All Entries Tagged With: "Freddie Mac"
David Kellermann Suicide: Freddie Mac CEO found dead
David Kellermann, the acting chief financial officer of Freddie Mac was found dead this morning in what looks to be suicide, according to Fairfax police. The CEO of the troubled bank was found in his Fairfax County home early this morning.
2009 the right time to buy property in the US?
If you have a good credit rating, proof of a reliable income and manageable debts this is the perfect time to buy a property according to HSH Associates.
So forget all the doom and gloom surrounding the housing market and get searching for your bargain property, 30-year Mortgage rates have not been this low in the [...]
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 [...]
Freddie Mac: fixed mortgage rates lowered again
According to a report from Mortgage giant Freddie Mac, the US fixed rate mortgages for the third consecutive week have fallen. The US National fixed rate average interest rate on the benchmark 30-year loan term is now 6.05 percent in the week ending Thursday, lower than last than
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 [...]
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 [...]
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 [...]
Borrowers back: New applications leap 17 percent
According to a survey by the Mortgage Bankers Association new mortgage loan applications stateside shot up nearly 17 percent last week as borrowers poured back into the mortgage market.
It seems as though people were waiting last week for the prime interest rate to be cut by the feds before making their move especially those who [...]
McCain: Obama backs Fannie Mae and Freddie Mac
The Presidential campaign for John McCain issued a release questioning Barack Obama and his opinion on Freddie Mac and Fannie Mae and subprime mortgages.
John McCain had said in an editorial during the October 7 presidential debate that Obama had encouraged Freddie Mac and Fannie Mae to make the risky loans. Obama denied the backing [...]
Freddie Mac: 30-year and 15-year mortgage rate fall
According to a survey by Freddie Mac the US 30-year and 15-year mortgage rates fell in the last week the home funding company released the survey results on Thursday 9.
US 30-year mortgage rates dropped an average of 0.16 percent
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
Morgage rate lowered due to Fannie and Freddie bailout
The mortgage rate has been pushed lower by the U.S. government take-over of mortgage giants Fannie Mae and Freddie Mac, although this is great news for homeowners looking
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