Freddie Mac

Bank Of America To Pay Fannie Mae $3.6B, Buy Back $6.75B In Mortgages

Mark Memmott — Mon, 07 Jan 2013 13:39:00 +0000

Bank of America announced this morning that it will pay the Federal National Mortgage Association (Fannie Mae) $3.6 billion in cash and will buy back $6.75 billion worth of mortgages to resolve claims related to mortgage-backed securities sold to Fannie Mae by the bank and Countrywide Financial Corp.

Hidden Housing Subsidy May Soon Come Out Of Hiding

Fri, 16 Nov 2012 15:57:00 +0000

The federal government has all these ways of paying people to buy houses without actually, you know, paying people to buy houses.

We've talked a lot about two examples of this:

1. The mortgage-interest tax deduction is effectively a government payment to people who are paying a mortgage.

Freddie Mac Didn't Harm Homeowners, Inspector General Says

Marilyn Geewax — Wed, 26 Sep 2012 19:22:00 +0000

In January, NPR and ProPublica reported on a potential conflict of interest at Freddie Mac, a mortgage giant sponsored by the federal government.

Where The Bailouts Stand, In 1 Graphic

Mon, 10 Sep 2012 19:44:00 +0000

It's been four years since the U.S. launched a massive bailout of the financial system and the auto industry. While much of the bailout money has been paid back, the government still owns large shares in companies such as AIG and GM, and has yet to recoup some $200 billion in bailouts.

Here's a breakdown by industry.

The largest banks have repaid their bailouts, with interest. But the government has not recouped its bailouts of many mid-sized and small banks.

Fannie, Freddie Regulator Holds Firm Against Mortgage Write-Downs

Chris Arnold and Avie Schneider — Tue, 31 Jul 2012 21:20:00 +0000

A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.

Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.

NPR and ProPublica reported earlier this year that Fannie and Freddie had each determined that reducing principal for struggling borrowers would save money by preventing foreclosures.