All Entries Tagged With: "Fannie Mae"
Fannie Mae Unsure on Tax Credits Sale
Fannie Mae (NYSE:FNM) is deciding whether it can proceed with a sale of tax credits after the Treasury said on Friday it would block the sale of those investments to Goldman Sachs Group (GS.N).
Fannie Mae needs another $15 billion Following More Losses
Fannie Mae (NYSE:FNM) the US mortgage finance firm has asked for another $15bn (£9bn) in state aid. This is the fourth time that the firm has requested state aid; this comes after the firm announcing losses of $19bn between July and September.
Fannie Mae and Freddie Mac: 4.5 Mortgage
The US Treasury have announced a plan to push down the US mortgage rates, the idea behind the plan it for Fannie Mae and Freddie Mac to pay a higher price for loans from lenders, the lenders will be then in a position to offer loans to borrowers for as little as 4.5 percent for [...]
Fannie Mae, Freddie Mac and FHLB equal $6.8 Trillion US Debt
Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) along with 12-member Federal Home Loan Bank system (FHLB) controls a whopping $6.8 trillion of US debt, this amounts to more than half of the total US government debt which stands at $10.6 trillion, according to a report by the Federal Housing Finance Agency.
The FHFA now supervises [...]
Freddie Mac asks for first government injection of $14 billion
US mortgage giant Freddie Mac reported losses of $25 billion for the period between July and September this year and have now asked the US Federal government for the first $14 billion handout that was made available from the Feds bailout plan.
It just raises more concerns that the government’s interception was not enough and it [...]
Better Terms for Mortgage: Negotiate
Yesterday the US government unveiled that Freddie Mac and Fannie Mae would modify the terms for borrowers as long as they are 90 days late with their mortgage repayments, however some Americans are unhappy that it will only help the homeowner that have already run into trouble and not the homeowners who have carefully balanced [...]
Fannie Mae and Freddie Mac Mortgage Plan Expected Tuesday
Fannie Mae and Freddie Mac are at the centre of a US government plan to stabilize the ailing property market and modify mortgages stopping short of direct federal financial help for homeowners at risk.
Between Fannie Mae and Freddie Mac they back or own around 31 million mortgages that when altogether are work $5 trillion. The [...]
Fannie Mae shocking fall of $13 a share in Q3
Fannie Mae the largest US residential mortgage provider announced losses of $29 billion in the quarter three, this equates to a loss of $13 per share.
For the same period last year Fannie Mae lost £1.4 billion which works out at $1.56 per share, and the mortgage loan company has warned of major loss for the [...]
Mortgage Executives legal bills paid by taxpayers
When Freddie Mac and Fannie Mae were taken over by the US government not only did the taxpayer inherit bad debt, they could possibly be in-line to pay tens of thousands of dollars in legal fees, these legal fees are for the mortgage executives who are at the centre of the housing market collapse.
As [...]
What should the government do with Freddie Mac and Fannie Mae?
A public debate was opened last Friday by Federal Reserve Chairman Ben Bernanke over what should happen with Freddie Mac and Fannie Mae once the financial crisis is over.
Last month both Fannie and Freddie were taken over by Uncle Sam after Bernanke said they were operating in “an unsafe and unsound manner”. In a speech [...]
Fannie Mae interest rate jumped 0.80 points
Fannie Mae who along with Freddie Mac received a government bailout earlier this year sold $2 billion in bills at highest interest rate compared with sales of the same maturities a week ago. This is further evidence of the strain the money
Fannie and Freddie takeover: not all homeowners benefit
Half of the nations’ home mortgages are now owned or guaranteed by the federal government after the Fannie Mae and Freddie Mac take over, and now we will all be after a mortgage break
30-year fixed-rate mortgage average: 5.93 percent after government bailout
In the past week, the interest rate on U.S. 30-year fixed-rate mortgages fell by 0.42 percentage points, America have not seen a seven-day drop like this in more
Will Freddie Mac and Fannie Mae bailout also help prime mortgage customers?
As Freddie Mac and Fannie Mae were bailed out this week by the US Federal Government, which is of course basically the US taxpayer, we have decided to bring to your attention some
Freddie Mac & Fannie Mae set for US government takeover
It’s been reported in the Wall Street Journal, that the US treasury department are finalizing a plan which could see Freddie Mac and