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  • CINCINNATI— The federal appeals court in Cincinnati has reinstated Ohio's lawsuit accusing Freddie Mac of defrauding the state's mammoth pension fund by systematically investing in sub-prime home loans. The Ohio Public Employees Retirement System had invested in Freddie Mac and sued in 2008, alleging that misconduct by the lending giant caused...

  • SEATTLE— Laura Jordan came home from work one day to find herself locked out. "This is criminal trespass and theft, and it should be treated as such," said Sheila O'Sullivan, executive director of the Northwest Consumer Law Center. In a friend-of-the-court-brief, the Federal Home Loan Mortgage Corporation— better known as Freddie Mac— highlighted the importance of...

  • NEW YORK, June 28- There is some good news for American parents terrified about the rising costs of college outstripping inflation and their investments: the average amount families spent on college actually went down last year. In the "How America Pays for College 2016," a report from student lender Sallie Mae released on Tuesday, the average American family...

  • WASHINGTON, June 16- U.S. taxpayers may be paying too much for construction of the new headquarters of Fannie Mae, the housing finance company now in government hands, an independent government watchdog warned on Thursday. The new Fannie Mae building in downtown Washington has seen its per-square-foot costs increase by more than 50 percent in about eighteen...

  • According to the SEC, the executives said loans in good standing were delinquent and pulled them from residential mortgage-backed securities guaranteed by the government corporation Ginnie Mae. That caused Ginnie Mae, which stands for the Government National Mortgage Association, to publish false and misleading prospectuses, the SEC said.

  • May 2- Bank of America Corp reached a $190 million settlement with a federal home loan bank over four mortgage-related complaints, according to a securities filing on Monday. The bank had accrued "substantially all" of the settlement amount previously, Bank of America said in a filing with the U.S. Securities and Exchange Commission. The litigation was started by...

  • May 2- Bank of America settled four mortgage-related complaints brought against it by the Federal Home Loan Bank of Seattle, Bank of America disclosed in its quarterly earnings filing on Monday with the Securities and Exchange Commission. "Substantially all" of the $190 million settlement was previously accrued, the bank stated in its filing.

  • WASHINGTON, April 14- The regulator of Fannie Mae and Freddie Mac said on Thursday it would allow the government-controlled mortgage finance companies to cut loan balances for thousands of U.S. borrowers who owe more than their homes are worth. The Federal Housing Finance Agency said the principal reduction program would be a one-time offering for seriously...

  • WASHINGTON, April 14- The regulator of government-controlled mortgage finance companies Fannie Mae and Freddie Mac said on Thursday it would allow the two to cut loans balances for thousands of U.S. borrowers who owe more than their home is worth. The Federal Housing Finance Agency said the principal reduction program would be a one-time offering for...

  • WASHINGTON, April 14- The regulator of government-controlled mortgage finance firms Fannie Mae and Freddie Mac said on Thursday it would allow the two firms to cut loans balances for some U.S. borrowers who owe more than their home is worth. The Federal Housing Finance Agency said the principal reduction program would be a one-time offering for seriously...

  • WASHINGTON, April 8- New York's attorney general urged the Federal Housing Finance Agency on Friday to quickly adopt a plan to reduce principal mortgages for U.S. homeowners at risk of foreclosure. In a letter sent to FHFA Director Mel Watt, New York Attorney General Eric Schneiderman said nearly 60,000 homeowners in New York were delinquent on mortgages...

  • NEW YORK, April 7- Until last week, high school senior Alex Gomez was missing a key piece in his puzzle-like plan to pay college tuition next year to the University of Colorado. The 18- year-old from Ruidoso, New Mexico had already lined up family savings, financial aid, work study and loans, and then won a $7,500 scholarship from student-loan lender Sallie Mae for...

  • NEW YORK, March 10- While millennials have a lot to learn about managing money, a new survey shows a rosy picture of college students who are working, paying their bills on time without their parents' help, avoiding debt and hungry for more knowledge. The survey released on Thursday by Sallie Mae on how U.S. college students manage their finances found that 77 percent...

  • Crotty said the SEC had also put forward evidence from which a jury could conclude Mudd knew or should have known that public statements he made about Fannie Mae's exposure to risky loans, as well as the company's disclosures, were false or misleading. An SEC spokeswoman declined to comment on Tuesday. The SEC sued Mudd, who ran Fannie Mae from 2005 until the...

  • U.S. Chief Technology Officer (CTO) Megan Smith.

    The United States' chief technology officer, Megan Smith, took the stage at one of the largest gatherings of women in technology.

  • Best cities for start-ups

    These heartland cities are the best for entrepreneurs.

  • Tanks that hold the water to be filtered through the desalination machines at the Desal Prize test site in Alamogordo, NM.

    Tech competitors have converged on New Mexico to help the developing world——and maybe drought-stricken California.

  • Jack Ma, founder of Alibaba Group Holding Ltd. at the 2014 CGI annual meeting in New York.

    Jack Ma struck a populist tone at the Clinton Global Initiative on Tuesday, saying Alibaba will continue to focus on small and mid-sized partners.

  • Bill Ackman

    In the complaint, Pershing Square alleged that Treasury illegally seized tens of billions of dollars in Fannie and Freddie profits.

  • The FHFA filed 18 lawsuits against Goldman and other banks in 2011 over about $200 billion in mortgage-backed securities that later went sour.