Word: maes
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Later that day Mrs. Collins took me around to talk to another neighbor, Mrs. Lillie Mae Common. She had recently quit a cooking job at one of the local eateries, a small room attached to the Pure Oil gas station just this side of the railway tracks that divides the town. The eatery is run by a tall woman, hair dyed an unnatural deep black, whose hips liked to brush against the hairy fingers of a customer. Sister of the gas-station's owner-manager, she was married and yet not married; some mystery surrounded her status...
...just going to the door to say hello to Mrs. Lillie Mae," David answered...
...free-market auction," as Innovator Lapin calls it, will begin May 6 as only the first phase of the shake-up he has devised for Fannie Mae. Last week the Senate Banking Committee gave tentative approval to an Administration-backed bill that would convert the agency's main operation into a completely private company. If the bill passes, Fannie Mae will buy back the $142 million of its preferred stock now held by the U.S. Treasury. "We don't need the Treasury's money," says Lapin. Ultimately the corporation would be controlled by its 9,598 private...
Auction in Reverse. Now, Lapin expects to free Fannie Mae from such problems. Instead of buying (and selling) loans at a preset-and infrequently changed-discount, it will hold a weekly auction in reverse. Bidders will not be buying, but competing for the right to sell Fannie Mae loans at some future time. Thus the private market will set the price, or discount, while FNMA controls the volume of its business probably $40 to $50 million a week.' For loans on new or used houses, the association will accept bids to deliver mortgages within either three or six months...
...Since 1954, FNMA has required lenders who sell it loans to buy common stock as a condition of each transaction. Under current rules, lenders must buy stock (at book value of $130 per share) equal to 1% of the loans they sell. Fannie Mae's is the only stock of a Government corporation traded on the private market...