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September 6, 2008 2:55:06 AM CDT

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Stories related to: Freddie Mac

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  • July 2008

    • House Passes Huge Housing Rescue Bill

      The Hill  |  Jul 23, 08 5:34 PM CDT

      House Passes Huge Housing Rescue Bill

      (Newser) - The House today approved a massive bill to provide relief for struggling homeowners, communities hit hard by the housing crisis, and mortgage giants Fannie Mae and Freddie Mac, the Hill reports. The bill passed 272-152 hours after President Bush switched course and said he would not veto it. The measure is expected to clear the Senate by the end of the week. More »

      Tags

      housing crisis  • House of Representatives  • Fannie Mae  • Freddie Mac  • bailout  • mortgages

    • Mixed News Keeps Gains Slim

      Wall Street Journal  |  Jul 23, 08 3:15 PM CDT

      Mixed News Keeps Gains Slim

      (Newser) - The markets pared earlier gains to end just slightly positive today, amid mixed earnings reports and a gloomy-but-expected Federal Reserve data on the US economy, the Wall Street Journal reports. The Dow gained 29.88, closing at 11,632.38. The Nasdaq gained 21.92, settling at 2,325.88, while the S&P 500 fell 5.19 to 1,282.19. More »

      Tags

      Federal Reserve  • S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Fannie Mae  • Freddie Mac  • AT&T  • Pfizer  • Beige Book

    • In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      Wall Street Journal  |  Jul 23, 08 11:54 AM CDT

      In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      (Newser) - President Bush will support a housing package being considered in the Senate, the Wall Street Journal reports. Bush threatened to veto the bill, which includes as much as $300 billion of insurance for Fannie Mae and Freddie Mac, but decided, given market turmoil, that now “is not the time for a prolonged veto fight” press secretary Dana Perino said today. More »

      Tags

      George W. Bush  • Bush administration  • housing market  • Henry Paulson  • Fannie Mae  • Freddie Mac  • housing legislation

    • Mortgage Rates Surge to 5-Year High

      New York Times  |  Jul 23, 08 7:40 AM CDT

      Mortgage Rates Surge to 5-Year High

      (Newser) - Mortgage rates rose yesterday to a 5-year high of 6.71% as investors worried that—even with government intervention—Fannie Mae and Freddie Mac wouldn’t play as big a role in the $12 trillion US mortgage market as in the past, reports the New York Times . The rising rates threaten to further depress the struggling housing market. More »

      Tags

      Fannie Mae  • Freddie Mac  • mortgage backed securities  • mortgage rates  • mortgages

    • Tab for Fannie, Freddie Bailout Pegged at $25B

      MarketWatch  |  Jul 22, 08 12:39 PM CDT

      Tab for Fannie, Freddie Bailout Pegged at $25B

      (Newser) - A federal bailout of Fannie Mae and Freddie Mac will cost $25 billion, the Congressional Budget Office said today, but there’s a better than 50% chance no rescue will be needed. The plan sought by Treasury Secretary Henry Paulson would extend an unlimited line of credit to the government-sponsored enterprises for the next 18 months, MarketWatch reports. More »

    • Economic Recovery to Take Months: Paulson

      Reuters  |  Jul 20, 08 5:42 PM CDT

      Economic Recovery to Take Months: Paulson

      (Newser) - Henry Paulson sought to reassure Americans today that US banking is "sound" despite a growing list of troubled banks, Reuters reports. He also said the economy will stay slow for months, but expressed confidence that Congress will shore up Fannie Mae and Freddie Mac before summer recess. "Congress understands how important these institutions are," he said on Face the Nation . More »

      Tags

      mortgage crisis  • Henry Paulson  • Fannie Mae  • Freddie Mac  • banking  • mortgage debt  • IndyMac

    • Freddie Eyes Selling $10B in Shares to Stave Off Bailout

      Wall Street Journal  |  Jul 18, 08 6:53 AM CDT

      Freddie Eyes Selling $10B in Shares to Stave Off Bailout

      (Newser) - Freddie Mac is considering issuing $10 billion worth of new common and preferred shares, the Wall Street Journal reports, a move that might stave off a full-blown government rescue—and the increased scrutiny that would come with it. Freddie has been emboldened by two days of big gains, with shares levitating  over 29% on Wednesday and another 22% yesterday. More »

