BoA settles sour mortgages with Fannie Mae and Freddie Mac CHARLOTTE: Bank of America Corp (BoA) has agreed to pay US$2.8bil to mortgage finance giants Fannie Mae and Freddie Mac to settle claims over soured mortgages, signalling the bank may be closer to containing its outsized housing losses. Read more on The Star
Tag Archives: Fannie
BofA settles sour mortgages with Fannie Mae, Freddie
BofA settles sour mortgages with Fannie Mae, Freddie Bank of America Corp agreed to pay $2.8 billion to mortgage finance giants Fannie Mae and Freddie Mac to settle claims over soured mortgages, signaling the bank may be closer to containing its out-sized housing losses. Read more on Reuters via Yahoo! News
Freddie, Fannie offer holiday gift
Freddie, Fannie offer holiday gift MCLEAN, Va. — Freddie Mac said it will suspend foreclosure evictions from Dec. 20 through Jan. 3. The move applies only to those homes that have mortgages backed or guaranteed by Freddie Mac. Read more on Seattle Times
Fannie Mae says no second credit report needed
Fannie Mae says no second credit report needed Mortgage giant Fannie Mae said Friday that lenders who sell mortgages to the company are not required to run a second credit report before a borrower closes a home loan application. Read more on AP via Yahoo! Finance
Housing summit may yield Fannie and Freddie clues
Housing summit may yield Fannie and Freddie clues An Obama administration summit of housing industry leaders next week may yield clues on the future of Fannie Mae and Freddie Mac , the two mortgage heavyweights that so far have sucked up close to $150 billion in taxpayer bailout funds. Read more on Reuters via Yahoo! [...]
What’s next for housing finance, Fannie and Freddie?
What’s next for housing finance, Fannie and Freddie? WASHINGTON — With the overhaul of financial regulation in the bag, the Obama administration Tuesday said it’ll focus next on housing finance — another key cause of the recent deep economic downturn — with an eye to deciding the fate of mortgage finance titans Fannie Mae and [...]
Obama to Hold Aug. 17 Housing Conference on Ways to Repair Fannie, Freddie
Obama to Hold Aug. 17 Housing Conference on Ways to Repair Fannie, Freddie The Obama administration plans an Aug. 17 conference to discuss ways to fix the country’s “broken” housing-finance system and intends to submit a proposal by January to overhaul Fannie Mae and Freddie Mac. Read more on Bloomberg
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Who Would Finance Mortgages If Fannie, Freddie Disbanded?
Who Would Finance Mortgages If Fannie, Freddie Disbanded? Banks holding long-term mortgages on their books, as they did years ago, would be “a recipe for disaster,” says a professor of real estate and finance at Wharton. Read more on CNBC via Yahoo! Finance
Starting the Conversation on Fannie and Freddie
Starting the Conversation on Fannie and Freddie Reforming Fannie and Freddie is surely a good idea, but one likely consequence is higher-priced mortgages Read more on Time Magazine
Fannie Mae tightens lending standards
Fannie Mae tightens lending standards Battered by a tidal wave of loan defaults, mortgage finance company Fannie Mae is tightening standards for the adjustable-rate and interest-only loans that fed the housing boom and contributed to the bust. Read more on AP via Yahoo! News