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.
After taking control of mortgage giants Fannie Mae and Freddie Mac , the U.S. government told their former chief executives that the "'golden parachute' payments contemplated under their contracts would not be paid." The executives, Daniel Mudd and Richard Syron, "together were eligible to receive as much as $25 million" in severance -- or "golden parachute" -- payments, reports the Washington Post . Imagine what would have happened if Mudd and Syron had not "hired two of the nation's best... Read Full Story
A new housing rescue plan from the administration targets some of the most troubled homeowners. 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 Housing Finance Agency (FHFA), which took control of Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) in September, together with... Read Full Story
While President Bush urges lawmakers of his own party in the House to back a $700 billion bailout of Wall Street. The Federal Deposit Insurance Corp. seized WaMu, one of the nation's largest banks. Washington Mutual Inc. overnight imploded under the weight of its enormous volume of bad mortgages, the FDIC then sold the assets to JPMorgan Chase & Co. for $1.9 billion Banks and brokerage houses are falling and merging so fast they look like Gladiators having a bad run of luck against a... Read Full Story
Here is an article from 1999 talking about Fannie Mae pressuring banks to offer subprime mortgages under pressure themselves from Bill Clinton. The CEO at the time was Raines. "In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the... Read Full Story
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WASHINGTON - Fannie Mae says three top executives are leaving as the mortgage finance company aims to cope with mounting losses from the mortgage crisis... Read Full Story
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Hey, can you even blame all the stupid people saying stupid things about today's Freddie Mac Fannie Mae bailout? This whole thing has been stupid ever since someone decided to call it the Federal National Mortgage Association. Who names something "Federal National?" Anyway, the good news is, no one understood any of this shit back in 1968 when they "privat 8 Vote(s) Read Full Story
By Dr. Steve Sjuggerud
September 22, 2008
Two weeks ago, I told you something foolish…
I told you about the best investment to make if the Feds took over Fannie Mae and Freddie Mac. But that was silly… nobody really thought the government was about to take them over.
Then it happened… that weekend.
The stock I recommended – Annaly Capital Management (NLY) – moved from $15 up as high as $17.
It came back down a bit on Friday, but I think Annaly shareholders are exactly where they... Read Full Story
