By Rand Paul
Obama acts as though we no longer have a Constitution
Despite receiving billions of dollars through a federal bailout, mortgage giant Freddie Mac continues to ignore its customers when they lodge serious complaint about fraud or rule-breaking, leaving taxpayers potentially exposed to new threats, investigators warn.
Median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year, according to a new government report released Monday.
U.S. mortgage giant Fannie Mae reported its first net income gain since it was taken over by the government during the 2008 financial crisis.
The federal regulator who oversees Fannie Mae and Freddie Mac is softening his position against allowing the mortgage giants to reduce principal for U.S. borrowers at risk of foreclosure.
Prosecutors have asked a federal judge in North Carolina to bar those in the upcoming trial of former presidential candidate John Edwards from mentioning his poor health because of concern it could create sympathy among jurors.
Mortgage giant Fannie Mae said Wednesday that it lost money in its fourth quarter and is asking the federal government for $4.57 billion in aid to cover its deficit.
The government regulator for Fannie Mae and Freddie Mac has submitted a plan to Congress that would shrink the mortgage giants' role in the housing market.
Top Federal Reserve officials are prodding the White House and Congress to take more aggressive action to stop the free-fall in the housing market, warning that the U.S. economy will remain sluggish and vulnerable and will not fully recover until housing returns to better health.
The executive who was appointed to lead mortgage giant Fannie Mae in 2009 after the federal government seized the company plans to step down as its CEO.
As of this writing, the recently announced changes to the Home Affordable Refinance Program (HARP) have yet to be implemented by many lenders.
A government watchdog said Fannie Mae and Freddie Mac improperly foreclosed on homeowners and cost the government billions of dollars by not holding major banks to strict underwriting requirements.
The government regulator of Fannie Mae and Freddie Mac said Thursday that million-dollar bonuses paid to executives at the companies were necessary to keep the mortgage giants running.
Mortgage bankers are hailing the Obama administration's decision Monday to begin yet another attempt to help "underwater" homeowners who are current on their payments to refinance and avoid foreclosure.
President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term.
In recent columns, I have expressed my frustration over the overreaction to the mortgage meltdown and how it has resulted in an overtightening of mortgage underwriting guidelines.
