Federal National Mortgage Association
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Famous consumer advocate Ralph Nader has renewed his efforts on behalf of common shareholders of bailed-out Fannie Mae and Freddie Mac, reports TheStreet.com.
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It’s the last day of 2007, which means everyone and their broker are busy with predictions for 2008, but I’d caution you in using today’s numbers from the National Association of Realtors as any basis for prediction.
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I've never claimed to be an economist (just play one on TV), but I have held a few yard sales in my time, so this I know: If something isn't selling, lower the price. So how can new home sales be reportedly dropping 9 percent while the price of a new home rose month-to-month from $229,500 to $239,100?!
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I'm out of the office today, but I'll be back -- and blogging -- on Wednesday. Happy Holidays!
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The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
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Jon Najarian, co-founder of Optionmonster.com, Bill Nichols, senior managing director at Bear Stearns, and Steve Grasso, broker at Stuart Financial, named the stocks that confident investors should buy.
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The chief executive of Fannie Mae told shareholders that he does not expect a recovery for the ailing U.S. housing market until 2009, but that the mortgage-finance company is strong enough to ride out the storm.
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Bernanke should leave the ivory tower and get on a trading desk. 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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The housing market isn't likely to recover fully for at least two years, while the mortgage industry faces continued massive losses, the CEOs of Fannie Mae and Freddie Mac said.
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Getting a mortgage is getting more expensive, even for borrowers with good credit, thanks to the subprime crisis.
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Stocks closed sharply higher on hopes that a government plan to stem home foreclosures would help ease the housing slump's drag on the economy and underpin profit growth.
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If the Fed cuts rates, this mortgage lender goes much, much higher.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 posted their biggest gains in a week even though a series of strong economic reports cast doubts about whether the Federal Reserve will cut interest rates next week.
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Futures up a bit on the strong ADP report. This is a clear sign that the market wants a decent jobs report, even if it might slightly reduce the chance of an aggressive Fed rate cut. As noted yesterday, financials analysts are now cutting 2008 estimates.
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Selling in the financial sector bit into Tuesday's stock market performance and could do the same Wednesday. After the bell Tuesday, Fannie Mae announced that it was issuing $7 billion in preferred stock and chopping its dividend by 30 percent.
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Cramer makes the call on viewers' favorite stocks.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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Fannie Mae said after markets closed Tuesday that it will sell $7 billion of preferred stock and cut its dividend 30 percent to shore up its capital position through 2008.
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I want to thank President Bush for clearing up a few things this morning at his news conference: 1) that the mortgage industry is, “a more complex industry than we’ve had in the past” and 2) that “we shouldn’t bail out lenders, and so, in other words, that we shouldn’t be using taxpayers’ money…”
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Dow up 40 points, S&P up 4 points since Treasury Secretary Paulson has been on talking about efforts to help homeowners who are facing mortgage resets. Nothing new here; but the image of Paulson talking about problems are helping the markets.
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Mortgage industry executives worked Saturday to hammer out details of a homeowner rescue plan that would freeze interest rates on some U.S. subprime mortgages for up to seven years, but questions remained over how to avoid investor lawsuits and other legal challenges.
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If lenders temporarily freeze low introductory interest rates on home loans made to risky borrowers before they soar, it would be a modest fix for the country's fractured housing market.