Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing "critical" financial problems, federal regulators said Monday.
Fannie Mae, the troubled mortgage finance company, reported a first-quarter loss of $23.2 billion on Friday.
While the jury's out on President Obama's decision to sub Fritz Henderson for Rick Wagoner as CEO of GM, the shift doesn't matter because the bailout is suspect. The reason? Of all the models the federal government could have picked for restructuring the automaker, it picked Fannie Mae and Freddie Mac.
Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
Hammered by the ailing housing market, mortgage finance giant Fannie Mae said Thursday it would tap its lifeline from the Treasury Department after reporting $58.7 billion in losses for 2008.
Fannie Mae and Freddie Mac won't be leaving the federal government's nest anytime soon.
The White House is using only $50 billion from the $700 billion financial industry bailout package to fund the foreclosure prevention program, a senior administration official clarified Friday.
As required by the federal bailout law, the Federal Reserve will look to prevent foreclosures by modifying the terms on certain delinquent loans, lawmakers said Tuesday.
The federal regulator of Fannie Mae and Freddie Mac will set new rules early next week governing the mortgage finance companies' portfolios, which play a crucial role in the nation's housing market.
Washington policy makers have taken aim at one of the main contributing causes to the housing crisis: inflated appraisals.
Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing "critical" financial problems, federal regulators said Monday.
Fannie Mae, the troubled mortgage finance company, reported a first-quarter loss of $23.2 billion on Friday.
While the jury's out on President Obama's decision to sub Fritz Henderson for Rick Wagoner as CEO of GM, the shift doesn't matter because the bailout is suspect. The reason? Of all the models the federal government could have picked for restructuring the automaker, it picked Fannie Mae and Freddie Mac.
Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
Hammered by the ailing housing market, mortgage finance giant Fannie Mae said Thursday it would tap its lifeline from the Treasury Department after reporting $58.7 billion in losses for 2008.
Fannie Mae and Freddie Mac won't be leaving the federal government's nest anytime soon.
The White House is using only $50 billion from the $700 billion financial industry bailout package to fund the foreclosure prevention program, a senior administration official clarified Friday.
As required by the federal bailout law, the Federal Reserve will look to prevent foreclosures by modifying the terms on certain delinquent loans, lawmakers said Tuesday.
The federal regulator of Fannie Mae and Freddie Mac will set new rules early next week governing the mortgage finance companies' portfolios, which play a crucial role in the nation's housing market.
Washington policy makers have taken aim at one of the main contributing causes to the housing crisis: inflated appraisals.
Mortgage giants Fannie Mae and Freddie Mac have extended a moratorium on foreclosure suspensions for another three weeks, directing the mortgage servicers they work with to postpone any foreclosure or eviction proceedings through January 31.
Fannie Mae, the battered mortgage giant, has agreed to act as an interim landlord for thousands of tenants living in foreclosed homes around the country.
Imagine faithfully paying your rent month after month, and then having a sheriff at your door telling you that your family has to leave - immediately.
A House committee trying to uncover the roots of the credit crisis on Tuesday grilled several former CEOs of mortgage finance giants Fannie Mae and Freddie Mac.
Stocks tumbled Tuesday morning as a profit warning from FedEx and some buyer's remorse after a two-session rally sent stocks tumbling in the early going.
Loan modifications for homeowners in trouble: there are a lot of proposals out there. But what's the best way to go about reworking your mortgage terms? Here's what you need to know.
The feds are trying once more to resuscitate the mortgage market. But history shows reviving this patient won't be easy.
Freddie Mac reported a $25 billion quarterly loss Friday that forced the mortgage finance giant to tap $100 billion in bailout money set aside by the government.
Mortgage giants Fannie Mae or Freddie Mac may back 30 million mortgages. But that doesn't mean that the new foreclosure prevention program announced this week by the Bush administration will rescue every troubled borrower on their books.
The federal government's plan to streamline modifications of troubled loans held by Fannie Mae and Freddie Mac won't help the majority of people threatened with foreclosure, experts said.
The Bush administration on Tuesday unveiled a new program to modify mortgages and stabilize the battered real estate market, but the plan stops short of providing direct government financial help to at-risk homeowners.
Stocks slumped Monday, as ongoing recession fears overshadowed any relief about China's $586 billion stimulus plan and the government's revamping of its deal with AIG.
Troubled mortgage-finance giant Fannie Mae reported on Monday that it lost $29 billion in the most recent quarter, putting the firm closer to having to draw on the $100 billion in taxpayer dollars committed to it in September.
In a time when closures or panicked liquidations of name-brand hedge funds have become commonplace, the opening of a $1 billion fund trading mortgage-backed securities and other types of credit should attract more than a few raised eyebrows.
Federal Reserve Chairman Ben Bernanke said Friday that the federal government will need to continue to play a role in the future of the mortgage financing market.
Falling house prices are still a problem. Could Fannie Mae and Freddie Mac be part of the solution?
With two more countries entering the global fight to stem the world's financial crisis, lending rates continued to fall Monday, signaling the worldwide effort was easing the stranglehold on lending.
Low mortgage rates, the one bright spot in a devastated housing market, are on a rapid rise.
Many Americans today are asking themselves how the economy got to be in such a bad spot.
The numbers are big. That much is certain.
Far from stabilizing the financial system, the federal bailout barrage appears to have left investors shell-shocked.
