fannie mae

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.

Bank of America Earnings Shrink Due to Mortgage Settlements

Bank of America says its fourth-quarter earnings shrank as it cleaned up old problems from its mortgage unit, settling one case with Fannie Mae and another with the government. But the modestly positive results still beat the expectations of analysts.

B of A Reaches Settlement with Fannie Mae on Risky Mortgages

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. The settlement includes a $3.6 billion payment to Fannie Mae.

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.

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.

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.

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.

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.

Young Real Estate Investor Seeks Best Use for Cash

Andy Buman has been financially responsible, and invested wisely in two rental properties and a home of his own in the Omaha, Neb., area. His small real estate empire is doing well, and he has saved an extra $20,000. His question for DailyFinance's Laura Rowley: Which loan should he apply it to for the best return?

Reverse Mortgage: Is It a Good Bet for You?

The reverse mortgage was invented to help seniors facing economic hardship access the equity in their homes. But these loan products are complicated, expensive and ripe for abuse, which lead a reader named Fred to ask DailyFinance's Laura Rowley for some advice. Here's what she told him:

Before Market Slide, Americans Were Losing Confidence

Even before the latest stock-market plunge, U.S. consumer confidence was already sliding downward, according to a Fannie Mae survey released Monday. Some 70% of respondents say the economy is heading in the wrong direction.

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 national numbers are heading, there are few tenets that smart buyers and sellers should always follow.

Investor Lawsuits Are Raising the Heat on Bank of America for 'Putbacks'

When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn't just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide's buyer, Bank of America, to force it to repurchase those bad mortgages. That's their right, but there's nothing simple about this case, or its ramifications.

Another Way Banks Make Everyone Pay: The MERS Mess

The Mortgage Electronic Registration System was created by banks 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. So where will this chaotic mess go from here?

Obama's Mortgage Reforms: Higher Standards -- and Costs

The administration's proposed revamp of Fannie Mae and Freddie Mac is actually an offering of multiple policy options, essentially passing the political hot potato to the Republicans. Problem is, any fix is sure to make mortgages costlier, with potential harm to the housing market.

Offering Options -- Not Answers -- for Fannie and Freddie

What to do with struggling mortgage lenders Fannie Mae and Freddie Mac? Rather than propose a single answer, the Obama administration is offering Congress three options: End the government's role in guaranteeing most mortgages; support the mortgage market only in times of stress; or provide a government guarantee.

Why Rising Interest Rates Won't Break the Bull's Run

The yield on the 10-year Treasury note closed at a nine-month high Wednesday, and rising interest rates usually mean bad things for economic growth and stock prices. But until the benchmark hits 5%, explains market guru Jeffrey Kleintop, rising rates mean the good times for stock will continue.