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Tag Archives: fannie mae

Obama pitches mortgage overhaul as housing rallies

PHOENIX — Buoyed by an improving housing market, President Barack Obama on Tuesday proposed a broad overhaul of the nation’s mortgage finance system, including winding down government-backed Fannie Mae and Freddie Mac. He declared that taxpayers should never again be ...

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Obama picks restructuring expert to take over IRS

WASHINGTON — President Barack Obama has chosen a retired corporate and government official with experience managing numerous organizations in crisis to take over an Internal Revenue Service under fire for targeting political groups. Obama said his nominee for commissioner of ...

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U.S. rate on 30-year mortgage slips to 3.40 percent

WASHINGTON — The average U.S. rate on the 30-year mortgage fell closer this week to its historic low and the 15-year rate marked a record low. Low rates are increasing the affordability of buying homes and refinancing. Mortgage buyer Freddie ...

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Fannie’s record profit a symbol of housing rebound

Home prices are up. Foreclosures are down. Construction is up. And now comes the latest sign of the U.S. home market’s revival: Fannie Mae, the mortgage giant that nearly collapsed five years ago, has earned its biggest yearly profit ever. ...

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Freddie accuses big banks of rigging lending rate

WASHINGTON — Freddie Mac has sued 15 big international banks, including JPMorgan Chase, Bank of America and Citigroup, accusing them of rigging a key interest rate and causing huge losses for the government-controlled mortgage giant. Freddie filed the lawsuit Thursday ...

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