Fannie Mae and Freddie Mac. What cute-sounding names. They suggest adorable siblings, not twin financial disasters that may cost $1 trillion when we get the final bill.
According to Edward Pinto, Fannie Mae’s former chief credit officer, in 2008 the two government-supported mortgage finance companies, along with the Federal Housing Administration [...]
Posts Tagged ‘freddie Mac’
Kotlikoff: How to Fix the Mortgage Mess
January 17th, 2011 by Financial Writer
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more...Mortgage-Bond Slump ‘Won’t Be Fun’ for Housing: Credit Markets
December 13th, 2010 by Financial Writer
A slump in government-backed mortgage securities that’s sent yields to the highest level since May is threatening a recovery in the U.S. housing market, which had been bolstered by record-low borrowing costs.
Yields on Fannie Mae-guaranteed securities that most affect loan rates jumped as high as 4.21 percent today, an increase [...]
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It’s still the economy
July 20th, 2010 by Financial Writer
President Barack Obama, working with Democratic majorities in the House and Senate, accomplished many of the priorities on which he campaigned. Yet most every political observer expects the Democrats to lose seats in the November House and Senate elections, perhaps many of them.
The explanation derives from the fact that many voters supported Mr. Obama, and [...]
Tags: barack obama, central bank, economic, economists, fannie Mae, financial markets, financial system, freddie Mac, us, us economic, us economy, us stocks, wall street
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
US extends guarantees on Fannie, Freddie through 2012
December 26th, 2009 by Financial Writer
The US Treasury said Thursday it would extend guarantees to Fannie Mae and Freddie Mac through 2012 to allow the government-sponsored mortgage finance giants to weather any new crisis.
A new, amended agreement lifts a cap of 200 billion dollars in aid that can be pumped into each of the two firms, and gives the government [...]
Tags: fannie Mae, freddie Mac, Global Financial, housing, mortgage finance