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Congress Government Sponsored Enterprise

  • WASHINGTON— Long-term U.S. mortgage rates rose this week for the first time in five weeks. Mortgage buyer Freddie Mac said Thursday the average rate on 30- year fixed-rate home loans increased to 4.03 percent from 3.97 percent last week. The National Association of Realtors said its pending home sales index slipped 0.8 percent to 111.4 in March, from 112.3 in...

  • 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...

  • WASHINGTON— The average U.S. mortgage rate fell below a key threshold of 4 percent this week, its lowest level in five months. Mortgage buyer Freddie Mac said Thursday that the average interest rate on 30- year fixed-rate home loans declined to 3.97 percent this week from 4.08 percent last week. Interest rates on mortgages began to rise after President Donald...

  • NEWARK, Del. _ SLM Corp. on Wednesday reported first-quarter earnings of $94.9 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share. Sallie Mae expects full-year earnings in the range of 70 cents to 72 cents per share.

  • 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...

  • 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...