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As home loans sour at a rapid clip, mortgage finance giants Fannie Mae and Freddie Mac are aggressively bouncing back defectively underwritten loans to lenders. Full Article at Calculated Risk
2009-12-05 15:33:24 - Did the global crisis in the world financial markets come as a shock? Some believe it was something Wall Street and the White House could see coming. Full Article at PR-Inside.com
"Krewe" members mock failed mortgage funding institution Fannie Mae during a Mardi Gras parade, whose theme is "Stimulus Package", in New Orleans February 7, 2009. View Photo »
Finally people are realizing that AIG is like Fannie Mae(FNM Quote) and Freddie Mac(FRE Quote). This has been one of the longest short squeezes in history.
When the Dubai debt crisis broke over the long Thanksgiving weekend, it was like a gruesome flashback to the fall of 2008: panic buying of dollars, government bonds, and gold; falling stocks in emerging markets; bankers pleading for a government... Full Article at Slate
Even as the housing crisis hit, some in Congress continued to support the failing Fannie Mae and Freddie Mac and opposed new rules to rein in runaway...View Enlarged Image This is the fourth of five parts of a Monday series excerpting Thomas Sowell's... Full Article at Investor's Business Daily
The federal budget deficit was $292 billion for the first two months of fiscal year 2010, CBO estimates in its , about $11 billion greater than the shortfall recorded through November of last year. Full Article at U.S. Congressional Budget Office
WASHINGTON - DECEMBER 9: (L-R) Former Freddie Mac CEO Richard Syron, former Fannie Mae CEO Daniel Mudd, and former Freddie Mac CEO Leland Brendsel are sworn in while testifying before the House Oversight and Government Reform Committee during a hearing... View Photo »
It's Fannie Mae and Freddie Mac all over again
By Aparajita Saha-Bubna As home loans sour at a rapid clip, mortgage finance giants Fannie Mae and Freddie Mac are aggressively bouncing back defectively underwritten loans to lenders. Full Article at Wall Street Journal
So you’re looking to buy a new home, and you think a foreclosed house may be the best deal. Full Article at The New York Times
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WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines (R) listens to former Fannie Mae CEO Daniel Mudd testify before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9...
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines testifies before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines (R) testifies before the House Oversight and Government Reform Committee with former Freddie Mac CEO Leland Brendsel (C) and former Fannie Mae CEO Daniel Mudd (L) during a hearing on 'The Role of Fannie and Freddie Mac in t...
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines (R) testifies before the House Oversight and Government Reform Committee with former Freddie Mac CEO Leland Brendsel (C), former Fannie Mae CEO Daniel Mudd (L) and former Freddie Mac CEO Richard Syron (top) during a hearing...
View Photo »Franklin Raines, former CEO of mortgage giant Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Franklin Raines, former CEO of mortgage giant Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Franklin Raines, former CEO of mortgage giant Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Franklin Raines, former CEO of mortgage giant Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Daniel Mudd, former CEO of Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Daniel Mudd, former CEO of Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »Daniel Mudd, former CEO of Fannie Mae speaks during a hearing of the House Committee on Oversight and Government Reform on the role of Fannie Mae and Freddie Mac in the current financial crisis on Capitol Hill in Washington, DC, on December 9, 2008.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Daniel Mudd testifes before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Daniel Mudd (R) testifes along with former Freddie Mac CEO Richard Syron (L) before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill Decemb...
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines (R) listens to former Fannie Mae CEO Daniel Mudd testify before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9...
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines testifies before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines testifies before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Daniel Mudd (L) listens to former Fannie Mae CEO Franklin Raines (R) testify before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill Decemb...
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines testifies before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »WASHINGTON - DECEMBER 9: (L-R) Former Freddie Mac CEO Richard Syron, former Fannie Mae CEO Franklin Raines, former Fannie Mae CEO Daniel Mudd, and former Freddie Mac CEO Leland Brendsel arrive ahead of testifying before the House Oversight and Government Reform Committee during a heari...
View Photo »U.S. Federal Reserve Chairman Ben Bernanke (R) and former Treasury Secretary Henry Paulson testify at the House Financial Services Committee hearing on "Oversight of Implementation of the Emergency Economic Stabilization Act of 2008 and of Government Lending and Insurance Facilities; I...
View Photo »FILE - This Sept. 8, 2008 file photo shows Anthony Campagna, left, Donald Himpele Jr. , and Chris Enright, right, all of Spear, Leeds, & Kellogg Specialists, gathering around the post where their firm trades Fannie Mae prior to the opening bell at the New York Stock Exchange in New York.
View Photo »FILE - In this Sept. 7, 2008 file photo, Federal Housing Finance Agency Director James Lockhart, left, concludes his remarks as Treasury Secretary Henry Paulson, Jr. , right, takes his turn at the microphone during a news conference in Washington on the bailout of mortgage giants Fannie...
View Photo »FILE - This Sept. 8, 2008 file photo shows Anthony Campagna, left, Donald Himpele Jr. , and Chris Enright, right, all of Spear, Leeds, & Kellogg Specialists, gathering around the post where their firm trades Fannie Mae prior to the opening bell at the New York Stock Exchange in New York.
