ; Private label takes center stage ; A compromise attempt turns into full-scale war. --Countdown to the Meltdown. Allegations of fraud: the special examination ; Sorting out the facts ; Baseless demand, fateful results ; The market melts down: Fannie Mae is nationalized ; Aftermath.
Subject Mortgage loans -- United States.
Subprime mortgage loans -- United States.
Federal National Mortgage Association.
Mortgage banks -- United States -- History.
Housing -- United States.
Federal National Mortgage Association. (OCoLC)fst00510319
Housing. (OCoLC)fst00962245
Mortgage banks. (OCoLC)fst01026553
Mortgage loans. (OCoLC)fst01026596
Subprime mortgage loans. (OCoLC)fst01745731
United States. (OCoLC)fst01204155
Federal National Mortgage Association.
Genre/Form History. (OCoLC)fst01411628
ISBN 9780071821094 (hardback)
0071821090 (hardback)

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