The Obama administration is asking for public comment on seven broad questions about the future of housing finance that will provide a framework for reforming Fannie Mae and Freddie Mac.
U.S. mortgage bonds backed by government agencies Fannie Mae, Freddie Mac and Ginnie Mae have so far handily navigated the waters without the recent support of the Federal Reserve, but it may not be smooth sailing for long.
On March 17, 2009, a group of mortgage bond investors worried about the losses they could suffer as a result of U.S. foreclosure prevention plans asked top bankers to share the pain by taking some write-downs on $450 billion in home equity loans.
Fannie Mae did not abandon its goals of increasing homeownership for poorer Americans in pursuit of higher profits, as some have alleged, said Daniel Mudd, the chief executive of the company who was ousted by the government in 2008.
The house price bubble, the most prominent global bubble in generations, was caused by lower interest rates but...it was long-term mortgage rates that galvanized prices.
U.S. mortgage rates spiked last week, slashing refinancing demand, while requests for home purchase loans held steady amid a final rush for federal tax credits, Mortgage Bankers Association data showed on Wednesday.
Nearly two-thirds of Americans think the time is right to buy a house, with a majority believing prices will be the same or higher over the next year, according to a Fannie Mae survey released on Tuesday.
The Federal Reserve's balance sheet fell in the latest week, Fed data released on Thursday showed.
Former Federal Reserve Chairman Alan Greenspan and ex-Citigroup Chief Executive Chuck Prince will appear next month before a U.S. panel investigating the roots of the financial crisis that brought global markets to their knees in 2008.
The double-whammy of rising Treasury yields and the end of the Federal Reserve's $1.25 trillion mortgage-buying program could prove to be a buying opportunity for the biggest bond investors.
Goodbye, Federal Reserve. Hello Fannie and Freddie.
Redwood Trust Inc is looking to float at least $200 million worth of securities backed by home mortgage loans, the Wall Street Journal said, citing people familiar with the situation.
The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday.
The U.S. Federal Reserve's balance sheet rose to a record high in the latest week, surpassing the previous week's record level, Fed data released on Thursday showed.
The Treasury is committed to spending the full $50 billion in bailout funds it budgeted for mortgage modifications but will consider changes to make the program more effective, a senior Treasury official said on Thursday.
A modest U.S. economic recovery still warrants the Federal Reserve's ultra-low interest rate policy, but the central bank stands ready to remove stimulus once the expansion looks solid, Chairman Ben Bernanke said on Thursday.
Treasury Secretary Timothy Geithner on Tuesday launched what could be a years-long process of overhauling the government's role in helping Americans buy homes, a first step toward rebuilding the housing finance system at the heart of the financial crisis.
The government should continue to play a role in any new system of housing finance Congress develops, Treasury Secretary Timothy Geithner told lawmakers on Tuesday as they began to debate an overhaul of the way Americans buy their homes.
The U.S. mortgage finance system should be revamped, government guarantees should be clearly defined and risk priced accordingly, Treasury Secretary Timothy Geithner plans to tell Congress on Tuesday.
With the housing sector still on the ropes, the Obama administration on Tuesday will begin to sketch out plans for the market's two biggest financing pillars, Fannie Mae and Freddie Mac.
Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a setback in home sales, and warned on its impact on the economic recovery.
