Please ensure Javascript is enabled for purposes of website accessibility

Tag Archives: freddie mac

Freddie Mac posts $1.7B loss for Q4

WASHINGTON — Mortgage buyer Freddie Mac has posted a loss of $1.7 billion for the October-December quarter of last year, and a $19.8 billion loss for all of 2010. The government-controlled mortgage buyer is also asking for an additional $500 ...

Read More »

House panel’s bill would end foreclosure program

WASHINGTON — A House committee plans to write legislation next week ending the Obama administration’s flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs. At its meeting next Thursday, the highest-profile target of the ...

Read More »

White House plan lays out strategy for winding down Fannie, Freddie

WASHINGTON — The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision. The Treasury Department says in a report released Friday that the government should withdraw its ...

Read More »

Foreclosure activity up across most US metro areas

The foreclosure crisis is getting worse as high unemployment and lackluster job prospects force homeowners in an increasing number of U.S. metropolitan areas into dire financial straits. In Seattle, Houston and Chicago, cities that were relatively insulated from foreclosures early ...

Read More »

Bank of America to take $2B charge to settle home loan claims

NEW YORK — Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad mortgages. The payment is far lower than analysts expected and removes some uncertainty ...

Read More »

Mortgage rates edge down after 5 weeks of gains

NEW YORK — Rates on fixed mortgages dipped after rising for five weeks in a row. Still, they remain more than a half-point higher than last month and are at the highest level since late spring. Freddie Mac said Thursday ...

Read More »

Treasury Secretary Geithner says bailout will cost less than $25B

WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that the $700 billion financial bailout will end up costing taxpayers less than congressional analysts have estimated. The Congressional Budget Office has estimated that taxpayers will lose $25 billion on the rescue ...

Read More »