The federal regulator of Fannie Mae and Freddie Mac on Monday said it is seeking to determine if issuers of private mortgage bonds are liable for losses suffered by the two housing finance giants.
Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.
Goldman Sachs Group Inc was sued by Liberty Mutual Insurance Co, which accused the Wall Street bank of fraudulently misleading it into buying preferred stock of mortgage financier Fannie Mae that would become virtually worthless.
The managers of China's hoard of currency reserves defended their investment record on Tuesday, saying they had avoided big losses during the global crisis and voicing confidence they could achieve stable long-term returns.
Empire State Development has announced that New York State will make available up to $100 million in mortgage financing for purchasers of offices in the International Gem Tower through its Job Development Authority program.
Freddie Mac, the second largest purchaser of residential mortgages, said it shrank its investment portfolio in May, while the delinquency rates on loans it guarantees were mixed at elevated levels.
A broad rewrite of financial rules will make it tougher to get a mortgage, but Congress may not be going far enough to crack down on the easy home loans at the heart of the financial meltdown.
Fannie Mae and Freddie Mac, the largest U.S. home funding companies, will delist their shares on the New York Stock Exchange after Fannie Mae fell below and Freddie Mac held near minimum price requirements, the companies' regulator said on Wednesday.
The decade of the 1960s stood orthodoxy on its head. It was a time when alternative everything got a hearing. Expertise came into doubt; the phrase some decisions are too important to be left to the experts was heard everywhere.
U.S. mortgage finance enterprises Fannie Mae and Freddie Mac , seized by the government during the financial crisis, will continue to sustain losses on mortgages as house prices drop, their regulator said in testimony made public on Tuesday.
Financing for U.S. housing still lacks private capital, a sign of a very sick system, said David Stevens, Federal Housing Administration commissioner, told a Mortgage Bankers Association convention on Monday.
The regulator for Fannie Mae and Freddie Mac said on Monday the U.S. government-controlled mortgage finance giants will launch a standardized method for lenders to submit information on mortgages, including appraisals, by next year.
Persuading Beijing to let its yuan currency rise in value is not simply an issue for the United States but one that should interest the whole world, Treasury Secretary Timothy Geithner said on Wednesday.
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort.
U.S. stock index futures pointed to a higher start for Wall Street on Wednesday, on track to reverse the previous session's losses, with futures for the Dow Jones, S&P 500 and Nasdaq all up around 0.2 percent by 04:40 a.m. EST.
The Senate on Tuesday challenged the Federal Reserve's tradition of secrecy but postponed an overhaul of mortgage finance giants Fannie Mae and Freddie Mac under a massive reform of banking regulations.
It is unclear how much U.S. taxpayers will eventually have to shell out to help mortgage finance giants Fannie Mae and Freddie Mac, the regulator of the two companies said on Tuesday.
It is unclear how much U.S. taxpayers will eventually have to shell out to help mortgage finance giants Fannie Mae and Freddie Mac, the regulator of the two companies said on Tuesday.
Fannie Mae, the largest U.S. residential mortgage funds provider, on Monday asked the government for an additional $8.4 billion after the company lost $13.1 billion in the first quarter.
Fannie Mae, the largest U.S. residential mortgage funds provider, on Monday asked the government for an additional $8.4 billion after the company lost $13.1 billion in the first quarter.
Fannie Mae, the largest U.S. residential mortgage provider, on Monday reported a net loss of $13.1 billion in the first quarter and said it tapped the Treasury for additional aid of $15.3 billion.
Financial reform legislation being debated by the Senate needs to overhaul government involvement in U.S. mortgage finance giants Fannie Mae and Freddie Mac, Senator Richard Shelby, the lead Republican on the Senate Banking Committee, said on Saturday.
