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Government Sponsored Enterprise

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  • WASHINGTON, March 5- A U.S. Treasury official on Thursday pushed for a faster reduction in the most illiquid assets held by Fannie Mae and Freddie Mac, and said the only way to fix the government-controlled mortgage finance firms was through legislative reform. "The closer the GSEs can come to transferring the majority of risk to private market participants, the...

  • March 2- Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar...

  • Ocwen said on Monday it expected the transaction to close by mid-2015, subject to approvals by Fannie Mae and the U.S. Federal Housing Finance Agency.

  • Feb 20- Government-controlled mortgage financier Fannie Mae said on Friday it would pay a dividend of $1.9 billion to the U.S. While the payment will push taxpayers further into the black on their bailout of Fannie Mae, it will be their smallest dividend since the second quarter of 2010, a reflection of derivatives-related losses that crimped the company's...

  • WASHINGTON, Feb 20- Fannie Mae will make its smallest payment to taxpayers in more than four years years after large derivatives losses crimped its fourth-quarter profit, the government-controlled mortgage financier said on Friday. Fannie Mae will cut the U.S. This will bring Fannie Mae's total payments to taxpayers to $136.4 billion in exchange for $116.1...

  • WASHINGTON, Feb 19- Freddie Mac saw $3.4 billion in quarterly derivative losses due to declining interest rates, the government-controlled mortgage finance company said on Thursday. Freddie Mac also said it will pay $851 million to the U.S. Freddie Mac Chief Executive Officer Donald Layton said a hefty derivative loss could require the company to draw money...

  • Feb 19- Freddie Mac said on Thursday it would pay a dividend of $851 million to the U.S. After the payment, the company will have sent a cumulative $91.8 billion in dividends to the Treasury in return for the $71.3 billion in taxpayer aid it received after the government seized it at the height of the financial crisis. Freddie Mac's sister firm and fellow government...

  • WASHINGTON, Feb 19- Government-controlled mortgage finance firm Freddie Mac said on Thursday that it will pay $851 million to the U.S. Freddie Mac said fourth quarter net income fell by $1.9 billion to $227 million, driven by derivative losses. Freddie Mac said the single-family serious delinquency rate was 1.88 percent as of the end of December, down from 2.39...

  • Freddie Mac paid $19.6 bln to U.S. Treasury in 2014 Thursday, 19 Feb 2015 | 8:26 AM ET

    WASHINGTON, Nov 6- Government-controlled mortgage finance firm Freddie Mac said on Thursday that it paid $19.6 billion to the U.S. Treasury last year and reported a drop in earnings. Freddie Mac said fourth quarter net income fell to $1.9 billion from the previous quarter, driven by a rise in dividend losses from declining long-term interest rates.

  • WASHINGTON, Feb 4- The top U.S. regulator of Fannie Mae and Freddie Mac on Wednesday played down the likelihood of reducing the loan size of homeowners still under water, saying such a move would also have to be a "win" for taxpayers. Any program to help those whose mortgage loan balance is more than their house is worth would be "substantially narrower" than a lot of...

  • U.S. housing regulator downbeat on principal reductions Wednesday, 4 Feb 2015 | 12:00 PM ET

    WASHINGTON, Feb 4- The top U.S. regulator of Fannie Mae and Freddie Mac on Wednesday played down the likelihood of reducing the size of loans of homeowners still under water, saying such a move would also have to be a win for taxpayers. Federal Housing Finance Agency director Mel Watt, a former 20- year Democratic Congressman who has been at the helm of the agency for...

  • NEW YORK, Feb 3- A federal judge on Tuesday rejected Bank of America Corp's bid to throw out a jury verdict finding it liable for the sale of questionable loans to Fannie Mae and Freddie Mac before the financial crisis, which led to a $1.27 billion civil penalty. He also rejected Bank of America's alternative request for a new trial. The U.S. Department of Justice had...

  • WASHINGTON, Jan 27- The top U.S. housing regulator on Tuesday said his agency would make a decision by the end of this quarter on fees Fannie Mae and Freddie Mac charge lenders for guaranteeing mortgages. The mortgage industry has been awaiting a final decision by Federal Housing Finance Agency Director Mel Watt. Speaking before his former colleagues on the...

  • BOSTON, Jan 16- Eric Mindich's $8.5 billion hedge fund, Eton Park Capital Management, is now ready to pick through the debt of beaten-up energy companies, an area it avoided last year as the price of oil tumbled. Eton Park dropped mortgage companies Fannie Mae and Freddie Mac with a big profit before a U.S. judge threw out a lawsuit filed by shareholders to prevent the...

  • NEW YORK, Jan 15- The Federal Home Loan Bank of San Francisco said on Thursday it reached a settlement worth $459 million with certain banks it sued after buying subprime mortgage-backed securities that soured following the housing bust. The banks sued included JP Morgan Chase, Credit Suisse, Morgan Stanley, Countrywide Securities, UBS Group AG, Deutsche Bank...

  • WASHINGTON, Jan 14- Fannie Mae and Freddie Mac's regulator hinted on Wednesday that credit standards could be eased when it laid out the 2015 goals for U.S. mortgage companies. It also called on Fannie Mae and Freddie Mac to provide clarity on what is expected from mortgage loan servicers and to "enhance eligibility standards." Under Watt's leadership, the FHFA...

  • The part-nationalised bank, which had set aside 1.9 billion pounds to deal with the claims, could be asked by the Federal Housing Finance Agency to pay settlements of more than 5 billion pounds over the sale of about $32 billion of mortgage-backed debt in the United States, the report said. The federal court in Connecticut is handling a second case which...

  • Dec 23- Mortgage insurer Radian Group Inc said it would sell its bond guaranty business to Assured Guaranty Ltd for $810 million to focus on mortgages and real estate and comply with proposed changes to rules governing private mortgage insurers. The U.S. Federal Housing Finance Agency has proposed rules to tighten capital requirements for private insurers...

  • WASHINGTON, Dec 16- America's government-controlled mortgage finance giants, Fannie Mae and Freddie Mac, will likely guarantee a shrinking share of new loans over the next decade, congressional analysts said on Tuesday. During the 2007-09 financial crisis, it was almost impossible for home buyers to get a loan without a government guarantee, and Fannie Mae and...

  • WASHINGTON, Dec 11- Fannie Mae and Freddie Mac's regulator on Thursday directed the two government-controlled mortgage firms to begin setting aside money for an affordable-housing fund established in 2008, saying they were now financially fit enough to do so. The "allocation would not contribute to the financial instability" of the mortgage firms, Federal...