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, Citigroup Inc. raised hopes that other bailed-out companies would follow.</p><p>Shares of Citi rose 26 cents, or 7.3 percent, to c...

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...

TARP Administrator Kenneth Feinberg Testifies Before House Panel

2010-02-25T14:32:03Z

WASHINGTON - FEBRUARY 25: Special Master for Troubled Asset Relief Program Executive Compensation Kenneth Feinberg testifies during a Committee on Financial Services hearing on Compensation in the Financial Industry - the Government Perspectives on Capitol Hill February 25, 2010 in Washingto...

Fed to look into insurance contracts on Greek debt

2010-02-25T14:00:18Z

<div id="subtitle">Bernanke says Fed will look into Wall Street's use of credit default swaps involving Greece</div><div><p>Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is looking into the use by Freddie Mac since 2007

...

Geithner: No change to Fannie, Freddie until 2011

2010-02-24T13:30:47Z

<div id="subtitle">Geithner: 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,

Summary Box: Freddie Mac's losses continue

2010-02-24T11:15:49Z

<div id="subtitle">Summary Box: Freddie Mac's losses continue, but mortgage giant doesn't need more taxpayer aid</div><div><p>LOSSES CONTINUE: Mortgage finance company Freddie Mac said Wednesday that it lost $7.8 billion, or $2.39 a share, in the fourth quarter of last year. That was down from $23.9 billion, or $7.37 a share, in the same quarter a year ago.</p><p>UNCLE SAM DODGES A BULLET:...

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...

Freddie Mac posts 2009 loss of 21.5 billion dollars

2010-02-24T07:15:52Z

<div><p>Embattled US mortgage finance giant Freddie Mac said Friday it posted a net loss of 6.5 billion dollars in the fourth quarter to cap a whopping full year deficit of 21.55 billion dollars.</p><p>Freddie Mac, which was seized by the government and placed into conservatorship along with rival

Rates on 30-year home loans fall to 4.93 pct

2010-02-22T08:46:01Z

<div id="subtitle">Rates on 30-year mortgages drop to 4.93 pct, second straight weekly decline</div><div><p>Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last year's record lows.</p><p>The average rate on a 30-year fixed rate mortgage was 4.93 percent this week, down from 4.97 percent a week earlier, mortgage finance company 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...

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>...

A look at some of the Fed's support programs

2010-02-22T10:18:52Z

<div id="subtitle">A look at some of the Fed's economic support programs</div><div><p>A look at the status of some of the Fed's major economic support programs:</p><p>_ Program to buy $1.25 trillion in mortgage securities from Fannie Mae and Freddie Mac. Goal is to drive down mortgage rates ...

Freddie Mac to start buying back bad loans

2010-02-22T10:22:22Z

<div id="subtitle">Mortgage financier Freddie Mac to buy back soured mortgages contained in mortgage securities</div><div><p>Government controlled mortgage finance company Freddie Mac said Wednesday it will buy back an unspecified amount of troubled loans contained in securities it has already sold to investors.</p><p>The

News on Secondary Market Financing