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Congress Government Sponsored Enterprise

  • Feb 24- Fannie Mae said on Friday it secured commitments for a second transaction under which the U.S. mortgage finance agency will transfer some credit risk to reinsurers on $15 billion worth of single-family home loans it plans to buy from lenders. The Washington- based company said it will retain risk for the first 50 basis points of loss on the pool of loans...

  • WASHINGTON— Long-term U.S. mortgage rates rose slightly this week, continuing a holding pattern that has prevailed this month. Mortgage buyer Freddie Mac said Thursday that the rate on 30- year, fixed-rate loans edged up to 4.16 percent from 4.15 percent last week. Mortgage rates surged in the weeks following President Donald Trump's election in November.

  • In early afternoon trading, Fannie Mae shares were down 26 percent at $3.06, while Freddie Mac fell 29 percent to $2.84. By a 2-1 vote, the U.S. Circuit Court of Appeals for the District of Columbia said a lower court had correctly barred claims that the government overstepped its authority in 2012 by eliminating dividend payouts to various shareholders and...

  • Feb 17- U.S. mortgage finance provider Fannie Mae said on Friday it will pay the Treasury $5.5 billion in dividends in March, but warned that it would face losses and again require taxpayer support if President Donald Trump's pledge to slash corporate taxes comes to fruition. If the write-down were greater than its capital, Fannie said, it would have to draw on its...

  • Treasury $5.5 billion in dividends in March, bringing its total payments to the federal government to $159.9 billion. Fannie and Freddie, which guarantee home loans and issue mortgage-backed securities, drew $116.1 billion and $71.3 billion in funds, respectively, from the Treasury to cover its losses. On Thursday, Freddie said it will pay $4.5 billion in...

  • NEW YORK— Fannie Mae said Friday that it will pay the U.S. The government-controlled mortgage company has already paid the Treasury $154.4 billion in dividends since receiving $116.1 billion in government bailouts between 2008 and 2011. Fannie Mae's sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it...

  • NEW YORK— Freddie Mac said Thursday that it will pay the U.S. Freddie Mac buys mortgages from lenders, packages them into bonds, guarantees them against default and sells them to investors. The McLean, Virginia, company reported net income of $4.85 billion in its fourth quarter, compared with $2.16 billion in the same period a year before.

  • WASHINGTON— Long-term mortgage rates slipped again this week. Mortgage buyer Freddie Mac says the rate on 30- year, fixed-rate loans eased to 4.15 percent from 4.17 percent last week. But rates have soared since President Donald Trump was elected Nov. 8.

  • The Federal Circuit Court of Appeals on Monday said a lower court judge mostly acted within her discretion in ordering the disclosure to Fairholme Funds and other investors of 56 documents, which had been sampled from roughly 12,000 that the government withheld on privilege grounds. The government seized Fannie Mae and Freddie Mac in September 2008 as...

  • Jan 30- Citigroup Inc said on Monday it would speed up the transformation of its U.S. mortgage business by exiting servicing operations by the end of 2018.. Citi said it would sell its mortgage servicing rights on about 780,000 Fannie Mae and Freddie Mac loans of non-Citibank retail customers to New Residential Mortgage LLC. The lender said it expected these...

  • Jan 30- Citigroup Inc said on Monday that it would speed up the transformation of its U.S. mortgage business by effectively exiting servicing operations by the end of 2018.. Citi will be selling its mortgage servicing rights on about 780,000 Fannie Mae and Freddie Mac loans of non-Citibank retail customers to New Residential Mortgage LLC.

  • WASHINGTON, Jan 19- President-elect Donald Trump's pick for U.S. Treasury Secretary, Steve Mnuchin, on Thursday told a Senate panel he does not believe in severing federal ties with and privatizing mortgage giants Fannie Mae and Freddie Mac. Mnuchin, a Wall Street veteran, said at his confirmation hearing before the Senate Finance Committee that he does not...

  • NEW YORK, Jan 19- Interest rates on U.S. 30- year fixed-rate mortgages declined for the third straight week to their lowest since early December, mortgage finance agency Freddie Mac said on Thursday. The borrowing cost on 30- year mortgages, the most widely held type of U.S. home loan, averaged 4.09 percent in the week ended on Jan. 19, down from 4.12 percent in the...

  • NEW YORK, Jan 19- Interest rates on U.S. 30- year fixed-rate mortgages declined for a third straight week to their lowest levels since early December, mortgage finance agency Freddie Mac said on Thursday. The borrowing cost on 30- year mortgages, the most widely held type of U.S. home loan, averaged 4.09 percent in the week ended Jan. 19, down from 4.12 percent last week,...

  • NEW YORK, Dec 15- The U.S. mortgage industry will face a rough 2017 if home borrowing costs stay on their upward trajectory, chief economist Sean Becketti at mortgage finance agency Freddie Mac said on Thursday. The borrowing cost on 30- year fixed-rate mortgages, the most widely held type of U.S. home loan, averaged 4.16 percent in the week ended Dec. 15, the highest...

  • Privatize Fannie & Freddie?

    Discussing possible implications of privatizing government-sponsored enterprises like Fannie Mae and Freddie Mac, with Karen Petrou, Federal Financial Analytics, and Mark Hanson, M. Hanson Advisors.

  • NEW YORK/ WASHINGTON, Nov 30- U.S. President-elect Trump's nominee for Treasury Secretary, Steven Mnuchin, on Wednesday waded into the long-running battle over the future control of Fannie Mae and Freddie Mac, the largest players in the U.S. home mortgage market, saying that the lenders should be returned to private control. The Obama administration has argued...

  • Nov 30- U.S. mortgage finance companies Fannie Mae and Freddie Mac ought to be privatized as soon as possible but in a fashion that ensures they do not again threaten the financial system, President-elect Donald Trump's nominee to run the Treasury Department said on Wednesday. Steven Mnuchin, in an interview on Fox Business Network, said restructuring Fannie...

  • Nov 30- Mortgage finance companies Fannie Mae and Freddie Mac should no longer be owned by the U.S. government, Treasury Secretary nominee Steven Mnuchin said on Wednesday. Mnuchin delivered the remarks in an interview on Fox Business Network, and Bloomberg reported them. Fannie shares were last up 6 percent at $3.90, while Freddie rose 3 percent at $3.71.

  • Nov 23- The U.S. Federal Housing Finance Agency said on Wednesday it raised the maximum limit on mortgages Fannie Mae and Freddie Mac can acquire in 2017, the first increase since 2006, as home prices have risen above their third-quarter 2007 levels. In most U.S. areas, the 2017 maximum "conforming" loan limit for one-unit properties will increase to $424,100 from...