CEO Daniel Mudd has been the chief executive officer of Fannie Mae since 2005. He is 47 years old. Follow Mr. Mudd and Fannie Mae in the news and blogs or share your own opinion about the company and its leadership.
Wall Street Journal
Fannie Mae predicts continued mortgage defaults through 2008 UPDATE Forbes, NY - 4 hours ago WASHINGTON (Thomson Financial) - Mortgage giant Fannie Mae (nyse: FNM - news - people ) said it expects continued mortgage defaults into next year will … Agency mortgage bonds lag Treasuries in rally Reuters Fannie Mae Profit Fell in 2006, Wall Street Journal Fannie Mae 2006 Earnings Down 35 Percent Washington Post Forbes - Forbes all 132 news articles
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The Money Times
Agency mortgage bonds lag Treasuries in rally Reuters - 1 hour ago NEW YORK, Aug 16 (Reuters) - Mortgage -backed securities backed by Fannie Mae and Freddie Mac lagged gains in US Treasury debt on Thursday as concerns about … Fannie Mae Profit Fell in 2006, Wall Street Journal Fannie, Freddie and the Housing Bust Wall Street Journal Freddie Mac takes steps to inject liquidity into Alt-A mortgage … Forbes Reuters - GlobeSt. com all 57 news articles
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“Increase” in portfolio size announced by OFHEO Director James B. Lockhart. OFHEO is providing Fannie Mae and Freddie Mac with additional flexibility in managing their mortgage portfolios to comply with the portfolio caps agreed to last year. (Agreed to last year is code for the settlement agreement entered into between the GSE, OFHEO and the SEC for accounting malfeasance. )
Flexibility, according to the OFHEO press release should not be confused with a “true increase” in portfolio size... Read Full Story
UPDATE: Mortgage Banker Pickett Leaving Fannie Mae Board CNNMoney.com - 2 hours ago WASHINGTON (AP)– Joe Pickett , a mortgage banker who has been a director of mortgage giant Fannie Mae (FNM) since 1996, is resigning from the board when … Statement by Stephen B. Ashley Chairman of the Fannie Mae Board of … CNNMoney.com Pickett leaving Fannie board CNNMoney.com all 23 news articles
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Last week we reported that Fannie Mae was looking for an increase in their portfolio size , which we later learned was rejected by OFHEO . Now, in a suprise move, Fannie Mae has opted not to raise more liquidity by foregoing the issuance of its August Benchmark Notes. Fannie Mae issued the following press release:
Statement by Janis Smith, Managing Director, Financial Communications, on Fannie Mae’s Decision to Forego Its August Benchmark Notes® Issuance
August 20, 2007
Fannie Mae... Read Full Story
New Vista Asset Management and Fannie Mae are teaming up to market foreclosures as affordable housing for minority and low- to moderate-income families. The initiative is part of New Vista’s proactive strategy to prevent further erosion of homeownership rates in minority neighborhoods that have been devastated by recent foreclosure trends. “New Vista is excited to work with Fannie Mae to create a new path to homeownership using these REO units. We believe our partnership will demonstrate a... Read Full Story
We recently posted an article Is Size Everything? Fannie Mae to Increase Portfolio Size which discussed Fannie Mae’s request to OFHEO to increase its portfolio size and the effect it would have on the financial markets. In that post we argued that the effect would be pyschological only, as the disruption in the credit markets has been for all things non Fannie and non Freddie. In the statement issued by OFHEO, rejecting Fannie Mae’s request, the OFHEO believed that such an increase was not... Read Full Story
Fannie, Freddie can help stabilize mortgage market as 'bad actors … Forbes, NY - 10 hours ago Fannie, which is the largest US buyer and guarantor of mortgages , has helped some 33000 struggling homeowners refinance $6 billion in mortgages since April. … US GSE mortgage bond sales soared to record in Aug Reuters Banks: Gauging the Subprime Spillover BusinessWeek Fannie Mae renews pitch to add liquidity to market by lifting … Forbes MSNBC - New York Times all 146 news articles... Read Full Story
Is the sky really falling? Maybe, when you consider a company like Thornburg is having trouble selling their jumbo loans on the secondary market and experiencing liquidity issues. Thornburg is actually a REIT that specializes in purchasing, originating, and securitizing adjustable rate jumbo mortgages with an average loan size of more than $800,000. Their borrowers tend to be affluent, and so far have been repaying loans on time at far better trends than the rest of the industry. Affluent... Read Full Story
