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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.

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.

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.

Countrywide Bank Won Influence with Discount Loans to VIPs: Report

The former Countrywide Financial Corp., 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.

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