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That is, young people are forming rented households. This meme, that it’s a great time to buy a house, is relentless. In a Bloomberg story along the same lines, Potomac Gap Shows Court Foreclosures Delay Housing Recovery, former Fannie Mae chief...
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Real estate agents will now submit offers online on behalf of clients, receive receipt confirmation and track the status of submitted offers through the HomePath.com website. In November 2010, Fannie Mae launched the HomePath Online Offers pilot in...
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Whether it is federal mortgage subsidies, like Fannie Mae, or reduced interest rates via loose monetary policy, these policies increase the demand for housing by allowing, and encouraging, more buyers to enter the market. As I’ve written in more detail...
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Since leaving the House, Gingrich has feasted at the K Street lobbying trough and perpetuated his long, cozy association with the government-supported mortgage giants Fannie Mae and Freddie Mac. Announcing a housing partnership in Atlanta in 1995, for...
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The pension change would require employees hired starting in 2013 to contribute an additional 2.3 percentage points of their wages toward their pensions, according to the Finance Committee. The legislation doesn’t include higher fees that Fannie Mae...
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Those mysterious financial instruments, derivatives, were perfectly safe said Bernanke. In 2008, he was still predicting housing prices would probably keep rising. In 2007 he saw no problem with the subprime mortgages that two “government sponsored...
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"Across the United States, the largest increase in foreclosures and delinquencies, compared with 2008 levels, is with "jumbo" mortgages - loans too large to be insured by Fannie Mae and Freddie Mac, the government controlled mortgage finance providers. ...
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Cut funding for National Labor Relations Board for decision preventing airplane factory in South Carolina. Eliminating funding for United Nations’ agencies which oppose America’s interests and promote abortion and cut the US contribution to the UN in...
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Administration and Congress. Loan modifications are the quintessential example. Perhaps one more relevant bit here is the law that was passed earlier this year requiring banks that repossess houses to honor the terms of existing leases (i.e. , to not...
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Then watch capital head for the exits. Fast. It’ll positively race for those tax shelters. It knows just where they are. It’s been there before. And we’ve heard this carnival barker’s spiel before, and seen the results. As in the Carter Years. Or in...
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Baums firm already has paid $2 million in federal fines, is under investigation by multiple state and federal agencies, has been blacklisted by both Freddie Mac and Fannie Mae and faces at least one class-action lawsuit. New Yorks attorney general,...
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M&T Bank has approved a refinance of Smith's original $350,000 mortgage, decreasing his interest rate from 6.4 percent to 4 percent. The fees clocked in at about $4,000. Smith was able to whittle down his monthly payment by $200, thanks to new...
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Bank of America, trustee, and Agawam Partners LLC to Bank of America, trustee, 609 Silver St. , $1,540,000. Federal National Mortgage Assoc. and Fannie Mae to Edward J. Grus, 111 Clover Hill Drive, $171,900. Doris L. Bielitz to Jonathan W. Dezielle,...
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Sadly local governments manage, on regular basis, to give the federal government some real competition in terms of just plain dumb. The last entry is this category comes from Winona, Minnesota. The great folks at the Institute for Justice summarize...
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Fannie and the Federal Home Loan Mortgage Corp. (Freddie Mac) bought bad loans from firms such as Countrywide Financial -- where "fraud was systemic" -- then resold the toxic mortgages to Wall Street. Mr. Daley served on Fannie Mae's board. Mr. Emanuel...
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In fact, U.S. factories were becoming uncompetitive compared with those of Japan and other low-cost rivals; it’s no wonder corporate America sought more solid returns in financial services. Fannie Mae and Freddie Mac pushed home-loan finance costs down...
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In a CNN debate, Ron Paul was asked if Gingrich and Romney should “return” money they made from Freddie Mac (one for services, the other as a shareholder). Paul said: “That subject really doesn’t interest me a whole lot. The question is, what are we...
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There is a lot of money for both the government and private sector players in these sales. It’s not clear who will get “fat” from the new licenses, but it’s clear that someone will. *Section 1327, ENTERPRISE GUARANTEE FEES, discusses fees that will be...
