President Barack Obama is expected to tap Fannie Mae Chief Executive Herb Allison to head the U.S. government's $700 billion financial rescue program, The Wall Street Journal reported, citing people familiar with the matter.
The U.S. government has launched an unprecedented array of actions to salvage the economy and stabilize the financial sector that could put up to $10.903 trillion of taxpayers' money at risk.
Treasury Secretary Timothy Geithner said Sunday that banks needing ‘exceptional’ U.S. aid may be forced to make management and board changes.
U.S. Treasury Secretary Timothy Geithner denied on Sunday the Obama administration was crafting bailout initiatives to allow companies to evade limits on executive pay and other restrictions imposed by Congress.
Continuing bonuses paid to employees at Fannie Mae and Freddie Mac are offensive since taxpayers are helping keep the mortgage-finance companies afloat, a leading Senate Republican said on Friday.
Continuing bonuses paid to employees at Fannie Mae and Freddie Mac are offensive since taxpayers are helping keep the mortgage-finance companies afloat, a leading Senate Republican said on Friday.
Ongoing bonuses paid to employees at Fannie Mae and Freddie Mac are offensive since taxpayers are helping keep the mortgage-finance companies afloat, a leading Senate Republican said on Friday.
The regulator of U.S. government-controlled Fannie Mae and Freddie Mac is looking at ways the two firms might help finance small mortgage banks hobbled by a dearth of credit, the Wall Street Journal reported.
The following are prepared remarks by Federal Reserve Chairman Ben Bernanke, who was set to testify in Washington today about the Fed’s involvement in the bailout of insurance giant American International Group Inc.
Washington based Fannie Mae said Wednesday its refinancing volume of mortgage loans has increased to $41 billion in February, the largest refinancing ever from $13.7 billion in January.
U.S. billionaire Warren Buffett suffered another setback in the global financial crisis on Friday when ratings agency Fitch cut the top rating on his insurance and investment company, Berkshire Hathaway .
Fannie Mae, the largest provider of funding for U.S. residential mortgages, said on Thursday it sold $9 billion in new five-year benchmark notes, a record size for this maturity.
Freddie Mac, one of the two main U.S. mortgage companies that the U.S. government is depending on to help stabilize the housing market, said on Wednesday it needs $30.8 billion from the Treasury to survive after a massive fourth-quarter loss.
Freddie Mac, a top mortgage finance company the U.S. government is depending on to help stabilize the housing market, said on Wednesday it needs $30.8 billion from the Treasury to survive after a massive fourth-quarter loss.
The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.
WASHINGTON/NEW YORK - The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.
The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.
The Obama administration on Wednesday gave lenders a green light to begin modifying home mortgages under a new $75 billion program aimed primarily at people facing imminent financial hardship.
Freddie Mac on Monday said Chief Executive Officer David Moffett is quitting just six months after being named to the post as the government forced the No. 2 mortgage finance company into conservatorship.
The telephones have been ringing off the hook at U.S. mortgage lenders since President Barack Obama pledged $275 billion on Wednesday to help stem a wave of home foreclosures.
U.S. President Barack Obama pledged up to $275 billion on Wednesday to help stem a wave of home foreclosures, part of a broad effort to lift the country out of recession.
Up to 9 million families would be given the chance to refinance their mortgages under the plan, administration officials said. He unveiled the plan in Arizona, a state hard hit by home foreclosures.
Obama, who a day earlier sig...
President Barack Obama unveiled his much-anticipated plan on Wednesday to fight the U.S. housing crisis, pledging up to $275 billion to help stem a wave of foreclosures sweeping the country.
