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Federal National Mortgage Association
Latest Federal National Mortgage Association Items
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.
As a Realtor in Orange County, California, Gary Thomas lives at the epicenter of the last decade’s epic housing boom and bust that is only now beginning to release the economy from its withering grip.
Fannie Mae will return nearly $59 billion to taxpayers after experiencing its best-ever profits last quarter, the mortgage giant announced Thursday.
Fannie Mae, the mortgage finance giant that was bailed out by the federal government five years ago, posted in 2012 its first annual profit since before the housing crisis and the largest in company history.
The U.S. banking industry suffered two big hits Monday stemming from the collapse of the housing bubble, with 10 banks and mortgage lenders agreeing to pay $8.5 billion in a settlement with federal regulators, while Charlotte, N.C.-based Bank of America agreed to a separate settlement with Fannie Mae over bad housing loans that its controversial lending subsidiary sold to the federal housing finance giant.
Bank of America has reached a settlement with Fannie Mae on residential mortgage loans sold by the bank and its Countrywide unit to the agency ahead of the nation's 2008 financial crisis.
You may have been reading how the Federal Reserve has been buying huge quantities -- almost a trillion dollars' worth -- of "mortgage-backed securities" (MBS).
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.
It is time to pull the plug on Fannie Mae and Freddie Mac. Before they failed in 2008, both had moved well beyond their original raison d'etre: Providing low-cost funds to the housing market by packaging mortgages into bond issues and selling them to investors. Their investments in their own and others' high-risk mortgage bonds failed spectacularly. The government was forced to take them over, costing taxpayers hundreds of billions of dollars.