House GOP calls for Fannie, Freddie phase out

2010-03-19T13:46:01Z

<div><p>WASHINGTON (Reuters) - Republicans in the House of Representatives on Friday recommended the country's top two mortgage finance companies, the recipients of a massive government bailout during the height of the financial crisis, be phased out in four...

Fed's Bernanke sees U.S. backing Fannie, Freddie debt

2010-03-17T15:16:01Z

<div><p>WASHINGTON (Reuters) - Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Reuters) - Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a "setback" in home sales, and warned on its impact on the economic recovery.</p><p>Fannie Mae <FNM.N> also cut...

Fannie Mae to offer $6b in notes

2010-03-11T13:01:09Z

<div id="subtitle">Fannie Mae to offer $6 billion of benchmark 3-year notes</div><div><p>Fannie Mae on Thursday said it will offer $6 billion of new 3-year notes due May 7, 2013.</p><p>The offering was first announced Wednesday without specifics.</p><p>The notes were priced at $99.839 and will yield 1.803 percent each May 7 and November 7.</p><p>The settlement date for the offering is ...

Geithner urges reform on housing finance market

2010-03-10T15:15:49Z

<div><p>WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that "fundamental reform" of the government's role in the housing finance market is needed and it will be next year before proposals are ready for Congress.</p><p>He told a Ho...

Bailed-out U.S. financial stocks surge

2010-03-09T15:45:17Z

<div><p>NEW YORK (Reuters) - The shares of companies bailed out by the U.S. government during the financial crisis surged on Tuesday, fueled by speculation about money-making asset sales, cheap valuations and a recovery.</p><p>Citigroup Inc <C.N> stock rose as much as 8.4 percent after a prominent fund manager said the bank's shares w...

Treasury restates support for Fannie, Freddie

2010-03-05T14:03:50Z

<div id="subtitle">Gov't restates support for Fannie Freddie after lawmaker's comments rattle investors</div><div><p>The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Reuters) - Two key Republicans are urging the House of Representatives to speed up a public hearing to investigate the administration's bailout of home funding giants Fannie Mae and

Fannie, Freddie losses underscore dire US housing sector

2010-03-01T14:16:01Z

<div><p>The US home mortage sector remains under siege -- as recent huge losses reported by government-run Fannie Mae and Freddie Mac show -- from high unemployment and troubled loans.</p><p>"Fannie Mae and Freddie Mac are being hit by continuous problems. That pressure is going to continue th...

Fannie Mae seeks $15.3B in gov't aid after 4Q loss

2010-02-26T15:30:55Z

<div id="subtitle">Fannie Mae asks for $15.3B in federal aid after posting $16.3 billion loss in fourth quarter</div><div><p>Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year.</p><p>The rescue of Fannie Mae and sister company Reuters) - The Federal Reserve expects the largest U.S. banks to make progress this year in overhauling their pay practices, while acknowledging that more dramatic changes may take longer to implement, a Fed official said on Thursday.</p><p>Obama administration won't seek to overhaul Fannie Mae, Freddie Mac until 2011</div><div><p>The Obama administration will wait until 2011 to propose an overhaul of mortgage giants Fannie Mae and Freddie Mac,

Freddie Mac losses mount, warns of foreclosures

2010-02-24T11:15:41Z

<div id="subtitle">Freddie Mac's losses keep mounting, but mortgage giant avoids requesting more taxpayer aid</div><div><p>Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae.</p><p>Freddie Mac, which has lost a total of almost...

Fannie Mae expects $5B charge due to tax credit

2010-02-24T10:15:18Z

<div id="subtitle">Fannie Mae expects $5 billion charge after Treasury rejects tax credit sale plan</div><div><p>Fannie Mae plans to take a $5 billion charge when its reports its fourth quarter results later this week because the government blocked its plan to sell tax credits.</p><p>The Treasury Department last year...

US Earns Fannie Mae

2010-02-10T22:15:24Z

FILE- In this July 11, 2008 file photo, a sign in front of the Fannie Mae headquarters in Washington is seen. Mortgage financier Fannie Mae reported in late January, 2010, that the rate of borrowers who have a conventional loan on a house and are seriously delinquent was 5.29 percent in November, more than doubling the rate of 2.13 percent in November 2008. (AP Photo/Manuel Balce C...

Citi to let distressed homeowners stay for 6 mos.

2010-02-22T10:11:11Z

<div id="subtitle">Citigroup plan lets homeowners avoid foreclosure, stay for 6 months if they turn over deed</div><div><p>Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.</p><p>Citi said Thursday it is launching the pilot program, dubbed "Foreclosure Alt...

Fannie, Freddie to start buying back bad loans

2010-02-22T10:18:34Z

<div id="subtitle">Mortgage financiers to buy back soured loans contained in mortgage-backed securities</div><div><p>Government controlled mortgage finance companies Fannie Mae and Freddie Mac said Wednesday they will buy back troubled loans contained in securities they have already sold to investors.</p>...

Fed's Warsh says restoring market discipline key

2010-02-22T12:15:07Z

<div><p>NEW YORK (Reuters) - Federal Reserve Governor Kevin Warsh said on Wednesday that regulatory improvements alone would not prevent future financial crises and the government must be willing to let firms fail.</p><p>"Regulation is too important to be left to regulators alone. We need a system in which insolvent firms ...

HUD asking for $41.6B for 2011 budget

2010-02-22T12:57:24Z

<div id="subtitle">HUD's 2011 budget amounts to 5 percent cut in funding due to expected spike in FHA revenue</div><div><p>The Department of Housing and Urban Development said Monday it will ask for less money from Uncle Sam this year because it expects income from two of its agencies to more than double.</p...

Rep. Frank: Abolish Fannie Mae, Freddie Mac

2010-02-22T16:19:46Z

<div id="subtitle">Rep. Barney Frank calls for replacement of mortgage finance giants Fannie Mae, Freddie Mac</div><div><p>A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance com...

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