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Taxpayers May Foot Fannie Mae Bill
A decision by Fannie Mae and its former auditor to settle a lawsuit filed by a group of Ohio pension funds could require taxpayers to pay Fannieís share of the $153 million settlement. The agreement comes after nearly a decade of legal skirmishing over Fannieís culpability in losses to the pension funds resulting from the firmís manipulation of its earnings.
posted 5/17/13 09:44 AM read complete story
GSE Top Tier Pay Needs Close Watching
Federal Housing Finance Agency officials should monitor the salaries of top Fannie Mae and Freddie Mac senior professionals more closely to help improve the bottom limes of both government-sponsored enterprises, the FHFA inspector general tells Congress in a new report.
posted 12/10/12 4:47 PM read complete story
Deal Reached To Thwart Foreclosures
Fannie Mae and Freddie Mac reach an accord with nine mortgage insurers to accelerate short sales and deed-in-lieu of foreclosures without seeking approval from the insurers. The move is initiated to allow homeowners to avoid foreclosure and preserve some of their credit rating.
posted 11/2/12 11:15 AM read complete story
Drugs Made In Foreclosed Home
An Oregon couple who bought a foreclosed house from Freddie Mac are out in the cold after discovering their home is poisoned by residues from methamphetamine manufacturing. The Freddie broker who sold the house was unaware of meth contamination and the buyers waived the right to a property inspection
posted 10/5/12 10:12 AM read complete story
No GSE Reform Any Time Soon
Lingering economic issues likely will forestall any reform of government-sponsored enterprises Fannie Mae and Freddie Mac until 2014 at the earliest. Thatís the conclusion of economists and housing market experts at a housing summit sponsored by the American Forum and the
posted 10/3/12 5:19 PM read complete story
GSEs Prevent 129,000 Foreclosures in 2Q
Fannie Mae and Freddie Mac completed 129,000 foreclosure preventions in the second quarter, bringing their year-to-date total to 275,100 modifications, the Federal Housing Finance Agency says.
posted 9/28/12 10:51 AM read complete story
Freddie Mac Shareholder Lawsuit Nixed
A lawsuit accusing Freddie Mac of misleading shareholders by understating its subprime mortgage exposure ahead of the 2008 housing market collapse is again dismissed in federal court. U.S District Judge John Keenan dismissed an earlier version of the lawsuit in March 2011 but gave shareholders a chance to amend their complaint.
posted 9/28/12 10:26 AM read complete story
Congress Eyes GSE Guarantee Fee Hike
Guarantee fees charged to lenders by Fannie Mae and Freddie Mac are headed for another increase if lawmakers decide to initiate a hike to help pay for tax cuts and thwart a sequestration of the federal budget next year. Congress approved an increase last year that
posted 9/5/12 5:18 PM read complete story
Recovery Ignites Fannie Mae Outlook
Housing moves to the recovery forefront in an otherwise dismal economic future portrayed in Fannie Maeís 2012 Economic Outlook. The firmís Economic & Strategic Research Group finds residential investment projected to contribute at least 0.2 percentage points to real gross domestic product this year. If it materializes, it will be residential
posted 8/24/12 11:50 AM read complete story
GSEs Push Bank Bad Debt Cost To $84B
Fannie Mae and Freddie Mac step up attempts to track and sell back faulty mortgages they bought from lenders during the housing bubble. The government-sponsored enterprises (GSE) attempt to pare the $190 billion bailout cost incurred after they were seized by the Treasury Department in 2008 and place in conservatorship.
posted 8/16/12 1:37 PM read complete story
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