Freddie Mac – News Stories About Freddie Mac - Page 8

MARKETS

Jul 10, 2008 3:39 PM CDT

Lender Woes Keep Lid on Gains

Financials rally as outlook darkens for government lenders

(Newser) - The markets ended with modest gains today, led by a rally in financials despite continued anxiety over the future of Freddie Mac and Fannie Mae, MarketWatch reports. Treasury chief Henry Paulson and Ben Bernanke's call for greater regulatory powers encouraged investors. The Dow gained 81.58 points to 11,229....

Feds Mull Possible Bailout
for Freddie and Fannie

Jul 10, 2008 9:49 AM CDT

Feds Mull Possible Bailout for Freddie and Fannie

The 2 mortgage giants continue to suffer with huge stock slides, losses

(Newser) - With the shares of mortgage titans Fannie Mae and Freddie Mac plummeting to their lowest points in more than 15 years, the Bush administration is weighing what to do in the event of a collapse, reports the Wall Street Journal. No rescue plan is imminent—both companies are expected to...

Fed to Crack Down on Subprime Loans

Jul 8, 2008 8:26 AM CDT

Fed to Crack Down on Subprime Loans

Also plans to extend low-cost overnight loan program for banks

(Newser) - The Federal Reserve will issue new rules next week restricting subprime lending and other exotic loans aimed at borrowers with weak credit, Ben Bernanke said today. He said the Fed is also considering extending the overnight low-cost loan program, which helps big banks in need of quick cash, a sign...

Oil Drops, but Rally Fades

MARKETS

Jul 7, 2008 3:38 PM CDT

Oil Drops, but Rally Fades

S&P 500 off 20% from October high

(Newser) - The markets saw modest losses today after a rally spurred by a drop in crude prices sputtered over capital concerns at Fannie Mae and Freddie Mac, MarketWatch reports. The Dow fell 56.58 to 11,231.96, the Nasdaq dropped 2.06 to 2,243.32, and the S&P...

Countrywide 'Bailout' Is Dem Chicanery

OPINION

Jun 18, 2008 1:33 PM CDT

Countrywide 'Bailout' Is Dem Chicanery

Left is extending crisis by irresponsibly aiding its pals, Armey says

(Newser) - Congressional Dems are selling their $300 billion bill granting new taxpayer loan guarantees as a boon to homeowners, but Dick Armey sees more cynical motives in the “bailout” legislation. The former House majority leader writes in the Journal, pegging the recent revelations of sweetheart Countrywide loans for top (Dem)...

Treasury Boss: Worst Is Over

May 7, 2008 2:45 AM CDT

Treasury Boss: Worst Is Over

Paulson says US emerging from storm

(Newser) - The US is emerging from the credit woes triggered by the turmoil over subprime mortgages—despite the continuing wave of foreclosures across the nation, according to Treasury Secretary Henry Paulson. Paulson, in the most positive comments yet from the White House on the nation's economic troubles, in part credited the...

Big Fannie Mae Losses Prompt Fears of Failure

May 6, 2008 8:16 AM CDT

Big Fannie Mae Losses Prompt Fears of Failure

Crash would be big blow to US economy, housing market

(Newser) - Fannie Mae lost a worse-than-expected $2.2 billion this quarter, forcing it to cut its dividend and seek $6 billion in capital. The news is especially troubling as Fannie and Freddie Mac, the companies Washington relies on to keep the housing market functioning, are under unprecedented pressure, the New York ...

Dow Jumps 261, Ends Week Up

MARKETS

Mar 20, 2008 3:54 PM CDT

Dow Jumps 261, Ends Week Up

Eased worries on liquidity nearly erase yesterday's dive

(Newser) - Stocks enjoyed a steady rally today off of surprisingly good manufacturing data and renewed investor confidence in Fannie and Freddie Mae, achieving the first weekly gain in a month, since the market is closed tomorrow, the Wall Street Journal reports. The Dow rose 261.66 points, ending at 12,361....

Freddie, Fannie Rules Eased to Boost Housing Market

Mar 19, 2008 2:53 PM CDT

Freddie, Fannie Rules Eased to Boost Housing Market

Regulators reduce capital surplus required of firms

(Newser) - Fannie Mae and Freddie Mac will be able to buy more mortgages after the amount of capital they're required to hold as a cushion was cut from 30% to 20% today, the Wall Street Journal reports. The move by the Bush administration should pump up to $200 billion of liquidity...

Feds Boost Mortgage Limits

Mar 6, 2008 6:10 PM CST

Feds Boost Mortgage Limits

Ceiling on loans backed by Fannie Mae, Freddie Mac goes to $729K in 70 counties

(Newser) - Government-backed mortgage guarantors Fannie Mae and Freddie Mac can now back loans up to $729,750, the Wall Street Journal reports, after the Federal Housing Administration put into effect that provision of the federal economic stimulus package today. More than 70 counties in the US are subject to the new...

