The Mark Spain Team

Atlanta Mortgage News:
Income and expense data released by the Federal Reserve this week shows the central bank is earning a pretty penny from its investments in mortgage securities.
The Fed began buying mortgage bonds from Fannie Mae, Freddie Mac, and Ginnie Mae in November of 2008 to help prop up the nation’s deteriorating mortgage markets and provide a boost to the ailing economy.
In 2009, Fed officials reported that these efforts, combined with the central bank’s purchases of Treasury securities, yielded a $46.1 billion profit. In 2010, earnings on those investments jumped to $76.2 billion, based on the Federal Reserve’s preliminary estimates.
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