      Tags

      Freddie Mac  • shares  • bailout  • stock offering

    • Stocks Continue Strong Rally

      Wall Street Journal  |  Jul 17, 08 3:35 PM CDT

      Stocks Continue Strong Rally

      (Newser) - The markets continued yesterday’s rally as oil kept falling—hitting a low of $131 a barrel for the first time in 6 weeks—and traders bought up financial shares with renewed confidence, the Wall Street Journal reports. The Dow gained 207.38 points to close at 11,446.66; its 484-point jump since yesterday is the best two-day gain since November. The Nasdaq rose 27.45 to 2,312.30, and the S&P 500 climbed 14.96 to 1,260.31. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • Fannie Mae  • Freddie Mac  • oil prices

    • Markets Surge on Oil, Financials

      Wall Street Journal  |  Jul 16, 08 3:27 PM CDT

      Markets Surge on Oil, Financials

      (Newser) - The markets rallied big today, as the price of oil fell for a second day and financials regained some of the ground lost in recent chaotic sessions, the Wall Street Journal reports. The Dow gained 276.74 to go back over the 11,000 mark, at 11,239.28. The Nasdaq rose 69.14, settling at 2,284.85, and the S&P 500 gained 30.45, closing at 1,245.36. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • Fannie Mae  • Freddie Mac  • oil prices  • financial stocks  • Wells Fargo

    • Ex-Fannie Mae Chief: Don't Bail 'Em Out

      Washington Post  |  Jul 16, 08 8:53 AM CDT

      Ex-Fannie Mae Chief: Don't Bail 'Em Out

      (Newser) - Coherent policy from Washington—not a financial bailout—is what mortgage titans Fannie Mae and Freddie Mac are most in need of, writes former Fannie chief Franklin Raines in the Washington Post . “They have more than enough capital to meet their cash obligations,” he writes, as well as billions in assets. He accuses the White House of a  "multiyear effort to eliminate the companies by talking them down to the financial markets," and says they'll do fine, without subsidies, if they are given "unfettered access to the private markets." More »

      Tags

      Fannie Mae  • Freddie Mac  • mortgage lender

    • Dow Sinks Below 11K

      MarketWatch  |  Jul 15, 08 3:34 PM CDT

      Dow Sinks Below 11K

      (Newser) - The markets ended mixed today after a seesaw session. An $8 decline in crude encouraged investors, but concerns about the fate of the mortgage GSEs and regional banks persisted, MarketWatch reports. The Dow ended down 93.39 at 10,961.80, the first time in over 2 years the average has closed below 11,000. The Nasdaq gained 2.84 to close at 2,215.71, and the S&P 500 fell 13.39 to 1,214.91. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • General Motors  • Fannie Mae  • Freddie Mac  • oil prices

    • 'No Immediate Plans' to Prop Up Freddie/Fannie: Paulson

      Bloomberg  |  Jul 15, 08 1:08 PM CDT

      'No Immediate Plans' to Prop Up Freddie/Fannie: Paulson

      (Newser) - The US government won't be lending capital to Fannie Mae and Freddie Mac in the near future, Treasury Secretary Henry Paulson told a Senate committee today. "There are no immediate plans to access either the proposed liquidity or the proposed capital backstop,'' Paulson said, and any lending to the mortgage giants would be done "under terms and conditions that protect the US taxpayer," Bloomberg reports. More »

      Tags

      George W. Bush  • Federal Reserve  • Ben Bernanke  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Senate Banking Committee

    • Paulson's Imprimateur on Freddie/Fannie Rescue

      Wall Street Journal  |  Jul 15, 08 9:16 AM CDT

      Paulson's Imprimateur on Freddie/Fannie Rescue

      (Newser) - Henry Paulson had a very busy weekend. The treasury secretary had been formulating contingency plans for bailing out beleaguered Fannie Mae and Freddie Mac for weeks, but Friday’s crisis came before those plans were in place, the Wall Street Journal reports in a reconstruction of events leading to the rescue, culminating in the frenzied weekend scramble to negotiate the particulars with the Fed and Congress. More »

      Tags

      Federal Reserve  • economy  • Ben Bernanke  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • bailout