Depression-Era FHA Tries to Save Mortgages

Mar 6, 2008 1:00 PM CST

Depression-Era FHA Tries to Save Mortgages

Long-sidelined agency now a central player in the credit crisis

(Newser) - It’s been a while since the Federal Housing Administration was relevant. But now policymakers are counting on the Depression-era agency, which mostly insures mortgages, to once again solve a housing crisis. FHA-insured loans are swiftly becoming substantially cheaper than their Fannie Mae or Freddie Mac backed counterparts. “The...

Fannie,
Freddie OK Appraisal Deal

Mar 4, 2008 8:20 AM CST

Fannie, Freddie OK Appraisal Deal

New code will discourage inflated appraisals for home mortgages

(Newser) - The nation’s two largest backers of home loans have reached a deal with New York Attorney General Andrew Cuomo that could help eliminate inflated mortgage appraisals, the Wall Street Journal reports. Fannie Mae and Freddie Mac have agreed to buy mortgages only from banks that follow a new code...

Freddie Mac Reports Record $2.45B Loss

Feb 28, 2008 10:27 AM CST

Freddie Mac Reports Record $2.45B Loss

Rising defaults break mark mortgage investor set ... last quarter

(Newser) - Freddie Mac, the nation’s second-largest mortgage finance company, lost $2.45 billion in 2007's fourth quarter, topping the record $2.02 billion it lost the previous quarter, Bloomberg reports. Freddie’s CEO predicted still-greater losses ahead as loan defaults take their toll, but said the company had raised enough...

Fannie Mae Loses Billions in Q4

Feb 27, 2008 10:48 AM CST

Fannie Mae Loses Billions in Q4

Government-backed lender off $3.56B, but feds lifts restraints on portfolio

(Newser) - Fannie Mae reported huge fourth-quarter losses today, painting an ugly picture both of the economy and the mortgage giant's own future. The company lost $3.56 billion—triple what analysts expected, Bloomberg reports. Derivatives were the big culprit, accounting for $3.33 billion in losses, but the company also reported...

SEC Probes WaMu Home Loans

Dec 21, 2007 4:06 AM CST

SEC Probes WaMu Home Loans

Investigators focus on charges that appraisals were inflated

(Newser) - Washington Mutual, one of America's largest mortgage lenders and the biggest savings and loan in the nation, is under investigation by the Securities and Exchange Commission, reports the Wall Street Journal. Regulators suspect some WaMu mortgages were based on inflated appraisals. WaMu, bloodied by the subprime mortgage crisis, lost $348...

Freddie Mac Chief: Housing Market Will Get Worse in 2008

Dec 12, 2007 11:14 AM CST

Freddie Mac Chief: Housing Market Will Get Worse in 2008

Tells investors to expect losses in fourth quarter

(Newser) - Predicting even tougher times for the US housing market, Freddie Mac chief Richard Syron yesterday told investors in New York that the government-sponsored mortgage lender would report another net loss in the fourth quarter and credit losses to $12 billion on its mortgage portfolio, reports the Financial Times. Freddie Mac...

Freddie Mac Loses $2B, Seeks Cash

Nov 20, 2007 8:51 AM CST

Freddie Mac Loses $2B, Seeks Cash

No. 2 mortgage lender's capital is close to regulatory minimum

(Newser) - Freddie Mac, the second-largest US mortgage lender, lost $2.02 billion this quarter, its worst quarter ever, the company said this morning. With core capital almost below its regulatory minimum, the company is looking for fast cash, hiring Goldman Sachs and Lehman Brothers to help bail it out, and “...

Bernanke Sees More Housing Pain, ‘Relatively Strong’ System

Sep 20, 2007 2:57 PM CDT

Bernanke Sees More Housing Pain, ‘Relatively Strong’ System

Foreclosures continue, but market OK overall

(Newser) - Federal Reserve chairman Ben Bernanke went before Congress today, two days after trimming the benchmark lending rate, and said new foreclosures will come as more subprime mortgages run out clocks on initial interest rates. Markets “do tend to self-correct” in crises, the economic guru said, and the global system...

Stocks Keep Up Rate-Cut Rally

Sep 19, 2007 3:39 PM CDT

Stocks Keep Up Rate-Cut Rally

iPhone sales spur market on

(Newser) - The stock market kept rising one day after the Fed slashed key interest rates, as speculation that the housing slump might ebb compounded the biggest rally in four years. The Dow climbed 76.17 to 13815.56, while the Nasdaq rose 14.82 to close at 2666.48 and the...

Bush Promises Mortgage Relief

Aug 31, 2007 2:52 PM CDT

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

(Newser) - The government will roll up its sleeves and aid homeowners battered by the subprime mortgage crunch, but it will forsake “speculators” trying to exploit the crisis, President Bush said today. The FHA will step in and help delinquent borrowers avoid foreclosure by refinancing at lower rates, but experts predict...