Skip to: Content
Skip to: Site Navigation
Skip to: Search
SATURDAY, NOVEMBER 21, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: Fannie Mae

Fannie Mae stories: 125 news summaries

1 - 20 of 125 Stories | 1 2 3 4 5 ... 7 Next >>

Switch to grid view »

Goldman Deal May Bail Out Fannie Mae

But letting superbank load up on tax credits could be politically toxic

Nov 2, 09 9:12 AM CST
(Newser) - Goldman Sachs wants to buy millions in otherwise virtually worthless tax credits from Fannie Mae, but the mega-bank is so politically toxic right now that the Obama administration is considering blocking the deal, the Wall Street Journal reports. “Treasury is reviewing and will not let it proceed unless... More »

MORE ABOUT:
Goldman Sachs • Fannie Mae • Treasury Department • tax credit • bailout

The Next Mortgage Lender Bailout: The FHA

Critics think fallback agency will need a rescue in next couple of years

Oct 9, 09 8:38 AM CDT
(Newser) - Another mortgage lender specializing in low income borrowers is in trouble: the Federal Housing Administration. The agency which oversees Fannie Mae and Freddie Mac could soon share their fate, as borrowers default on the low-downpayment mortgages it insures, critics told a House subcommittee yesterday. “It appears destined for a... More »

MORE ABOUT:
mortgage • Freddie Mac • Fannie Mae • Federal Housing Administration • mortgage backed securities • mortgage insurance

MARKETS

 Rally Loses Steam; Dow Off 32 

Freddie Mac sees shares rise 122% on earnings

Aug 10, 09 3:26 PM CDT
(Newser) - Stocks wavered on the heels of last week’s rally, closing slightly lower as investors wait for comments from the Fed, the Wall Street Journal reports. Federal Reserve policy makers will conclude a 2-day meeting on Wednesday and perhaps issue a new assessment of the economic recovery. Despite a broad... More »

MORE ABOUT:
Federal Reserve • Dow Jones • Nasdaq • Freddie Mac • Fannie Mae • S&P 500

(Newser) - The White House’s National Economic Council will meet today to discuss a drastic overhaul of beleaguered nationalized mortgage dealers Fannie Mae and Freddie Mac, the Washington Post reports. Among other proposals, officials are contemplating a “good bank, bad bank” split. Fannie and Freddie would dump their troubled... More »

MORE ABOUT:
mortgage • Freddie Mac • Fannie Mae • Treasury Department • financial crisis • bad bank • National Economic Council

Fannie Mae CEO Picked as Bailout Chief

Former Merrill Lynch prez to overhaul $700B TARP program

Apr 18, 09 6:45 AM CDT
(Newser) - Wall Street veteran and Fannie Mae CEO Herb Allison has been nominated to oversee the Treasury's $700 billion bank rescue, Bloomberg reports. If confirmed by Congress—where he's likely to be grilled on his defending of bonuses at Fannie—Allison will be tasked with deploying the second phase of the... More »

MORE ABOUT:
Fannie Mae • Treasury Department • bailout • financial crisis • TARP • Herb Allison

(Newser) - The country’s top lenders are slowly implementing the Obama administration’s plan to help otherwise ineligible borrowers to refinance their mortgages at the current bargain-basement rates, the Wall Street Journal reports. The program is open to those with mortgages owned by Freddie Mac or Fannie Mae who are... More »

MORE ABOUT:
housing market • mortgage • Freddie Mac • Fannie Mae • mortgage rates • refinanced mortgages • Obama administration

(Newser) - Fannie Mae and Freddie Mac expect to pay roughly $210 million in retention bonuses over the next 18 months, reports the Wall Street Journal. Some 7,600 employees are slated to get bonuses, in some cases totaling as much as $1.5 million, in a program that has drawn... More »

MORE ABOUT:
executive compensation • Freddie Mac • Charles Grassley • Fannie Mae • bonuses • Barney Frank • Federal Housing Finance Agency • executive bonuses

(Newser) - Executives at government-owned mortgage giants Fannie Mae and Freddie Mac are scheduled to receive six-figure retention bonuses, but Barney Frank wants the payments canceled, MarketWatch reports. “In this troubled economy, and in this job market, it is difficult to imagine that the companies would not be able to find... More »

MORE ABOUT:
mortgage • Freddie Mac • Fannie Mae • bonuses • Barney Frank • bailout • financial crisis • financial meltdown

Fannie Mae's Task: Sell 65K Homes in Buyer's Market

Unloading homes quickly while maintaining value, Fannie walks tightrope

Mar 19, 09 9:38 AM CDT
(Newser) - It’s no secret that for US homeowners, it’s not a seller’s market. But imagine having 65,000 properties to sell. That’s the task ahead of Fannie Mae, NPR reports, as its volume of repossessed homes grows by the day. The guarantor of a third of all... More »

MORE ABOUT:
housing market • foreclosure • housing • Fannie Mae • home prices • housing sales • repossessions • financial crisis

(AP) - Freddie Mac said today it will ask the government for nearly $31 billion in additional aid after posting a gargantuan loss of more than $50 billion last year as the US housing market worsened. The mortgage finance company posted a loss of $23.9 billion, or $7.37 per share,... More »

