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  • WASHINGTON, Aug 19- The regulator for U.S. housing finance giants Fannie Mae and Freddie Mac told the two firms on Wednesday to provide more support to low-income Americans taking out mortgages and refinancing home loans. The rules direct Fannie Mae and Freddie Mac to expand the number of loans they back for low-income families to 24 percent of the their...

  • Freddie Mac to hand $3.9 bln to U.S. Treasury Tuesday, 4 Aug 2015 | 10:12 AM ET

    WASHINGTON, Aug 4- Government-controlled mortgage finance firm Freddie Mac on Tuesday said big gains in its loan guarantee business and its investment portfolio will allow it to cut a check to the U.S. Freddie Mac reported a second-quarter profit of $4.2 billion, sharply up from $524 million in the first quarter. Under the terms of their rescue, Freddie Mac and...

  • LOS ANGELES, July 19- A new study by student lender Sallie Mae found the average amount spent on college education in the United States jumped for the first time in five years, thanks to greater outlays from high-income families and parental readiness to spend more. Families spent an average of $24,164 for the 2014-15 academic year, a 16 percent increase from the...

  • NEW YORK, July 16- The Federal Housing Finance Agency disclosed on Thursday that it paid two law firms over $373 million since 2010 to pursue litigation against several banks over mortgage-backed securities sold to Fannie Mae and Freddie Mac before the financial crisis. Stefanie Johnson, an FHFA spokeswoman, said its hiring of private law firms "has been a...

  • NEW YORK, June 4- Abacus Federal Savings Bank, which caters to the Chinese-American community in New York, New Jersey and Pennsylvania, was found not guilty on Thursday of all charges related to the sale of allegedly fraudulent mortgages to Fannie Mae. A jury in New York state court in Manhattan acquitted the bank of mortgage fraud and falsifying business records...

  • NEW YORK, June 4- Abacus Federal Savings Bank, which caters to the Chinese-American community in New York, New Jersey and Pennsylvania, was found not guilty on Thursday of all charges related to the sale of allegedly fraudulent mortgages to Fannie Mae, prosecutors and defense counsel said. A jury in New York state court in Manhattan acquitted the bank of mortgage...

  • NEW YORK, June 3- Abacus Federal Savings Bank, which caters to the Chinese-American community in New York, New Jersey and Pennsylvania, was found not guilty of grand larceny and conspiracy on Wednesday after a three-month trial for the alleged sale of hundreds of millions of dollars worth of fraudulent mortgages to Fannie Mae, lawyers involved in the case said.

  • NEW YORK, May 29- A federal judge has dismissed a class action lawsuit accusing Ocwen Financial Corp of fraudulently billing hundreds of thousands of homeowners for needless property inspections, saying the case amounts to no more than a breach of contract claim. It accused Ocwen of ignoring Fannie Mae guidelines that call for assessing individual...

  • Non-bank lenders and loan servicers will need to do so as of Dec. 31 to work with Fannie Mae and Freddie Mac, which provide the capital for most new U.S. mortgages. Taxpayers bailed out Fannie Mae and Freddie Mac in 2008 during a severe recession and housing market implosion, and the new rules aim to limit the companies' exposure to under-capitalized counterparties.

  • NEW YORK, May 15- A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac. Under the order, Fannie Mae will receive $26.6 million while Freddie Mac will be paid $779.4 million by the two firms.

  • NEW YORK, May 15- A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac.

  • NEW YORK, May 12- A U.S. judge's ruling that Nomura Holdings Inc and Royal Bank of Scotland Group Plc made false statements selling mortgage-backed securities to Fannie Mae and Freddie Mac could result in a judgment exceeding $805 million, a U.S. regulator's lawyer said on Tuesday. Philippe Selendy, a lawyer for the Federal Housing Finance Agency, gave his...

  • NEW YORK, May 11- A U.S. judge on Monday ruled that Nomura Holdings Inc made false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. District Judge Denise Cote in Manhattan ruled for the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, in a ruling that could allow the...

  • NEW YORK, May 11- A federal judge on Monday ruled that Nomura Holdings Inc misled Fannie Mae and Freddie Mac by making false statements about the quality of mortgages that backed securities it sold. District Judge Denise Cote in Manhattan ruled in favor of the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, following a non-jury...

  • WASHINGTON, May 8- Fannie Mae and Freddie Mac's regulator on Friday extended for another year the mortgage finance firms' participation in the U.S. government's main foreclosure prevention programs. The decision, announced by Federal Housing Finance Agency Director Mel Watt, extends the Home Affordable Mortgage Program and the Home Affordable Refinance...

  • May 7- Government-controlled mortgage financier Fannie Mae said on Thursday it will pay a dividend of $1.8 billion to the U.S. While the payment will push taxpayers further into the black on their bailout of the firm, it will be Fannie Mae's smallest dividend payment since the first quarter of 2010, when it was required to cut a check even as it was drawing bailout...

  • May 5- Government-controlled mortgage financier Freddie Mac said on Tuesday it would pay a dividend of $746 million to the U.S. After the payment, Freddie Mac will have returned $92.6 billion in dividends to the Treasury in return for the $71.3 billion in bailout funds it drew. Freddie Mac and its sister company Fannie Mae, which has yet to report first quarter...

  • WASHINGTON, May 5- Government-controlled mortgage finance firm Freddie Mac on Tuesday said it will cut a check to the U.S. Freddie Mac reported a first quarter profit of $524 million, up from $227 million in the fourth quarter. In the meantime, executives at Freddie Mac are testing funding mechanisms that could inform the debate on how to reduce the role of the...

  • WASHINGTON, May 5- Government-controlled mortgage finance firm Freddie Mac on Tuesday said it will cut a check to the U.S. Freddie Mac said its first quarter net income was $524 million, up from $227 million in the fourth quarter. Freddie Mac said the check it will send to the federal government by June will bring cumulative dividend payments to $92.6 billion, well...

  • Freddie Mac to hand $746 million to U.S. Treasury Tuesday, 5 May 2015 | 8:30 AM ET

    WASHINGTON, May 5- Government-controlled mortgage finance firm Freddie Mac said on Tuesday it will give the U.S. Treasury just $746 million in the current quarter, its smallest dividend to taxpayers since 2009.. Freddie Mac said its first quarter net income was $524 million, up from $227 million in the fourth quarter.