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By Ted Cruz
Israel saves its enemies; Hamas endangers its friends
Topic - Federal Home Loan Mortgage Corporation
Sen. Mike Crapo, Idaho Republican, has been in a yearlong tug of war to revamp the nation’s $10 trillion mortgage market.
Standard & Poor's Corp., one of Wall Street's top credit agencies, said Tuesday that the fragile housing recovery cannot continue without support from Fannie Mae and Freddie Mac, the two mortgage finance giants many in Congress seem bent on eliminating.
Recent editorials from South Carolina newspapers:
Attorney General Martha Coakley is threatening to sue the Federal Housing Finance Agency for refusing to comply with a state law designed to help stem foreclosures.
Mortgage giant Freddie Mac posted net income of $4 billion for the January-through-March period, helped by a strengthening housing market. The government-controlled company has turned a profit in each of the past 10 quarters.
Government-controlled mortgage financers Fannie Mae and Freddie Mac posted solid earnings for the January-March period as the U.S. housing market continued to recover. Gains over recent quarters have enabled the companies to fully repay their taxpayer aid after being rescued by the government in 2008.
Nationalizing health care, which represents one-sixth of the economy, has been nothing short of a disaster. The Senate will vote Tuesday to establish a permanent federal presence in housing, which represents another one-sixth of the economy.
Stepped-up demands from liberal Democrats and conservative Republicans are threatening the prospects for legislation to revive and reform the private mortgage market, six years after it collapsed and largely disappeared during the Great Recession.
Bank of America agreed to pay $9.33 billion to put to rest a long-running mortgage securities dispute with the Federal Housing Finance Agency, which accused the lender of falsely representing loans that went south when the housing bubble burst.
In a fresh sign that lessons from the financial crisis six years ago haven’t been fully heeded, the government-backed mortgage giants Fannie Mae and Freddie Mac bought billions of dollars of mortgages last year despite red flags suggesting something could be wrong with their appraisals, investigators disclosed Thursday.
Morgan Stanley said Tuesday that it has agreed to pay $1.25 billion to resolve a lawsuit over mortgage securities with the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac.
Henry M. Paulson Jr., the financial firefighter stationed at the epicenter of the biggest financial crisis since the Great Depression, worries that the nation is headed for another crisis because political leaders failed to learn critical lessons from the last one from 2008.
Fannie Mae and Freddie Mac have been in federal conservatorship since 2008. Should these government-sponsored housing enterprises — essentially broke — still be required to spend taxpayer money to fund activities of housing advocacy groups?
Fannie Mae and Freddie Mac, the housing giants whose combined $188 billion bailout dwarfed all others during the 2008 financial crisis, announced Thursday that they will return another $39 billion in dividends to the U.S. Treasury next month, bringing them close to fully repaying the taxpayers who rescued them.