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Fannie Mae And Freddie Mac

The Takeaway

Plans to Reform Fannie Mae and Freddie Mac on the Horizon

Friday, August 09, 2013

Earlier this week President Obama announced his intent to drastically overhaul Fannie Mae and Freddie Mac. Congress is now considering bills that would phase out Fannie and Freddie over the next five years and shrink the government’s role in guaranteeing mortgage securities. Representative Michael Capuano (D-MA), ranking member on the House Financial Services subcommittee on housing and insurance, and Brett Barry, associate broker with HomeSmart in Phoenix, Arizona, explain.

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WNYC News

Sandy Victims Face Relocating, Repairs and Now ... Foreclosure

Thursday, February 28, 2013

While many families whose homes were damaged by Sandy are receiving some mortgage relief from banks, advocates say the measures will only postpone a rash of foreclosures, not prevent them.

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WNYC News

Fannie Mae and Freddie Mac Agree to Speed Up Insurance Money to Sandy Victims

Tuesday, February 26, 2013

Federal mortgage agencies Fannie Mae and Freddie Mac have agreed to help Sandy victims in New York get their insurance money quicker and with fewer headaches, the Cuomo administration announced Tuesday. 

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The Takeaway

How Serious Are the SEC's Charges Against Fannie Mae and Freddie Mac?

Tuesday, December 20, 2011

A series of recent filings from the Securities and Exchange Commission bring new charges against executives at Fannie Mae and Freddie Mac. The SEC claims executives misled investors about Fannie and Freddie's exposure to subprime mortgages in the two years leading up to the housing market collapse. It is unusual to hear a defense of the mortgage giants — conventional wisdom holds that their risky loans were at the heart of the financial crisis from the beginning. But writing in his New York Times op-ed columnJoe Nocera argues that the SEC's latest complaint shows "how desperate the SEC has become to bring a crowd-pleasing case."

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The Brian Lehrer Show

Fannie, Freddie, and Private Equity

Monday, December 19, 2011

New York Times op-ed columnist Joe Nocera discusses news about Fannie Mae and Freddie Mac and explains what private equity firms actually do--all in the context of the GOP race.

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The Brian Lehrer Show

Fannie and Freddie Fixes

Wednesday, September 21, 2011

Professor of real estate and co-director of the Richman Center for Business, Law, and Public Policy at Columbia Business School, Christopher Mayer delves into the new housing numbers and suggests that allowing all homeowners to refinance their mortgages would help the market.

For more information about Professor Mayer's proposal, click here.

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It's A Free Country ®

Fannie and Freddie - Not Their Fault?

Thursday, February 17, 2011

Ultimately, because they were a profit making organization they decided to try to regain market share, drive up profits, drive up compensation. They joined the party late and unfortunately in the late stages of the crisis they bought a significant amount of subprime securities. But even then they peaked, they never bought more than 28 percent of the subprime mortgage backed securities on the market. So they helped inflate the housing boom, they added helium to the balloon, but they were not the primary drivers.

Phil Angelides Financial Crisis Inquiry Commission chairman, on The Brian Lehrer Show.

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WNYC News

Financial 411: Weekly Business Roundup

Friday, February 11, 2011

The New York Stock Exchange could soon be married off to a suitor — from Germany. We'll review that and all the week's business news.

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WNYC News

Financial 411: The Future of Fannie Mae and Freddie Mac

Wednesday, February 09, 2011

The Obama administration is calling for a gradual phase-out of Fannie Mae and Freddie Mac. We'll talk about the future of the two companies that hold about half of all U.S. mortgages.

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The Takeaway

Major Mortgage Shift on the Horizon?

Friday, January 21, 2011

The Obama administration is weighing a decision that could fundamentally change the way Americans buy houses. Wells Fargo, JPMorgan Chase and other large banks are pressing the Treasury Department to allow private companies to bundle individual mortgages into securities, which the government would guarantee. Should this very public role be given to big banks? Should tax-payers be on the hook for guaranteeing mortgages?

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The Takeaway

Bank of America Settles with Freddie and Fannie Over Mortgage Dispute

Tuesday, January 04, 2011

Bank of America announced a $2.8 billion settlement with Freddie Mac and Fannie Mae on Monday. The American-owned firms demanded that Bank of America buy back mortgages whose quality was misrepresented by Countrywide, which is owned by Bank of America. Louise Story, Wall Street and finance reporter for The New York Times analyzes the implications of the settlement.

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It's A Free Country ®

30 Issues in 30 Days: Getting Housing Finance Right

Monday, September 27, 2010

WNYC
"If we decide that the government should remain in housing finance, we are going to run into exactly the same problem, some crisis in the future, because government's involvement creates moral hazard."

-Peter Wallison Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute

on The Brian Lehrer Show">The Brian Lehrer Show

 

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It's A Free Country ®

Did Andrew Cuomo Feed the Subprime Crisis?

Monday, September 27, 2010

WNYC

"This is a pernicious practice. It's being somewhat cleaned up just now, but you are absolutely correct there is no justification for that. I won't speak for his motives, I don't know, but I think someone could be reasonably well suspicious what they were."

-Dean Baker co-director of the Center for Economic and Policy Research discussing Andrew Cuomo's record as Secretary of Housing and Urban Development The Brian Lehrer Show

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The Takeaway

Listeners Respond: Home Ownership

Wednesday, August 18, 2010

Yesterday we discussed home ownership in America. In the past, owning your own property was a major component of the American dream. However, these days there are a lot of reasons to avoid buying a house. We heard from many listeners on this topic.

Steve from Atlanta called in to say:

"It's interesting that this is the first time in a long time that I've actually heard adults say, 'I will never buy a home again.'

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The Takeaway

Government's Role in Country's Ever-Collapsing Housing Market

Tuesday, July 20, 2010

The number of foreclosures on houses in the United States is growing at a rapid rate. The signs of a broken housing market have permeated nearly the entire country. With the federal government now in control of mortgage finance giants Fannie Mae and Freddie Mac, is it fair to blame the feds for the crisis?

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The Takeaway

Seeing the Signs of a Wrecked Housing Market

Friday, July 16, 2010

The statistics are staggering. Nearly 528,000 homes were taken over by lenders in the first half of this year and the country is on track to see the repossession of one million homes by the end of 2010. By comparison, in years past, lenders have historically taken over approximately 100,000 homes every year.  

Grosse Pointe, Michigan resident, David Fleig sees signs of the damaged housing market everyday in his neighborhood. Fleig says, "The 'For Sale' signs are like weeds." He and his neighbors joke that all houses are "50 percent off."

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The Takeaway

Fannie Mae Penalizes Homeowners Who Walk Away From Their Mortgage

Friday, June 25, 2010

Mortgage giant Fannie Mae announced plans this week to institute a new rule penalizing homeowners who walk away from their mortgages. If homeowners are able to afford home payments, Fannie Mae says they will pursue them in court and restrict their access to future home loans for seven years. The decision will affect many home-owning Americans since the mortgage market is nearly completely controlled by Fannie Mae, and its sister company Freddie Mac, as well as the Federal Housing Administration.

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The Leonard Lopate Show

Lending a Hand to Fannie Mae and Freddie Mac

Monday, May 17, 2010

Wall Street Journal reporter Nick Timiraos explains what’s happened to the government-sponsored mortgage giants Fannie Mae and Freddie Mac since the fall of 2008, and why they continue to be so troubled.

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