Feeds
A new federal program to support state and local housing finance agencies is expected to involve more than $29 billion in government support, Fannie Mae and Freddie Mac disclosed Thursday.
Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday.
Among the earnings stories for Friday, Nov. 6, from AP Financial News:
Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Corporate directors don't like it when shareholders accuse them of being management cronies, but how else can they be seen when they drop the ball on basic responsibilities like leadership development and executive pay?
Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday.
Freddie Mac's new chief financial officer, lured from the banking industry this month, is receiving a pay package worth up to $5.5 million.
Freddie Mac said Tuesday it has named a new chief financial officer, filling a post that has been occupied on an interim basis for a year.
A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government.
Investors are still trading common shares of Fannie Mae, Freddie Mac and American International Group Inc. by the billions, even though analysts say their prices are almost certain to go to zero.
Rates for 30-year home loans edged up this week, but remain close to record lows reached over the spring.
Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future.
Rates on 30-year mortgages dipped this week after economic reports came in better than expected, Freddie Mac said Thursday.
The federal agency that regulates Fannie Mae and Freddie Mac named Thursday an interim replacement for its director, who is stepping down at the end of the month.
The head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac is planning to step down by the end of the month.
House Financial Services Chairman Barney Frank is defending Democrats' oversight of struggling mortgage buyers Fannie Mae and Freddie Mac.
Charles "Ed" Haldeman Jr., a former mutual fund executive, will take the helm of Freddie Mac next month, the mortgage finance company said Tuesday.
Rates for 30-year home loans dropped for the third-straight week, inching toward a record low reached earlier this year, Freddie Mac said Thursday.
Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said Thursday.
Mortgage giant Freddie Mac is looking for $6.1 billion in additional government aid as the cost to taxpayers from the housing market bust keeps growing.
Rates on 30-year fixed mortgages rose slightly for the second straight week, but still remained below 5 percent, Freddie Mac said Thursday.
Every week, mortgage finance giant Freddie Mac releases average rates on four types of home loans, including 30-year fixed rate mortgages — the most popular type of loan for home buyers.
Freddie Mac is paying out more than $700,000 to the family of David Kellermann, the mortgage finance company's former acting chief financial officer who died last week in an apparent suicide, the company disclosed Thursday.
An outside investigator early last year told regulators that Freddie Mac failed to properly document interest rate bets, but the government didn't challenge the mortgage finance company's accounting practices.
Baiting the DebateI recently received an email from my Congressman asking my opinion concerning an issue that has arisen from the debate over ObamaCare.
Fannie and Freddie Continue to Struggle, Lawmakers Told In the year since the government stepped in to rescue the collapsing mortgage giants Fannie Mae and Freddie Mac, the agencies have taken $96 billion from the Treasury, and may still need more.
Freddie Mac hands out big bonus to new CFO | footnoted.orgFreddie Mac is still living off of the taxpayers, yet they were able to hire a new CEO with a tremendous package (that they tried to downplay): $3.5 million/year plus a $2 million signing bonus, buyout of his house(s), and reimbursement for his travel between Washington DC and hi …
Rates for 30-year Loans DropHomeowners with 30-year loans (and looking to refinance) have been seeing some good news this past month concerning loan rates. For the past three weeks in a row now, rates for 30-year home loans have dropped to 5.04 percent.
Obama warns Wall Street not to block tighter regsNEW YORK (AP) - Lecturing Wall Street on its own turf, President Barack Obama warned financial leaders not to use the recovering economy to race back into "reckless behavior" that could cause a new meltdown. He declared that a bailout-weary public will not break their fall again.
Lessons Unlearned By Investor's Business Daily Regulation-- A year after Lehman Bros. went bankrupt, Washington plans sweeping new reforms of the financial markets. Based on what's been revealed so far, our leaders have learned nothing from that crisis.
Industry Seeks Fannie, Freddie Overhaul "A mortgage-industry trade group is calling for Congress to transform Fannie Mae and Freddie Mac into several smaller privately held companies that would issue mortgage securities carrying an explicit government guarantee.
