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The Congressional Budget Office lowered its projection for the 2013 US deficit amid higher taxes and better-than-expected bailout repayments.
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US stocks closed sharply lower Friday on an incessant stream of bad news in financials and technology that bled over into the rest of the market.
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Fannie Mae posted a third-quarter net loss that was double its loss from a year earlier because of slumping home prices and the squeeze in credit markets that drove values of mortgage securities lower.
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I didn't see the testimony of Ben Bernanke on Capitol Hill because I was on an airplane coming back from Chicago. It's probably a good thing, because I wouldn't have believed what I heard. Only now that I see it in print, in an email from the office, can I read it over and over again and force myself to accept its veracity.
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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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Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.
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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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New York's expanding probe of the home mortgage industry hammered the stocks of Fannie Mae and Freddie Mac.
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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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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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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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The Securities and Exchange Commission said Friday it is sending checks totaling more than $356 million to Fannie Mae investors from money the company paid to settle financial fraud charges.
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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.
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Freddie Mac, the No. 2 U.S. mortgage financing company, does not expect the economy to fall into recession from the housing market downturn and even sees opportunities in the shake-up, its treasurer said on Wednesday.
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I was waiting to see who did it first. I figured it was between California and Florida, and I was right. California wins. Last Thursday, Gov. Arnold Schwarzenegger wrote a letter to Congressional leaders asking for a state exception to the GSE conforming loan limit ($417,000).
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Countrywide Chief Executive Angelo Mozilo said Tuesday the largest U.S. mortgage lender is "out" of the subprime business, apart from offering home loans eligible for purchase by government-sponsored enterprises.
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Freddie Mac’s CEO, Richard Syron, told CNBC that the home-loan provider needs to be able to invest in jumbo loans for about two years in order to help remedy the subprime crisis.