As I’ve noted on the blog, since the government took over Fannie Mae and Freddie Mac in September 2008, their roles in the housing market have changed dramatically. They aren’t profit-motivated, but stability-motivated, a government liquidity instrument to make sure mortgages remain affordable despite the credit crunch and housing More…
This morning, Fannie Mae — a government-sponsored enterprise that buys mortgages on the secondary market and that made $72 billion in losses last year — reported a first-quarter loss of $13.1 billion. The company, under a governmental conservatorship, said it would seek $8.4 billion from the Treasury.
The More…
For months, Republicans have insisted that Congress should deal with Fannie Mae and Freddie Mac — the government-sponsored enterprises backstopping 90 percent of mortgages, which have received around $125 billion in taxpayer aid — in financial regulatory reform.
But their financial regulatory reform counterproposal offered little by way of More…
Of all the interesting tidbits in Brett Arends’ article in The Wall Street Journal about how to decide whether to walk away from your mortgage, his admission that the middle class is the only part of America adhering to standards of personal financial responsibility might be the most More…
On the heels of our report detailing short-sale flipping and other kinds of mortgage fraud that are on the rise, the Federal Housing Administration plans to announce it will tighten lending standards to try to stem rising defaults.
The Washington Post reports Housing and Urban Development Secretary Shaun More…
This should sound familiar: Growing losses on Federal Housing Administration-backed mortgage loans are prompting fears the agency will be next in line for taxpayer help, The Wall Street Journal says.
The Federal Housing Administration, hit by increasing mortgage-related losses, is in danger of seeing its reserves fall below the
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