Fannie Mae And Freddie Mac
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.
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.
Tuesday, February 26, 2013
By Daniel P. Tucker : Associate Producer, WNYC News
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.
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 column, Joe Nocera argues that the SEC's latest complaint shows "how desperate the SEC has become to bring a crowd-pleasing case."
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.
Thursday, February 17, 2011
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.
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?
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.
Monday, September 27, 2010
-Peter Wallison Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute
Monday, September 27, 2010
"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."
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.'
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?
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."
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.