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- Mark Levin: Topple GOP leadership or country will ‘unravel’
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- John Kerry condemns attack on Israeli soldiers, kidnapping
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- Israeli spokesman: No need to debate who broke the cease-fire
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Federal National Mortgage Association
Latest Federal National Mortgage Association Items
Fannie Mae and Freddie Mac, the two mortgage finance giants whose financial woes required massive taxpayer bailouts in recent years, could be missing out on as much as $4.6 billion in payments from foreclosed mortgages in their portfolios, a federal investigator said.
Washington's role in the housing crisis still hasn't hit home
It would be funny if it weren't so serious. The president has proposed to eliminate Fannie Mae and Freddie Mac, while at the same time proposing to put in place the same policies that caused the two government-sponsored enterprises to fail.
President Obama floated a plan Tuesday that he hopes will take some of the load off Fannie Mae and Freddie Mac in the financing of American homeownership.
President Obama on Tuesday sought to prod along a rare bipartisan effort in Congress by throwing his weight behind a Senate bill that would eliminate mortgage giants Fannie Mae and Freddie Mac but maintain a government guarantee on high-quality 30-year mortgages so that the popular instruments do not disappear from the marketplace.
Citigroup has agreed to pay $968 million to Fannie Mae to resolve potential future repurchase claims on residential mortgage loans that originated between 2000 and 2012.
Government-owned mortgage finance giants Fannie Mae and Freddie Mac would be shut down within five years so taxpayers are no longer "on the hook" for future losses, under a bipartisan housing reform bill introduced Tuesday in the Senate.
Standard & Poor's Corp. on Monday withdrew its threat to downgrade the U.S. government for a second time, citing an improving economy and declining budget deficits. But it said the U.S. still falls short of getting a AAA rating because the two bickering political parties refuse to bridge their differences and address long-term debt problems.
The government is already struggling to manage the more than 195,000 foreclosed homes it now possesses and is ill-prepared as a new wave of foreclosures looms on the horizon, according to federal watchdogs who paint a less rosy picture of the housing market than politicians.