Freddie Mac

Freddie Mac

News and info on Freddie Mac, the US home mortgage lender.

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Written by jmalmberg on
As Chairman of the House Financial Services Committee, Barney Frank is one of the few people who actually had an opportunity to do something about the mortgage meltdown before it happened. He failed. In fact, when President Bush called for more regulation of Fannie Mae and Freddie Mac, Frank openly opposed him. As it turns out, he was involved with a sexual liaison with a Fannie Mae executive. Then, when the housing market collapsed, Frank had the audacity to blame President Bush and every other regulatory agency; taking none of the blame himself. Now, even after it has become glaringly apparent that one of ... Read Full Story
Written by mpinkeyes on
Some people just never learn their lesson and Barney Frank appears to be one of those people. The architect of the mortgage meltdown is once again asking Fanny Mae to ease up on their loan regulations . This is exactly what got us into this trouble in the first place. Even as the mortgage industry was in trouble Barney Frank denied that there was any problem with Freddie Mac and Fannie Mae. Even as President Bush and John McCain were trying to warn of the impending crisis Barney Frank was in denial. Somehow Barney Frank has avoided any mainstream criticism for the roll he ... Read Full Story
Written by caseythehost on
Image via Wikipedia Given that Barney Frank is one of the 5 people most responsible for the current housing collapse … how could anyone take him seriously anymore? Especially when he hasn’t learned his lesson, and is working to repeat history. clipped from www.reuters.com Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently [...] Read Full Story
Written by rikkus on
… or “Why We Need Congressional Term Limits”. At the very root of the current economic downturn was INTERFERENCE by Congress in bank lending practices… rules requiring lenders to provide mortgage loans to people who objectively did not qualify for them (that is, had a high probability of not repaying the loan)… and GUARANTEEING those risky loans (which led to many other bad practices, such as leveraging via mortgage-backed securities and such). It was an unsustainable scenario… one that ignored “real world” realities… and resulted in inevitable defaults. And that started a cascade of problems that we will be years trying to work out ... Read Full Story
Written by cbowler on
 Fool me once, shame on you. Fool me twice, shame on me. Barney Frank is at it again. He is asking Freddie Mac and Fannie Mae to relax their lending standards. This means Frank wants to repeat the same program that allowed all those people who couldn’t afford houses another chance to get into houses they can’t afford again. This is a recipe for more toxic assets. After debate with Bill O’Reilly on the subject denying this very thing, he is once again promoting easy loans for people who aren’t credit worthy. Congressman Frank asked the lending programs to make adjustments in a letter ... Read Full Story
ReutersFannie Mae, Freddie Mac bill sale calendarReutersJuly 1 - (Reuters) - The following is a list of scheduled US agency bill sales from Fannie Mae and Freddie Mac for 2009. Freddie Mac 1-month auctions are ...Fannie Mae May Portfolio Grows At 35.1% Annual RateWall Street JournalFannie Mae and Freddie Mac Refinances up to 125% loan-to-valueExaminer.comFHFA Authorizes Fannie Mae and Freddie Mac to Expand Home ...Real Estate ChannelReuters...  
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Slon.ru writes [ru] that global financial crisis started in the February, 2007. That month Federal Home Loan Mortgage Corporation (Freddie Mac) stopped the buying-out the subprime mortgages. A lot of American and European banks take up the lead of Freddie Mac in Summer, 2007. It leaded to the bankruptcy in the financial sector [...]  
From globalvoicesonline.org ()
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FHFA Authorizes Fannie Mae and Freddie Mac to Expand Home Affordable Refinance Program to 125 Percent Loan-to-Value (PDF; 92 KB) Source: Federal Housing Finance Agency he Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to expand the Home Affordable Refinance Program (HARP) to homeowners who are current on their mortgage payments from the [...]  
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The Obama administration on Wednesday broadened its refinance program for underwater borrowers, those who owe more than their homes are worth. Now, borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac and are current on their payments... Sponsored Topics: Fannie Mae - Freddie Mac - Refinancing - Business - Mortgage loan  
From sfgate.com ()
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ReutersFreddie Mac, FHLB, Fannie Mae 2009 note calendarReutersJuly 1 - (Reuters) - The following are scheduled sales announcement dates for potential Freddie Mac benchmark notes, Freddie Mac reference notes and REMICs, ...Freddie Mac gets $6.1B from TreasuryBizjournals.comFreddie Mac gets another $6.1B from gov'tThe Associated PressHey there, underwater borrowers: Want a refi?Baltimore SunSeattle Post Intelligencer -TheStreet.com -Reutersall...  
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This headline from FHFA yesterday. The full report is here.This is incredibly flawed policy. The Government mortgage Agencies have created a window whereby borrowers can automatically get upside down on a loan. This is reckless lending and should not be permitted. This is much worse than any lending standard that existed in the go-go sub prime era. There is a mountain of evidence from academia, the government Agencies themselves and the...  
From seekingalpha.com ()
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Freddie Mac (NYSE:FRE) said Wednesday that Charles E. Haldeman Jr., former chairman of Putnam Investments, is the likely candidate for its new CEO. The 60 year old Haldeman will be subject to approval by the Federal Housing Finance Agency or FHFA, which regulates Freddie Mac and Fannie Mae (NYSE:FNM). ...  
From hispanicbusiness.com ()
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SAN FRANCISCO (MarketWatch) -- Freddie Mac's board has made Charles "Ed" Haldeman its prime candidate for chief executive officer, according to a report published late Tuesday. The online edition of The Wall Street Journal, citing unnamed sources, reported that Haldeman's appointment as CEO of the government-backed mortgage company is subject to approval by the Federal Housing Finance Agency and the U.S. Treasury. Haldeman recently stepped...  
From marketwatch.com ()
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Sold At The Top submits: Decades from now the summer of 2008 will likely be remembered as the turning point where legislative blundering took an otherwise serious financial crisis and molested it into an epic financial collapse.By fully assuming the liabilities of Fannie Mae (FNM) and Freddie Mac (FRE), the two colossal and corrupt (and conduit of corruptness funneling junk Countrywide Financial (BAC) loans onto the implied balance sheet of...  
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"Fannie Mae and Freddie Mac will begin refinancing mortgages with loan-to-value ratios of as much as 125 percent," up from the current 105 percent limit in a bid boost participation in anti-foreclosure programs. But the basic question of whether or...  
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