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There is a lot of money for both the government and private sector players in these sales. It’s not clear who will get “fat” from the new licenses, but it’s clear that someone will. *Section 1327, ENTERPRISE GUARANTEE FEES, discusses fees that will be...
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Here's a quick rundown on key segments of the housing proposals with a handicapping of their likely impact this year: - Going nowhere: If you've got an underwater mortgage that isn't owned or guaranteed by Fannie Mae or Freddie Mac, the president's...
About Fannie Mae
Wikipedia
The Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, is a government sponsored enterprise (GSE) of the United States government. As a GSE, it is a shareholder-owned corporation authorized to make loans and loan guarantees. It is not backed or funded by the U.S. government, nor do the securities it issues... Full Article
Related Photos
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WASHINGTON, DC - DECEMBER 01: Fannie Mae President and CEO Michael Williams testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. The CEOs testified to the subcommittee about oversight of the Federal...
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WASHINGTON, DC - NOVEMBER 16: Michael Williams, president and CEO of Fannie Mae, participates in a House Oversight and Government Reform Committee hearing on Capitol Hill, on November 16, 2011 in Washington, DC. The committee is hearing testimony on whether Fannie Mae and Freddie Mac...
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WASHINGTON, DC - NOVEMBER 16: Michael Williams, president and CEO of Fannie Mae, looks at a monitor that reads 'Fannie and Freddie Still Owe Taxpayers $141 Billion', during a House Oversight and Government Reform Committee hearing on Capitol Hill, on November 16, 2011 in Washington, DC.
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WASHINGTON, DC - NOVEMBER 16: (L-R) Michael Williams, president and CEO of Fannie Mae, and Charles 'Ed' Haldeman Jr. , president and CEO of Freddie Mac participate in a House Oversight and Government Reform Committee hearing on Capitol Hill, on November 16, 2011 in Washington, DC. The...
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WASHINGTON, DC - NOVEMBER 09: Fannie Mae's headquarters in the nation's capital are seen November 9, 2011 in Washington, DC. Citing the rise in defaults on loans it has guranteed, the government-controlled mortgage giant is asking the federal government for $7.8 billion in aid to...
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US Treasury Secretary Timothy Geithner speaks during a press conference at the Treasury building on February 2, 2012 in Washington, DC. Geithner spoke about financial reform in 2012, saying more details are to come in the spring on the efforts by the administration of US President...
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AP Photo
The Fannie Mae headquarters is seen in Washington, Monday, Aug. 8, 2011. Standard & Poor's Ratings Services on Monday downgraded the credit ratings of mortgage lenders Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.
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WASHINGTON, DC - DECEMBER 16: Robert Khuzami (2nd R), Director of the U.S. Securities and Exchange Commission's (SEC) Enforcement Division, announces that the SEC has charged six former top executives of Fannie Mae and Freddie Mac with securities fraud, alleging they approved of...
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Getty Images
WASHINGTON, DC - DECEMBER 01: (L-R) Freddie Mac CEO Charles Haldeman Jr. , Federal Housing Finance Agency Acting Director Edward DeMarco and Fannie Mae President and CEO Michael Williams testify before the House Financial Services Committee's Oversight and Investigations Subcommittee...
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WASHINGTON, DC - DECEMBER 01: Federal Housing Finance Agency Acting Director Edward DeMarco (L) talks with Fannie Mae CEO Michael Williams before testifying before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. ...
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AP Photo
A financing available by Fannie Mae sign is posted on a foreclosed property offered for sale Tuesday, May 31, 2011, in the Los Angeles. Home prices fell nationwide for the eighth straight month, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday. Home prices...
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AP Photo
House Capital Markets and Government Sponsored Enterprises subcommittee Chairman Rep. Scott Garrett, R-N.J. , the subcommittee overseeing Fannie Mae and Freddie Mac, talks about his proposals to restructure the market for buying and selling mortgage loans, known as the secondary mortgage...
