Federal Home Loan Mortgage Corp
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Mark Zandi, a well-known economist, is a front-runner to lead the U.S. housing regulator and oust Edward DeMarco, who critics say hasn't done enough to aid homeowners, the Wall Street Journal reported.
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A shareholder sued Freddie Mac, its chief executive and others on Wednesday, alleging the No. 2 U.S. home funding company did not take adequate steps to protect itself from problems in the mortgage industry.
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Since I'm starting my holiday early today (I'll be back on Monday), I thought I'd provide you with an interesting take on all the Fannie and Freddie news from a good source of mine, mortgage consultant and former HUD official, Howard Glaser. What follows are this thoughts:
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A rocking and rolling stock market, the U.S. dollar at record lows, and oil at record highs is setting the stage for an unusually, volatile Thanksgiving Eve in the markets.
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The shrinking dollar skidded to a new low against the euro overnight though its off its lows as markets await the release of Fed minutes and its forecast later today. In the stock market, a spirited rally started to run out of steam by midday.
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Freddie Mac, the No. 2 U.S. mortgage finance company, stunned Wall Street with a unexpectedly wide loss and plans to slash its dividend or use other means to raise capital to withstand a continuing downturn in the housing market.
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Stocks closed higher after another volatile session, helped by a rally among energy shares as oil soared to a record high close of $98 a barrel.
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I guess it shouldn’t be surprising, but the numbers for Freddie Mac's third quarter losses are really phenomenal. One analyst we called this morning said, “Freddie is a disaster,” and he said we could quote him on that. I won’t, but here’s what’s so striking to me.
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Stocks closed sharply lower after a brokerage downgrade of Citigroup sparked concerns that there may be more mortgage losses to come, raising doubts about the outlook for the economy.
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Freddie Mac may report a loss of between $1 billion to $5 billion on its subprime AAA portfolio, Credit Suisse said on Monday, sending shares in the second-largest U.S. mortgage finance company sharply lower.
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Stocks closed sharply lower as investors remained skittish about the housing slump's toll on the economy and potential credit losses at big financial services companies.
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The Democratic presidential hopeful shared his energy plan and his thoughts on the financial markets with Cramer. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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New York Attorney General Andrew Cuomo was wrong to file subpoenas against Fannie Mae and Freddie Mac without consulting their federal regulator and may have overreached his authority, the regulator wrote in a letter Thursday.
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There's no way to know what's really on the insurer's books, Cramer said. Also, a plea to NY Attorney General Andrew Cuomo to stop his probes before he shuts down the mortgage market.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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On a big down day, it helps to know what - and who - is responsible.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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Stocks closed sharply lower as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual warned the housing downturn would extend well into next year.
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IndyMac Bancorp, one of the largest independent U.S. mortgage lenders, on Tuesday posted a quarterly loss more than five times larger than it had projected, hurt by mounting delinquencies and a collapse in investor demand to buy its home loans.
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Countrywide Financial Chief Executive Angelo Mozilo on Friday said the U.S. Securities and Exchange Commission has opened an informal inquiry into his stock sales, confirming previous reports, and that he and the company are cooperating.
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U.S. housing prices will continue to decline at least through the end of next year and may not begin creeping upward again until 2010, executives from the biggest mortgage financiers said Monday.
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The U.S. Treasury Department wants to expand its power to regulate how Fannie Mae and Freddie Mac access the debt markets in a reform that could stifle growth of the mortgage finance companies' investments, according to a document obtained by Reuters.
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The chief executive of Freddie Mac warned that the U.S. economy faces a 40% to 45% risk of recession induced by the housing market downturn, the Financial Times reported on its Web site.