Should the Government Get Out of the Mortgage Industry?

Mortgages

Should the Government Get Out of the Mortgage Industry?

Should the Government Get Out of the Mortgage Industry?

In recent years, even as the housing market has made significant strides to get out of the doldrums experienced immediately following the bubble burst, there has been significant discussion about scaling back federal involvement with two government-sponsored mortgage-backing enterprises. Now, a new plan for doing so is about to see the light of day. A panel… Read More

Unraveling the Freddie-Fannie Tangle

Mortgages

Unraveling the Freddie-Fannie Tangle

Unraveling the Freddie-Fannie Tangle

In the aftermath of the financial crisis, American taxpayers poured $187.5 billion into two huge but poorly understood companies: Freddie Mac and Fannie Mae…

Fannie, Freddie Halt Foreclosures for the Holidays

Mortgages

Fannie, Freddie Halt Foreclosures for the Holidays

Fannie, Freddie Halt Foreclosures for the Holidays

The holiday season is stressful enough for millions of consumers across the country who are struggling with their finances, so two of the nation’s government-sponsored mortgage backers have made the decision not to take any negative actions that might dampen their moods further. Both Fannie Mae and Freddie Mac will forgo evictions of consumers who have… Read More

Hurricane Sandy: Freddie Mac Extending Mortgage Relief to Victims

Mortgages

Hurricane Sandy: Freddie Mac Extending Mortgage Relief to Victims

Hurricane Sandy: Freddie Mac Extending Mortgage Relief to Victims

Hurricane Sandy rocked much of the east coast but disproportionately affected the states of New York, New Jersey and Connecticut. Now, homeowners in the path of the storm who have mortgages backed by one of the nation’s government-sponsored giants may be able to find some relief. Freddie Mac is now alerting mortgage servicers across the… Read More

Fixed-Rate Mortgages Hit Record-Low 3.4%

Mortgages

Fixed-Rate Mortgages Hit Record-Low 3.4%

Fixed-Rate Mortgages Hit Record-Low 3.4%

Freddie Mac announced Thursday morning that 30-year fixed-rate mortgages hit a new record low of 3.4 percent this week, dropping from last week’s record-tying low of 3.49 percent. That wasn’t the only mortgage product to hit a new low, however. Every other mortgage product surveyed by Freddie Mac dropped to a new low this week… Read More

New Rules Determine Who Takes Control of Home Defaults

Mortgages

New Rules Determine Who Takes Control of Home Defaults

New Rules Determine Who Takes Control of Home Defaults

In the past, a major problem in the mortgage market was that when consumers defaulted on their home loans backed by the two large government-sponsored enterprises, it wasn’t always clear who controlled that loan. Now, the government is trying to clarify the situation. The Federal Housing Finance Agency, which oversees the mortgage-backing giants Fannie Mae… Read More

Government to Bargain House Hunters: Go Away.

Mortgages

Government to Bargain House Hunters: Go Away.

Government to Bargain House Hunters: Go Away.

The government is getting lots of offers lately for its huge stockpile of foreclosed homes. But most of those would-be buyers are asking for deep discounts, offering just 40 to 60 percent of the list price for many homes. The government’s response? Call us back when you’re serious. “We are not considering any such significant… Read More

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Mortgages

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Bills to end federal control in Fannie Mae and Freddie Mac in both the U.S. Senate and House of Representatives, pushed by Republican lawmakers, have faced such wholesale opposition from those in both parties that neither are expected to pass, according to a report from the San Antonio Express-News. Much of the resistance has come… Read More

Federal Agencies Push for More Mortgage Modifications

Mortgages

Federal Agencies Push for More Mortgage Modifications

Federal Agencies Push for More Mortgage Modifications

Fannie Mae, Freddie Mac and the federal regulators that control them recently released new guidelines for the nation’s 14 largest home loan issuers, which were designed to encourage lenders to grant more home loan modifications, according to a report from the Wall Street Journal. In particular, the rules would require that lenders approach troubled borrowers… Read More

Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

Mortgages

Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

American taxpayers already have spent more than $160 million to defend lawsuits against Fannie Mae and Freddie Mac, the two federally-owned mortgage giants. More than $24 million of that money went to defend Fannie’s top three former executives, who caused many of the lawsuits by “deliberately and systematically” lying about the company’s earnings to boost… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay connected to our experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.