The U.S. Congress on Thursday voted to extend higher loan limits for government-backed mortgages, a move that should help keep borrowing costs low and support the shaky housing sector.
As many as 30 million U.S. homeowners would be able to refinance their mortgage at record low interest rates regardless of their credit situation under a plan unveiled on Tuesday by a Democratic lawmaker.
Fannie Mae, the largest provider of funding for U.S. home mortgages, on Wednesday said its mortgage investment portfolio shrank in August, while delinquencies on loans it guarantees slowed significantly in the month prior.
Mortgage finance giants Fannie Mae and Freddie Mac could cost the government $53 billion through 2020 or save the government as much as $44 billion, depending on the accounting principles used.
Mortgage finance giants Fannie Mae and Freddie Mac will not exist in their current form after a revamp of the U.S. housing finance system, a top Obama administration official said on Tuesday.
Michael Barr, assistant treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency will testify on Capitol Hill next week on the future of Fannie Mae and Freddie Mac.
A key U.S. banking regulator raised concern on Wednesday about the risk of exposure the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.
The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later.
A further downturn in the battered U.S. housing market has put the Obama administration in a tough spot with few tools to stem foreclosures ahead of congressional elections in which Democrats face big losses.
Robert Prechter speaks to IBTimes about mass psychology in the financial markets and specifically about the Greek sovereign debt crisis.
Fannie Mae, the largest provider of funding for U.S. residential mortgages, will begin demanding compensation from mortgage servicing companies that fail to properly handle troubled mortgage loans.
Prices of U.S. single-family homes fell for the first time in four months in June, and by an adjusted 1.7 percent from a year earlier, the Federal Housing Finance Agency said on Wednesday.
A mortgage servicing company's claims that would push responsibility for faulty mortgage loans onto Wall Street titan Morgan Stanley were dismissed by a Delaware court, according to a court filing.
The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.
In March of 2000, American homeowners got a scare.
Fannie Mae and Freddie Mac should be abolished rather than reformed as part of the Obama administration's planned overhaul of the government's role in housing finance, Rep. Barney Frank, chairman of the House Financial Services committee, said on Tuesday.
Influential bond investor Bill Gross dispensed more policy advice than the U.S. Treasury bargained for on Tuesday, calling for a massive program to refinance mortgages at low rates to boost the flagging economy.
The U.S. government's role in housing finance should undergo fundamental change, but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.
General Motors Co is considering selling a chunk of the carmaker's stock to institutions who would commit to buy and hold major stakes as the company prepares for its initial public offering, people familiar with the discussions said on Monday.
Mortgage finance giant Freddie Mac (FMCC.OB) on Monday said it would need another $1.8 billion in aid from taxpayers, bringing its total request since it was taken over by the government two years ago to more than $64 billion.
The top Republican on the House Financial Services Committee called on Friday for an investigation into charges that mortgage finance giant Fannie Mae pushed borrowers into a mortgage aid program so it could receive incentive payments from the U.S. government.
Bank of America Corp projects that its losses from pending litigation could be as high as $1.4 billion, the company disclosed in its second-quarter report filed Friday with securities regulators.