MORE ABOUT:
mortgage • Fannie Mae • credit crisis • housing crisis

Obama Housing Rescue Plan Leaves Many Out in Cold

Criteria keep many who need help from refinancing under the plan

Mar 5, 09 8:40 AM CST
(Newser) - A large swath of Americans will see no help under the Obama administration’s housing rescue plan, the New York Times reports. While designed to prevent 3 million to 4 million foreclosures through loan modifications, the plan doesn't cover those whose loans aren’t backed by Fannie Mae or Freddie... More »

MORE ABOUT:
housing market • foreclosure • Freddie Mac • Fannie Mae • mortgage debt • mortgage lender • underwater • mortgage defaults • Obama administration • financial crisis • President Obama

(Newser) - Fannie Mae received $15 billion from Uncle Sam last night after reporting a $25.2 billion fourth-quarter loss, the Washington Post reports. The loss, caused mostly by sinking mortgage-related investments, brought the company’s 2008 losses to $59 billion. This marks the first time Fannie has dipped into its potential... More »

MORE ABOUT:
earnings reports • corporate earnings • Fannie Mae • GSE

Freddie Mac to Let People Stay in Foreclosed Houses

Rental program aims
to stop evictions

Jan 30, 09 2:44 AM CST
(Newser) - Freddie Mac has forged a first-of-its-kind plan to allow homeowners and tenants to remain in foreclosed homes, USA Today reports. Residents will be charged a market rental rate on leases renewable monthly after their homes have been acquired by the lender. Freddie Mac expects the program to save thousands of... More »

MORE ABOUT:
foreclosure • mortgage • rent • Freddie Mac • Fannie Mae • eviction • homeowners

Fannie Mae Engineer Indicted for Planting Crippling Code

Trap that could have caused millions in damage found after man was fired but before it activated

Jan 29, 09 4:30 PM CST
(Newser) - A former Fannie Mae contract worker was indicted Tuesday on a count of computer sabotage for planting malicious code that would have crippled the mortgage giant’s network of 4,000 servers for at least a week, Wired reports. Rajendrasinh Babubha Makwana crafted the malware the same day he was... More »

MORE ABOUT:
cyberattack • computer virus • Fannie Mae • mortgage lender • logic bomb • disgrunt;ed employee

30-Year Mortgage Rates
Fall to Record Low 5.01%

Fed buys $10.2B in agency mortgage bonds

Jan 8, 09 5:08 PM CST
(Newser) - Interest rates on 30-year fixed mortgages fell to a record low 5.01% this week, Bloomberg reports. The drop—the 10th weekly fall in a row—comes as the Federal Reserve purchased $10.2 billion of mortgage-backed securities from Fannie Mae, Freddie Mac, and Ginnie Mae as part of a... More »

MORE ABOUT:
Federal Reserve • Freddie Mac • Fannie Mae • mortgage rates • interest rate • bond market • securities • mortgage backed securities

Glossies

 Don't Blame Fannie for Mess 



Wall Street, banks, and government also at fault

Jan 5, 09 9:11 AM CST
(Newser) - Fannie Mae and Freddie Mac, the "toxic twin" housing financing behemoths blamed for setting the world on fire, were not operating any differently than the entire financial sector, Bethany McLean writes in Vanity Fair. McLean documents Fannie Mae's history starting from conception in FDR's New Deal, when it was... More »

MORE ABOUT:
recession • takeover • Freddie Mac • Fannie Mae • housing crisis • subprime crisis • financial crisis • Federal Housing Finance Agency

 Fannie Mae: Tenants Can Stay 

Fannie Mae won't evict tenants after  foreclosures

Dec 15, 08 4:22 AM CST
(Newser) - Fannie Mae is offering to sign new leases with renters living in properties that have been foreclosed and are now owned by the the government-controlled mortgage company. The move brings relief to thousands of people caught in the mortgage crisis, but it turns the insitution into a huge national landlord... More »

MORE ABOUT:
Bank of America • subprime mortgages • foreclosure • Freddie Mac • Fannie Mae • mortgage defaults • JPMorgan Chase • evictions • tenants • renters • National Community Reinvestment Coalition • Federal Housing Finance Agency

Fannie, Freddie Brushed Off Subprime Warnings

Companies ignored risk experts for years

Dec 9, 08 8:36 AM CST
(Newser) - Fannie Mae and Freddie Mac can’t say they weren’t warned. Internal documents obtained by the Washington Post show that both companies had internal factions who stressed the dangers of subprime mortgages several years ago. At Freddie Mac, the former chief enterprise risk officer wrote that the loans could... More »

MORE ABOUT:
subprime mortgages • Freddie Mac • Fannie Mae • Richard Syron • subprime crisis • House Committee on Oversight and Government Reform • Daniel Mudd

(Newser) - Reverse mortgages—which allow older homeowners to borrow against their equity without paying it back, as long as they live in the home—have risen in popularity since the federal government raised the limit on borrowing, the Seattle Times reports. The old ceiling for owners 62 and up was about... More »

MORE ABOUT:
Fannie Mae • FHA • reverse mortgage

Treasury May Lower
Mortgage Rates to 4.5%

Rates could go as low as 4.5% to curb falling home prices

Dec 3, 08 4:36 PM CST
(Newser) - The Treasury may try to bring new mortgage rates down to 4.5%—a full percentage point lower than current rates—to revitalize the housing market, the Wall Street Journal reports. Under the proposal, which is still in the early stages, the department would use Fannie Mae and Freddie Mac... More »

MORE ABOUT:
housing market • Freddie Mac • home loans • Fannie Mae • Treasury Department • subprime crisis

1 - 20 of 125 Stories | 1 2 3 4 5 ... 7 Next >>


from our news partners