Law & Health Weekly
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Annaly Capital Management, Inc.
Annaly Capital Management Comments on the Impact and Advisability of the Homeowner Affordability and Stability Plan
March 14th, 2009
The Homeowner Affordability and Stability Plan (HASP), a cornerstone of President Obama’s “broad, comprehensive strategy to get the economy back on track,” was unveiled on February 18 to much fanfare and debate. The plan focuses on the current environment mostly from the perspective of homeowners (more specifically, mortgage borrowers). On the advisability of the HASP, we paraphrase Tennyson: ours is not to reason why, ours is but to analyze prepayment risk. While we have an opinion on whether the HASP is a good idea, opinions don’t matter all that much. To date, we haven’t weighed in on the matter of the large scale efforts to drive down mortgage rates or propel the...
Source: Law & Health Weekly (2009-03-14)
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