U.S. treasurys rose on Monday after a government bailout of mortgage giants Fannie Mae and Freddie Mac drove down mortgage rates.
Mortgage finance giant Fannie Mae shook up its executive ranks after shares in it and Freddie Mac rose for a third straight day as investors appeared less certain a government bailout of the two troubled companies is imminent
Rallying financial and energy stocks pushed Wall Street higher Wednesday, after a choppy session dictated by fluctuating oil prices and fears that Fannie Mae and Freddie Mac are on the brink of a government takeover.
Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality
Fannie Mae swung to a second-quarter loss that was more than triple what Wall Street expected as conditions in the housing market continued to deteriorate
Congress passed the most significant housing legislation in decades Saturday, offering help to struggling homeowners and seeking to stabilize a troubled housing market
Treasury prices fell Tuesday as the president of the Philadelphia Federal Reserve said inflation needs to be corrected "sooner rather than later."
Fannie Mae and Freddie Mac were created to help individuals realize the American dream of home ownership, but they now find their survival at risk in the U.S. mortgage crisis.
Originally created to bail out banks during the Great Depression, the two giant mortgage companies are struggling due to a modern-day housing meltdown -
The dollar regained a little lost ground against most foreign currencies Monday as traders cheered the U.S. government's plan to rescue ailing mortgage finance firms Fannie Mae and Freddie Mac.
The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac
Anxiety over a possible government takeover of Fannie Mae and Freddie Mac sent financial stocks into a virtual tailspin Friday.
Stocks tanked Wednesday, with the Dow losing 237 points, as more worries about Freddie Mac and Fannie Mae's ability to raise capital exacerbated credit market and corporate profit jitters.
Shares of mortgage financing giants Fannie Mae and Freddie Mac both plummeted Monday after an analyst with Lehman Brothers wrote in a report that the two companies may need to raise billions of dollars if accounting rules are changed.
Stocks gained Tuesday as investors looked beyond record-high oil prices and big losses at financial firms and instead continued to bet that the economy is stabilizing and the worst of the credit crisis is over.
The Federal Reserve on Tuesday announced yet another measure to pump more liquidity into the jittery financial markets.
Stocks tanked and bonds rallied Thursday as investors eyed the latest wave of credit market woes and opted to dump equities and scoop up the relatively safer government debt.
Stocks rallied at the start of trading Wednesday as talk of further interest rate cuts grew.
Could Fannie Mae be the next large financial company to announce billions of dollars of market losses on bonds backed by distressed mortgages?
Fannie Mae sought to reassure nervous investors Friday after questions arose about a key change in the way the mortgage lender discloses its bad loans -- and whether the shift is camouflaging mounting losses.
Investors might want to take a closer look at Fannie Mae's latest earnings report. Lost in the unsurprising news of the mortgage lender's heavy losses was a critical change in the way the company discloses its bad loans -- a move that could mask that credit losses that are rising above levels that the company predicted just three months ago.
The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market.
Fannie Mae, the nation's largest source of home loan funding, increased its share of risky subprime loans through 2006, although to a smaller degree than other institutions, the company said Thursday.
Fannie Mae told regulators Thursday that it will not be able to file its its quarterly report on form 10-Q for the quarter ended June 30 in time.
A series of speakers at a Congressional hearing of the House Financial Services Committee on Tuesday called for restructuring adjustable rate mortgage (ARM) loans to help solve the subprime mortgage crisis.
Mortgage applications fell as interest rates rose across the board, an industry trade group reported Wednesday.
Mortgage applications fell as interest rates rose across the board, an industry trade group reported Wednesday.
Mortgage applications rose as interest rates recovered slightly from last week's 14-month low, an industry trade group reported Wednesday.
Technology shares slumped, dragging down the broader market at the end of a tumultuous session dominated by concerns about the November employment report, due Friday.
Stocks opened higher Thursday morning, pushing the Dow industrials above their record closing high hit last month, as investors eyed news from Home Depot and Fannie Mae.
Fannie Mae and Freddie Mac were adequately capitalized at the end of the third quarter, the regulator charged with overseeing the mortgage giants said Friday.
Banks, looking to squeeze as much as they can out of the real estate boom, are upping loan limits for the typical consumer mortgage ahead of their traditional schedule.
SALEM, Ore. (CNN/Money) - "House rich, cash poor" is a common predicament for older Americans whose homes have appreciated in value while their incomes have failed to keep up with rising healthcare costs, property taxes and other living expenses.
On a sunny Monday in June 2002, President George W. Bush stood in the St. Paul AME Church in a formerly dilapidated neighborhood on the south side of Atlanta. Sitting in prime seats were Franklin R...
WASHINGTON -(Dow Jones)- Fannie Mae (FNM) officials were warned in late 1998 that a Fannie-approved lender the company suspected of fraud was trying to pass off problematic loans to Ginnie Mae, according to a letter the company recently sent to House lawmakers.
The National Association of Home Builders warned that mortgage rates will rise if new legislation undermines the "implied guarantee" of Fannie Mae and Freddie Mac, according to a published report Monday.
Stocks drifted higher Thursday as investors digested a fresh batch of economic numbers on the last trading day before the Christmas holiday.
Fannie Mae ousted CEO Franklin Raines and finance chief Timothy Howard after regulators found accounting problems at the giant mortgage company.
Rosy news about the job market notwithstanding, few employees are counting on hefty raises, big bonuses or stock option awards any time soon.
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