AP – GETTING MONEY BACK: A federal regulator is trying to recover some losses sustained by mortgage giants Fannie Mae and Freddie Mac on mortgage securities packaged and sold by Wall Street firms.
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AP – A federal regulator is taking steps that could lead to the recovery of some losses sustained by mortgage giants Fannie Mae and Freddie Mac.
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BusinessWeek – As the White House pushed for a Wall Street overhaul this year, Republicans hammered Democrats for ignoring two of the biggest problems in American finance: Fannie Mae (fnm.) and Freddie Mac (fre.). The government-backed mortgage giants have cost taxpayers $145 billion and counting. Now, with work on the 2,300-page financial-regulation bill all but complete, the Obama Administration will soon turn to revamping the pair of institutions that own more than half the nation’s $11 trillion in residential mortgages. The political struggle could be long and bitter.
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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.
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AP – Shares of Fannie Mae and Freddie Mac will begin trading over-the-counter Thursday, nearly a month after the government-sponsored mortgage buyers said they could no longer meet the requirements of companies listed on the New York Stock Exchange.
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AP – In a June 23 story about a new policy from Fannie Mae regarding homeowners who walk away from mortgages, The Associated Press erroneously gave two conflicting prices for Fannie Mae stock. The company’s stock closed trading Wednesday at 41 cents, down 1 cent, not unchanged at 48 cents. That was the closing stock price for fellow government-sponsored mortgage buyer Freddie Mac.
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AP – In a June 23 story about a new policy from Fannie Mae regarding homeowners who walk away from mortgages, The Associated Press erroneously gave two conflicting prices for Fannie Mae stock. The company’s stock closed trading Wednesday at 41 cents, down 1 cent, not unchanged at 48 cents. That was the closing stock price for fellow government-sponsored mortgage buyer Freddie Mac.
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AP – In a June 23 story about a new policy from Fannie Mae regarding homeowners who walk away from mortgages, The Associated Press erroneously gave two conflicting prices for Fannie Mae stock. The company’s stock closed trading Wednesday at 41 cents, down 1 cent, not unchanged at 48 cents. That was the closing stock price for fellow government-sponsored mortgage buyer Freddie Mac.
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AP – Government-sponsored mortgage purchaser Fannie Mae is trying to encourage distressed homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for seven years.
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AP – Government-sponsored mortgage purchaser Fannie Mae is trying to encourage distressed homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for seven years.
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