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WASHINGTON - MARCH 31: Sen. Orrin Hatch (R-UT) speaks at a news conference on Fannie Mae and Freddie Mac in the U.S. Capitol on March 31, 2011 in Washington, DC. The news conference introduced legislation that would end federal conservatorship of the government mortgage institutions.
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WASHINGTON - MARCH 31: Rep. Jeb Hensarling (R-TX) (R) listens during a news conference on Fannie Mae and Freddie Mac in the U.S. Capitol on March 31, 2011 in Washington, DC. The news conference introduced legislation that would end federal conservatorship of the government mortgage...
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Reuters Pictures
The headquarters of mortgage lender Fannie Mae is pictured in Washington in this September 8, 2008 file photo. Fannie Mae was warned in a 2006 internal report of abuses in the way lenders and their law firms handled foreclosures, The Wall Street Journal reported on March 24, 2011.
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Reuters Pictures
A sign in front of the Fannie Mae headquarters is photographed in Washington in this February 11, 2011 file photo. Fannie Mae was warned in a 2006 internal report of abuses in the way lenders and their law firms handled foreclosures, The Wall Street Journal reported on March 24, 2011.
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WASHINGTON, DC - MARCH 15: Former Fannie Mae Chairman and CEO Franklin Raines (R) attends a discussion with former Federal Reserve Bank Chairman Alan Greenspan at the Council of Foreign Relations on March 15, 2011 in Washington, DC. Fed chairman from 1987 to 2006, Greenspan discussed...
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Getty Images
This July 14, 2008 file photo shows a man as he walks by Fannie Mae headquarters in Washington, DC. Standard & Poor's downgraded mortgage giants Fannie Mae and Freddie Mac from triple-A to AA+ on August 8, 2011, citing their direct reliance on the US government, which it downgraded...
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Getty Images
WASHINGTON, DC - DECEMBER 01: Federal Housing Finance Agency Acting Director Edward DeMarco testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. DeMarco and the CEOs of mortgage giants Fannie Mae and...
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Getty Images
WASHINGTON, DC - DECEMBER 01: Freddie Mac CEO Charles Haldeman Jr. testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. The CEO testified to the subcommittee about oversight of the Federal Housing...
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Getty Images
WASHINGTON, DC - NOVEMBER 16: Charles Haldeman Jr. , president and CEO of Freddie Mac, speaks during a House Oversight and Government Reform Committee hearing on Capitol Hill, on November 16, 2011 in Washington, DC. The committee is hearing testimony on whether Fannie Mae and Freddie...
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WASHINGTON, DC - NOVEMBER 16: Chairman Darrell Issa (R-CA) participates in a House Oversight and Government Reform Committee hearing on Capitol Hill, on November 16, 2011 in Washington, DC. The committee is hearing testimony on whether Fannie Mae and Freddie Mac executives should be...
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National Peoples Action's Jordan Estevao, marching with the Freedom Plaza Occupation, Backbone Campaign & Economic Justice Allies, protests from a makeshift 'underwater home' November 10, 2011 to Demand Mortgage Correction in front of the Federal Housing Finance Administration (FHFA)...
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Getty Images
Demonstrators from the Freedom Plaza Occupation, Backbone Campaign & Economic Justice Allies protest November 10, 2011 to Demand Mortgage Correction in front of the Federal Housing Finance Administration (FHFA) in Washington, DC. Demonstrators are demanding that the FHFA force Fannie...
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Reuters Pictures
Charles "Ed" Haldeman Jr. , Chief Executive Officer of Freddie Mac, speaks at Boston College's Chief Executive's Club of Boston luncheon in Boston, Massachusetts October 26, 2011. Haldeman will step down by the end of the year, the regulator of the company said on Wednesday. The Federal...
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Getty Images
WASHINGTON, DC - DECEMBER 01: Fannie Mae President and CEO Michael Williams testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee December 1, 2011 in Washington, DC. The CEOs testified to the subcommittee about oversight of the Federal...
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