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October 10, 2008 10:09:51 PM CDT

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Stories related to: Fannie Mae

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  • August 2008

    • Fannie Misses Estimates, Slashes Dividend

      Bloomberg  |  Aug 8, 08 8:37 AM CDT

      Fannie Misses Estimates, Slashes Dividend

      (Newser) - Fannie Mae reported its fourth straight losing quarter today, Bloomberg reports, coming in $2.3 billion in the red and slashing its dividend. The $2.51-per-share loss far exceeded the 72-cent average predicted by analysts, much as Freddie Mac surprised investors two days ago. “Neither of these companies have properly provisioned for what we're heading into,” said one analyst. “This thing is going to get worse and last longer and deeper than they originally thought.” More »

    • Bad News Spurs Big Sell-Off

      Wall Street Journal  |  Aug 7, 08 3:25 PM CDT

      Bad News Spurs Big Sell-Off

      (Newser) - The markets suffered big losses today as investors were confronted by bad news from retail and financial giants, as well as a 6-year-high in weekly unemployment, the Wall Street Journal reports. The Dow fell 224.64to 11,431.43. The Nasdaq lost 22.64 to finish at 2,355.73, and the S&P 500 fell 23.12 to 1,266.07. More »

      Tags

      Financial Crisis  • Dow Jones  • Federal Reserve  • S&P 500  • Nasdaq  • Fannie Mae  • Freddie Mac  • Wal-Mart  • AIG

    • Freddie Has 4th-Straight Loss as 2nd Quarter Charges Rise

      Bloomberg  |  Aug 6, 08 7:15 AM CDT

      Freddie Has 4th-Straight Loss as 2nd Quarter Charges Rise

      (Newser) - Rising delinquencies and a still-skidding home market combined to make Freddie Mac’s second quarter losses three times worse than analysts predicted, reports Bloomberg . The government-backed mortgage enterprise lost $821 million, or $1.63, in the quarter, prompting it to also announce a third quarter slash in dividends from 25 cents to 5 cents a share. More »

      Tags

      Financial Crisis  • housing crisis  • subprime crisis  • Fannie Mae  • Freddie Mac  • corporate earnings

  • July 2008

    • Dow Plunges 239 Points

      MarketWatch  |  Jul 28, 08 3:39 PM CDT

      Dow Plunges 239 Points

      (Newser) - The markets plummeted today as worries over the economy and problems in the financial sector outweighed high spirits over the rescue plan for mortgage giants Fannie Mae and Freddie Mac, MarketWatch reports. The Dow plunged 239.61 to 11,131.08, the Nasdaq nosedived 46.31 to 2,264.22, and the S&P 500 fell 23.39 to 1,234.37. More »

      Tags

      Dow Jones  • stock market  • Fannie Mae  • Freddie Mac  • AIG  • Verizon  • Tyson Foods

    • Senate Passes Massive Housing Relief Bill

      Associated Press  |  Jul 26, 08 10:37 AM CDT

      Senate Passes Massive Housing Relief Bill

      (AP) - Congress has passed a housing rescue bill aimed at sparing 400,000 struggling homeowners from foreclosure. President Bush is expected to sign the measure quickly. The Senate passed the legislation by a 72-13 vote in a rare Saturday session. The measure lets homeowners who cannot afford their monthly payments refinance into more affordable government-backed loans rather than losing their homes. More »

      Tags

      Congress  • Senate  • housing crisis  • Fannie Mae  • Freddie Mac

    • On Mixed News, Modest Gains

      MarketWatch  |  Jul 25, 08 3:33 PM CDT

      On Mixed News, Modest Gains

      (Newser) - The Dow and S&P 500 seesawed to minor gains today amid mixed economic reports, MarketWatch reports. The Dow rose 21.41 to 11,370.69, the S&P 500 5.22 to 1,257.76. Bolstered by the relative insulation from the economic slump enjoyed by tech stocks , the Nasdaq gained 30.42 to close at 2,310.53. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • General Motors  • Fannie Mae  • Freddie Mac  • crude oil  • Amazon.com  • tech stocks  • durable goods  • Standard and Poor

    • A Believer in Hands-Off Now a Defender of Hands-On

      Los Angeles Times  |  Jul 25, 08 1:15 PM CDT

      A Believer in Hands-Off Now a Defender of Hands-On

      (Newser) - Treasury Secretary Henry Paulson is in the midst of a reluctant about-face of his economic principles. The Los Angeles Times looks at how Paulson—a former chief executive at Goldman Sachs with a long history of faith in laissez-faire capitalism—has had to become the point man for the Bush administration's decidedly hands-on approach to fixing the nation's economic troubles. More »

    • 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

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

      Dow Jones  • Federal Reserve  • S&P 500  • Nasdaq  • 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 »

    • 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