The Federal Housing Administration, which guarantees around a third of U.S. mortgages, faces dwindling cash reserves and could require a taxpayer bailout, according to a forthcoming study by Joseph Gyourko, a professor at the Wharton School.
Fannie Mae, the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion.
Fannie Mae reported a $5.1 billion loss in the third quarter on Tuesday, up from a $2.9 billion loss in the second quarter of 2011, and a $3.5 billion loss in the third quarter of 2010.
The California attorney general on Thursday called on Fannie Mae and Freddie Mac to cut mortgage debt on the loans they own, a suggestion the government entities have long resisted.
FBR Capital Markets believes the amendment to re-raise the loan limits at Fannie Mae and Freddie Mac in high-cost areas will be in the final bill and be enacted into law later this month.
Mortgage finance giant Freddie Mac said on Thursday it will seek an additional $6 billion from U.S. taxpayers following its worst quarterly loss this year.
Freddie Mac reported a $4.4 billion loss in the third quarter on Thursday and requested $6 billion in additional aid from the U.S. Treasury Department.
Prosecutors have filed a lawsuit against Allied Home Mortgage Capital Corp and its executives, Jim Hodge and Jeanne Stell, claiming that the company misled the federal Department of Housing and Urban Development (HUD) with bad mortgages.
Fannie Mae's and Freddie Mac's regulator on Saturday rejected criticism he was obstructing a housing recovery by taking too narrow a view of his mission to protect the financial health of the two massive, taxpayer-supported mortgage firms.
Fannie Mae's and Freddie Mac's regulator on Saturday rejected criticism he was obstructing a housing recovery by taking too narrow a view of his mission to protect the financial health of the two massive, taxpayer-supported mortgage firms.
The White House said Friday it would conduct an independent review of the U.S. Energy Department's loan portfolio following the collapse of Solyndra, the solar-panel maker that went bankrupt last month after receiving a hefty federal loan guarantee.
A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.
The regulator for Fannie Mae and Freddie Mac was reviewing a proposal to help troubled homeowners by forgiving a portion of their outstanding mortgage debt, Democrats in the House of Representatives said on Wednesday.
Big investors are showing interest in an evolving Obama administration plan to sell off foreclosed homes, although the government will have to make the offer sweet enough to coax private funds.
Freddie Mac's chief executive, Charles E. Ed Haldeman Jr, will step down by the end of the year, the regulator of the company said on Wednesday.
Charles Haldeman Jr., CEO of mortgage giant Freddie Mac, will resign by the end of the year, the organization said on Wednesday.
New single-family home sales rose at their fastest pace in five months in September, a government report showed on Wednesday, but sustained price declines indicated the housing market is far from recovery.
The U.S. government announced Monday that it will revise the Home Affordable Refinance Program (HARP) which would allow underwater homeowners to refinance their mortgages. But will the HARP overhaul affect the housing market and the economy at a whole? Here are 5 things you need to know about HARP.
U.S. homeowners who owe more than their properties are worth got new help on Monday when a U.S. regulator expanded a government program in a step that could help up to one million borrowers.
President Barack Obama will tout newly unveiled measures on Monday aimed at aiding struggling homeowners and easing the U.S. housing crisis on the first leg of a campaign-style swing through western states crucial to his re-election in 2012.
A leading housing regulator on Monday announced changes to a government refinancing program that could help up to one million homeowners whose homes are worth less than their mortgage.
President Barack Obama will unveil new measures to help struggling homeowners on Monday in the first leg of a campaign-style swing through western states that may be crucial to his re-election in 2012.
