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Congress Government Sponsored Enterprise

  • WASHINGTON— Long-term U.S. mortgage rates fell this week to their lowest levels of the year. Mortgage buyer Freddie Mac said Thursday the average rate on 30- year fixed-rate home loans tumbled to 3.95 percent from 4.02 percent last week. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.

  • Mortgage buyer Freddie Mac said Thursday the average rate on 30- year fixed-rate home loans slipped to 4.02 percent from 4.05 percent last week. Amid growing worries that deepening political turmoil in Washington will hinder President Donald Trump's plans to enact tax cuts and other business-friendly policies, the stock market had its steepest drop since...

  • Melvin Watt, director of the U.S. Federal Housing Finance Agency, told the Senate Banking Committee he could order Fannie and Freddie to retain future profits as a way to shore up their accounts. At that time, the Treasury Department took control of the firms with an injection of taxpayer cash. Watt, who was appointed by former President Barack Obama, said the option...

  • Melvin Watt, director of the U.S. Federal Housing Finance Agency, told the Senate Banking Committee he could order Fannie and Freddie to retain future profits as a way to shore up their accounts. At that time, the Treasury Department took control of the firms with an injection of taxpayer cash. Watt, who was appointed by former President Barack Obama, said the option...

  • Melvin Watt, director of the U.S. Federal Housing Finance Agency, told the Senate Banking Committee he could order Fannie and Freddie to retain future profits as a way to shore up their accounts. At that time, the Treasury Department took control of the firms with an injection of taxpayers' cash. Watt, who was appointed by former President Barack Obama, said the...

  • WASHINGTON, May 10- Fannie Mae and Freddie Mac may have to retain billions of dollars in profits rather than turn them over to the U.S. Having Fannie and Freddie tap taxpayers for more financial support "could stifle liquidity in the mortgage-backed securities market and could increase the cost of mortgage credit for borrowers," Watt said in prepared testimony...

  • U.S. student loans outstanding, which reached a record $1.31 trillion in 2016, have raised concerns about their drag on consumer spending and homeownership, according to analysts. "These new policies provide three flexible payment solutions to future and current homeowners and, in turn, allow lenders to serve more borrowers," Jonathan Lawless, Fannie Mae's...

  • The investors are asking a three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia to reconsider its earlier decision. Fannie Mae preferred gained about 1.6 percent to $6.86 a share while Freddie Mac preferred was up 3.1 percent to $3.17 a share. Instead, the Treasury Department required that the companies pay an amount equal to their...

  • NEW YORK, March 16- U.S. 30- year mortgage rates rose for a second straight week to their highest levels since late December in step with a jump in Treasury yields, according to mortgage finance agency Freddie Mac on Thursday. The borrowing cost on 30- year mortgages, the most widely held type of U.S. home loan, averaged 4.30 percent in the week ended March 16, which was...

  • 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...

  • 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...

  • 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...