Why We May Never See 3% Mortgage Rates Again
Those who didn't take advantage of record-low mortgage rates have missed the boat -- at least for now. Here's why.
Freddie Mac
Want to Refinance Your Student Loans? The CFPB Wants to Help
The Consumer Financial Protection Bureau wants to help people struggling with heavy student loan debt get the same kind of ability to refinance that mortgage-holders have.
5 Things You Must Know About Mortgages
Even after the housing crisis, many potential buyers still don't know even the most basic things about mortgages. Here are five essential facts about financing a home.
Fannie Mae Posts Record $60B Quarterly Profit
Mortgage-backer Fannie Mae will pay a dividend of $59.4 billion to the U.S. Treasury next month, a feat thought unthinkable just a few years ago following a federal bailout.
Court: U.S. Can Pursue Case Against BofA Over Mortgages
A federal judge rules that the U.S. can pursue parts of a civil lawsuit against Bank of America for its sale of toxic mortgages to Fannie Mae and Freddie Mac.
Freddie Mac Posts Near-Record Profit in First Quarter
Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market.
Should We Get Rid of Fannie Mae and Freddie Mac?
What if Fannie Mae and Freddie Mac, the government-owned housing agencies that backstop so many of the nation's mortgages, ceased to exist? A new report from an influential bipartisan think tank says that's what should happen.
Her Financial Goal: Getting an Underwater Mortgage Afloat Again
Everyone has things they want to improve about their financial lives -- and we at DailyFinance are no exceptions. So we asked money expert Jean Chatzky for advice on how to reach our goals. Today: A photo editor looking to modify an underwater mortgage.
Fannie Mae, Freddie Mac Managers' Median Pay: $200,000 a Year
A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. The Federal Housing Finance Agency, which oversees the two mortgage giants, also did an inadequate job monitoring pay, according to the report.
Hurricane Sandy Victims: Disaster Relief Programs You May Not Know About
After a natural disaster like Hurricane Sandy, victims are understandably desperate to receive relief funds, but they often don't know the best way to get them. DailyFinance is here to help, with this list of programs designed to help you rebuild after the storm.
Fannie Mae, Freddie Mac Give Relief to Borrowers Hit by Hurricane Sandy
Fannie Mae and Freddie Mac extended their disaster-relief policies to borrowers whose homes were damaged by Hurricane Sandy. The aid applies to property owners living in towns and cities along the eastern United States that have been declared disaster areas by President Obama.
U.S. Sues Bank of America for $1 Billion for Mortgage Fraud
The top federal prosecutor in Manhattan says he's suing Bank of America for $1 billion for mortgage fraud against Fannie Mae and Freddie Mac. U.S. Attorney Preet Bharara says Countrywide had procedures designed to process loans at high speed and generated thousands of fraudulent loans.
Average on 30-year US Mortgage Falls to 3.59%
Average U.S. rates on fixed mortgages fell this week and are just slightly above record lows reached earlier this year. The low rates have contributed to a modest housing recovery.
Treasury Tightens Up Terms of Fannie and Freddie Bailout Deal
The government is changing the terms of its bailout agreement with Fannie Mae and Freddie Mac in a way that will shrink the holdings of the two mortgage giants more quickly and will require payment to the government of all quarterly profits the companies earn.
Fannie Mae Posts $2.2 Billion Net Gain for Second Quarter
Fannie Mae earned $2.2 billion from April through June, its second quarterly gain in net income since it was taken over by the government during the 2008 financial crisis.
Government Bars Fannie-Freddie from Reducing Principal
A federal regulator is standing by its decision to bar Fannie Mae and Freddie Mac from reducing principal for borrowers at risk of foreclosure, resisting pressure from the Obama administration. The Federal Housing Finance Agency announced the decision Tuesday after months of considering the option.
Countrywide Bank Won Influence with Discount Loans to VIPs: Report
The former Countrywide Financial, whose subprime loans helped start the foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of Fannie Mae, according to a House report.
Home Prices Rise in Nearly All Major U.S. Cities
Home prices rose in nearly all major U.S. cities in April, further evidence that the housing market is slowly improving. According to the Standard & Poor's/Case-Shiller home price index, the only top 20 metro area to see prices fall was Detroit.
Fannie Mae Earned a Profit in Q1, Says It Doesn't Need More Aid
Mortgage giant Fannie Mae says it made $2.7 billion in the first quarter, the first time it has had a net income gain since it was taken over by the government during the 2008 financial crisis.
Homes for Rent, $208 a Month: A Plan to Save Fannie Big Money
Fannie Mae and Freddie Mac now own some 200,000 foreclosed-upon homes, and they're spending $500 million a year on upkeep. That's a lot of lawn mowing. If only there were a cheaper way to get it done -- a way that benefited Americans. Here's an idea ...
Occupy Our Homes Targets Banks Over Mortgage Mess
A spin-off group from Occupy Wall Street, called Occupy Our Homes, has formed to reverse and stop foreclosures. Lately, the group has been using creative tactics to raise awareness about the banking practices that led to the housing bubble.
Low Mortgage Rates Spark Refinancing Rush
Mortgage rates have hit an all-time low according to Freddie Mac's Primary Mortgage Market Survey. The drop has done little to help new home sales, but it did cause a surge in refinancings.
Homeowners Move Away From 30-Year Mortgages
With the historically low interest rates, many homeowners with 30-year mortgages have been leaving their loans for younger models. According to a new report from Freddie Mac, more homeowners are refinancing into 15- and 20-year mortgages than ever before.
Fortune 500's Top 10 Losers: Down Billions, but Still Huge
Holding a spot on the Fortune 500 list puts a business in august company, but that isn't always synonymous with being successful. Each year, some companies manage to stay on the list despite experiencing profound problems, and losing billions of dollars for their stakeholders.
One Safe Way to Invest Now in Municipal Bonds
After respected banking analyst Meredith Whitney rattled the municipal bond market with her prediction of hundreds of billions of dollars in muni defaults, small investors dumped the bonds. That dire prediction may yet come true, but there are a few types of munis that still carry virtually no risk.
Foreclosure Mess Settlement Proposal Is No Fix at All
State attorneys general and federal regulators are rushing to settle the robo-signing foreclosure mess created by the banks and get the real estate market back on its feet. But their proposals don't fully address the one of the fundamental problems of the crisis: Who really owns all those homes?
Three Key Rules for Today's Housing Market
Some recent reports on the real estate market show home prices starting to stabilize in many areas. Other data suggests the housing market has further to fall. But whichever direction the numbers are heading, there are few tenets that smart buyers and sellers should always follow.
Fannie and Freddie Narrow Earnings Losses, Request More Aid
Fannie Mae and Freddie Mac both narrowed their losses in the fourth quarter of 2010. But they aren't out of the woods yet: Both of the government-sponsored home-mortgage buyers have requested higher amounts of new federal aid than they did in the previous quarter.
Another Way Banks Make Everyone Pay: The MERS Mess
Banks created the Mortgage Electronic Registration System to save themselves a boatload in fees by keeping mortgage transfers off the books of local governments. Now, a New York judge says the whole system violates state law, and banks holding MERS mortgages there can't foreclose. Where will this disaster go from here?