Fannie Mae and Freddie Mac should make use of Obama administration programs to help borrowers who owe more than their home is worth by writing down principal, U.S. Treasury Secretary Timothy Geithner said on Thursday.
The price of corporate bailouts in 2008 and 2009 looks cheap compared to past crises, U.S. Treasury Secretary Timothy Geithner said on Thursday, while urging more drastic action from housing finance giants Fannie Mae and Freddie Mac to help homeowners.
Bank of America Corp has started negotiating with powerful mortgage investors that accused the bank of failing to buy back bad home loans, in an apparent shift in the lender's stance.
The foreclosure prevention program of the Obama’s administration is expected to aid far fewer homeowners than initially targeted, according to a report released on Tuesday.
Fannie Mae and Freddie Mac are in discussions with U.S. government officials to join government programs aimed at reducing mortgage balances where borrowers owe more than the values of their homes, the Wall Street Journal reported on Tuesday citing people familiar with the situation.
Pending home sales in the U.S. rose in October, contrary to expectations of a drop, according to a report by the National Association of Realtors.
Sen. Jim Bunning, R-KY expressed anger Wednesday that the potential for another mortgage crisis remains, despite efforts to deal with the mortgage crisis over the past decade.
U.S. Rep. Maxine Waters, D-CA, is saying “Try me or tell me why not.”
U.S. home loan demand fell sharply in the last week, as fixed mortgage rates rose from near all-time lows.
The suicide concoction of fiat currency, debt, military empire, and delusion has been painless for those in power, but painful for the working middle class of this country.
U.S. mortgage-backed securities issuance jumped in the first nine months of 2010 from the same period a year earlier as credit markets loosened up and investors' risk appetite improved
U.S. 30-year and 15-year mortgage rates either tied or reached record lows in the latest week, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
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.
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.
Freddie Mac said on Friday that its mortgage portfolio shrank in August as did its total debt outstanding, while delinquency rates on loans it guarantees were mixed.
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.
U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