Wall Street Journal Wants To Add $5 Trillion To The Federal Debt With Nonsensical Accountingexcerpt:."" .... along comes the Wall Street Journal's editorial board, claiming that the federal government should add $5 trillion to the national debt by accounting for the possible liabilities of Fannie Mae and Freddie Mac.....""
Freddie Mac Releases Second Quarter 2009 Financial Results - News Archive - Freddie MacNet income for the second quarter of 2009 was $768 million. After the dividend payment of $1.1 billion to the U.S. Department of the Treasury on the senior preferred stock, net loss per diluted common share was $0.11 for the quarter.
Fannie & Freddie: The most expensive bailoutFannie and Freddie, the two horses of the democratic inspired real estate debacle, are costing the nation several times more than our dear democratic leaders estimated.
Congressman Barney Frank in an Interview with John Stewart on the Daily Show last night said he had opposed using Fannie Mae and Freddie mac as vehicle for home ownership for low income buyers.
Hold Onto Your Handbag, HoneyHold onto your handbag, Honey- the stock market looks like it's gonna take us for a ride. Fluctuations are one thing; you can expect those. Wild gyrations say something was not accounted for. And just limping along shows absolutely no direction.
Two Democratic Lawmakers Urge Fannie and Freddie To Relax Mortgage Standards On Condos. What Could Possibly Go Wrong?Two Democratic lawmakers are calling on Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery.
Disappearing Bush: WSJ falsely suggests Obama admin. took over Fannie, Freddie, AIGA Wall Street Journal article falsely suggested that the Obama administration's policies resulted in the government takeovers of Fannie Mae, Freddie Mac, and AIG. In fact, the Bush administration took over those institutions in September 2008.
Fannie Loses $23 Billion, Prompting Even Bigger BailoutFannie Mae reported yesterday that it lost $23.2 billion in the first three months of the year as mortgage defaults increasingly spread from risky loans to the far-larger portfolio of loans to borrowers who have been considered safe.
Forget Tea Parties. Bring a Pitchfork to a Shareholder Meeting."Succored by government, America's business and financial elites have assumed a pervasive ethic of entitlement – and suckered the rest of us. Their "innovations" triggered a massive redistribution of wealth – upward."
SC Court Halts Home ForeclosuresSouth Carolina's highest court on Tuesday temporarily stopped thousands of pending foreclosure sales in the state to give homeowners more time to take advantage of a new federal program to help them refinance mortgages.
Freddie Mac CFO told to take time offA follow-up on the suicide of Freddie Mac's CFO, David Kellermann
Freddie Mac Chief David Kellerman Commits SuicideNEW YORK (WCBS 880 / AP) -- Farifax, VA police tell CBS TV affiliate WUSA in Washington DC the acting head of Freddie Mac, David Kellerman, has committed suicide.
Freddie Mac Official Dead in Apparent Suicide - washingtonpost.comThe acting chief financial officer of troubled mortgage giant Freddie Mac was found dead in his Fairfax County home early this morning after an apparent suicide, according to Fairfax police.
Police investigating death of Freddie Mac officialActing chief financial officer apparently commits suicide.
Acting head of Freddie Mac commits suicideThe acting head of Freddie Mac, David Kellermann, has apparently committed suicide, Fairfax County Police tell WTOP. Fairfax County Police spokeswoman Mary Anne Jennings says Kellermann, 41, was found at his Hunter Mill estates home Wednesday morning.
Freddie Mac Executive Found DeadWASHINGTON (AP) — Media reports on Wednesday said that the acting chief financial officer of Freddie Mac has been found dead in an apparent suicide.
Confessions of a Money Manager: One reason housing is weak - Fannie MaeWhen I visited the local Wells Fargo branch bank in Madison to inquire about re-financing at a lower rate and hopefully avoiding large closing costs, the loan officer told me that he would have to check with Fannie Mae to see if these closing costs could be waived.
Log In | Register