    • Financials Nudge Markets Down

      MarketWatch  |  Jul 14, 08 3:31 PM CDT

      Financials Nudge Markets Down

      (Newser) - The markets saw modest losses today, erasing an early-session rally spurred by the announcement of a government bailout plan for Freddie Mac and Fannie Mae as investors mulled the ramifications of a government rescue, MarketWatch reports. The Dow fell 45.35 points, closing at 11,055.19. The Nasdaq shed 26.21, closing at 2,212.87, and the S&P 500 lost 11.19, to close at 1,228.30. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Fannie Mae  • Freddie Mac  • government backing

    • Fierce Lobbying Deflected Warnings on Fannie, Freddie

      Washington Post  |  Jul 14, 08 1:44 PM CDT

      Fierce Lobbying Deflected Warnings on Fannie, Freddie

      (Newser) - For years, critics have warned that Fannie Mae and Freddie Mac’s special status as government-sponsored enterprises allowed them to shoulder risk far beyond their minimal capitalization requirements, the Washington Post reports. The firms have used their unique position in the financial system, and high-intensity lobbying efforts, to quash any attempt at stricter regulation. More »

      Tags

      credit crisis  • Fannie Mae  • Freddie Mac  • investors  • regulation  • Alan Greenspan

    • Fannie/Freddie: It's Bad, but It Could Be Worse

      New York Times  |  Jul 14, 08 8:32 AM CDT

      Fannie/Freddie: It's Bad, but It Could Be Worse

      (Newser) - The government's move to shore up Fannie Mae and Freddie Mac has led to new fears about the state of the American economy—but don't worry too much, writes Paul Krugman in the New York Times . Fannie and Freddie are problematic institutions, but compared to the actions of big banks who bought up repackaged subprime mortgages, the two mortgage giants have been relatively prudent. More »

      Tags

      subprime mortgages  • economy  • mortgage  • Fannie Mae  • Freddie Mac  • regulation

    • Washington Seeks Rescue of Freddie and Fannie

      New York Times  |  Jul 13, 08 5:48 PM CDT

      Washington Seeks Rescue of Freddie and Fannie

      (Newser) - After a frenzied week that saw Fannie Mae and Freddie Mac teeter near collapse, the US Treasury and Federal Reserve are seeking to save the nation's two largest mortgage finance companies. Officials say that the plan, if approved by Congress, will let the government buy billions of dollars in Freddie and Fannie stock and lend them money to cover short-term needs, the New York Times reports. More »

      Tags

      economy  • mortgage  • Fannie Mae  • Freddie Mac  • rescue package

    • Fannie, Freddie Edge Back From the Brink

      Wall Street Journal  |  Jul 12, 08 7:11 AM CDT

      Fannie, Freddie Edge Back From the Brink

      (Newser) - Fears of a collapse of Fannie Mae or Freddie Mac finally eased yesterday after a stomach-churning rollercoaster ride that saw a 50% nosedive for the mortgage giants in early trading, writes the Wall Street Journal . A week of panic, prompted in part by reports that the government was preparing rescue scenarios, seem to have abated, as Fannie and Freddie were able to continue their regular borrowing. But a bigger test looms Monday when Freddie is due to sell $3 billion of short-term debt. More »

      Tags

      Wall Street  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • credit market  • markets  • bailout

    • Mortgage Worries Stalk Stocks

      Wall Street Journal  |  Jul 11, 08 3:49 PM CDT

      Mortgage Worries Stalk Stocks

      (Newser) - The markets saw losses today, battered by continued worries over the solvency of mortgage guarantors Fannie Mae and Freddie Mac and a fresh spike in crude prices, MarketWatch reports. The Dow fell 128.48, to 11,100.54. The Nasdaq shed 18.77, closing at 2,239.08, while the S&P 500 lost 13.90 to close at 1,239.49. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • Henry Paulson  • Fannie Mae  • Freddie Mac

    • Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      Associated Press  |  Jul 11, 08 9:56 AM CDT

      Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      (AP) - Stocks tumbled this morning as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory. The Dow fell more than 170 points and neared the 11,000 mark for the first time in two years. Investors seemed unimpressed by a statement from Treasury Secretary Henry Paulson, who said the government's focus is ensuring that Fannie and Freddie remain as presently constituted to carry out their mission. More »

      Tags

      stocks  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Dow

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