(Reuters) – The regulator of Fannie Mae and Freddie Mac on Wednesday said he sees better quality on new home loans backed by the two companies, which were at the center of a U.S. housing crisis that drove the world into recession.
“We’ve seen a significant improvement in the quality of new business as a result [...]
(Reuters) – Faced with a lose-lose proposition, Congress put off its decision on the fate of mortgage finance companies Fannie Mae and Freddie Mac, perhaps hoping the housing market recovers before losses get too big.
The financial regulatory overhaul, approved by Congress on Thursday, steered clear of reorganizing the government sponsored enterprises — companies at the [...]
Reuters – Republicans should not use problems at mortgage finance giants Fannie Mae and Freddie Mac as an excuse to vote against sweeping changes to the rules of Wall Street, White House spokesman Robert Gibbs said on Sunday. ”We are going to reform Fannie Mae and Freddie Mac,” Gibbs said on NBC’s Meet the Press.
The Senate [...]
(Reuters) – Fannie Mae (FNM.N), the largest buyer of U.S. home loans, on Thursday said its mortgage portfolio grew in April after it reduced the March rate of serious delinquencies on single-family loans it guarantees.
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(Reuters) – Republicans in the House of Representatives on Friday recommended the country’s top two mortgage finance companies, the recipients of a massive government bailout during the height of the financial crisis, be phased out in four years in order to restore stability to the housing market.
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House Financial Services Chairman Barney Frank on Friday said he agrees with the Obama administration’s decision to fully back Fannie Mae and Freddie Mac bondholders to provide stability to the housing market and broader financial system.
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WASHINGTON (Reuters) – An Obama administration program aimed at helping homeowners whose homes have declined in value get new loans has been extended another year, a key housing regulator said on Monday. The Home Affordable Refinance Program, or HARP, a sister program to President Barack Obama’s loan modification effort, will stay in effect through June [...]
NEW YORK (Reuters) – Two key Republicans are urging the House of Representatives to speed up a public hearing to investigate the administration’s bailout of home funding giants Fannie Mae and Freddie Mac.
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At a hearing last fall, U.S. Treasury Secretary Timothy Geithner told lawmakers that he and his team were working to put the $700 billion financial bailout fund “out of its misery.” But some in Washington now see a second, backdoor bailout in its place.
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Mortgage finance companies Fannie Mae and Freddie Mac said on Friday the companies have regained compliance with the New York Stock Exchange’s requirements for continued listing of their common stock, somewhat reviving their respectability among investors.
Stocks soared on the news, with Fannie Mae gaining 9.15 percent to $1.79 shortly after the open, and Freddie Mac rising 7.5 percent at [...]
It’s careful, it’s complicated, it’s got a catchy name, and it’s first.
At face value, that’s what I see in the Mortgage Bankers Association’s proposal to formulate a new, government-guaranteed, mortgage backed securities market to take the place of Fannie Mae and Freddie Mac.
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Yes the bank crisis over the last few weeks led to the Freddie / Fannie failure. Yes this should lead to lower mortgage rages – and in fact they have dropped over the last 2 weeks. But will your ability to gain a loan increase?
Freddie and Fannie bailout… yes we will see tougher market conditions to obtain a mortgage, but we will also see lower rates (estimates of a 1 point drop have been discussed)!
From CNN “Rescue Cost: The Big Unknown”
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