View Photo »FILE - In Nov. 11, 2008 file photo, Federal Housing Finance Agency Director James B. Lockhart III, attends a news conference in Washington. Lockhart, head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac, is stepping down.
View Photo »A woman takes a brochure detailing how homeowners can make their mortgage payments more affordable at the Fannie Mae booth set up at the Housing Rescue Fair, part of the National Urban League's Economic Empowerment Tour, in Dallas, Texas June 13, 2009.
View Photo »WASHINGTON - DECEMBER 9: Former Fannie Mae CEO Franklin Raines testifies before the House Oversight and Government Reform Committee during a hearing on 'The Role of Fannie and Freddie Mac in the Financial Crisis' on Capitol Hill December 9, 2008 in Washington, DC.
View Photo »The proposal places taxpayers first in line to bear the losses when the government invokes its resolution authority ... And for those who believe that those taxpayer losses would be recouped from surviving firms, I would direct their attention to the recent examples of GM, Chrysler, Fannie Mae, Freddie ...
If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole.
Fannie Mae, Freddie Mac, and Ginnie Mae now own or guarantee an overwhelming share of originations
To suggest somehow that [Fannie Mae and Freddie Mac] are in trouble is simply not accurate.
These two entities--Fannie Mae and Freddie Mac--are not facing any kind of financial crisis
Bush's plan would be closely tied to some $440 million in minority loan programs offered by Fannie Mae and Freddie Mac. President Bush commended Fannie Mae and Freddie Mac's efforts.
Bush's plan would be closely tied to some $440 million in minority loan programs offered by Fannie Mae and Freddie Mac. President Bush commended Fannie Mae and Freddie Mac's efforts.
Please do not re-create Fannie Mae and Freddie Mac
FHFA supports this initiative and the important role Fannie Mae and Freddie Mac will play in implementing it
In our view, the only viable option to limit taxpayer expense and recapitalize Fannie Mae and Freddie Mac is to set up a Bad Fannie and Bad Freddie with the existing portfolios, and a new Fannie Mae and Freddie Mac as cooperatives of bank mortgage lenders, along the lines of the other GSEs
Fannie Mae and Freddie Mac today are acting as a direct arm of the federal government providing massive federal aid to support and revive the U.S. housing market in the midst of a crisis
Fannie Mae and Freddie Mac have been at the heart of the U.S. housing boom, bust and recovery ... As the mortgage market moves away from crisis mode, the future of the government-sponsored enterprises (GSEs) has to be addressed. In order for the GSEs to survive going forward, we believe they need to be ...
Under such an approach, the banks that originate an agency conforming loan would be required to retain 5% of the loan balance as an equity investment in either Fannie Mae or Freddie Mac ... Thus the new agencies would be recapitalized at a solid 5% level of the new expanded balance sheets.
In our view, the only viable option to limit taxpayer expense and recapitalize Fannie Mae and Freddie Mac is to set up a Bad Fannie and Bad Freddie with the existing portfolios, and a new Fannie Mae and Freddie Mac as cooperatives of bank mortgage lenders, along the lines of the other GSEs -- the Federa...
The people who bought debt in Fannie Mae and Freddie Mac can read a prospectus. They can read it. It says it is not guaranteed by the government. Anybody who can read a balance sheet knew that both of those companies were a sham and they had problems.
The growth of the major financial firms over the past few decades -- including Fannie Mae, Freddie Mac, and the major investment banks -- also likely stemmed in part from the assumption by investors and counterparties that these firms would receive government assistance if they became troubled
We do not have a crisis at Freddie Mac, and particularly at Fannie Mae.
They are all priced so that you can get Fannie Mae conforming mortgages
I've often talked about the Community Reinvestment Act of Jimmy Carter, doubled down by Bill Clinton, about [former Fannie Mae executives Franklin] Raines and [Jim] Johnson and how much money they made. You have all that information in there. But it is a deeper story than that.
helping the government assess complex securities at collapsed Bear Stearns, nearly collapsed American International Group Inc., and mortgage giants Fannie Mae and Freddie Mac. It also is one of the fund managers in the Treasury's Public Private Investment Program
The Federal Housing Administration, the U.S. agency that insures mortgages with low down payments, faces $54 billion more in losses than it can withstand, a former Fannie Mae executive said. It appears destined for a taxpayer bailout in the next 24 to 36 months
This inefficient allocation of money would prevent tourists from spending that same money on shopping, food, and other expenses ... This fund would also put into place yet another private-public spending program that can be expanded and abused using tax dollars, much like what happened with Fannie Mae a...
Social Security isn't predatory. . . . Back before they were privatized, Fannie Mae and Freddie Mac weren't predatory. Ginnie Mae still isn't. And a public option for health insurance isn't predatory either.
We acknowledge and appreciate that Fannie Mae and Freddie Mac have accepted this challenge.
Investors are still trading common shares of Fannie Mae, Freddie Mac and AIG by the billions, even though analysts say their prices are almost certain to go to zero. All three are majority-owned by the government ... 'zombie' companies that technically are alive, until the government takes them off life...
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