Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
Wednesday, March 16th, 2011The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
Freddie Mac reports loss, seeks another $1.8 billion in taxpayer bailout
Monday, March 14th, 2011Mortgage giants Freddie Mac and Fannie Mae, between them, have needed $148.2 billion in bailout money since late 2008 to stay afloat. The aim is to ensure that mortgage credit remains available.
Marin Borrowers Unite Against Mortgage Firms
Sunday, March 13th, 2011A small nonprofit last year formed an unusual support group for troubled Marin County homeowners. The group has helped members file dozens of lawsuits against mortgage companies, in a sometimes-controversial tactic aimed at staving off foreclosures. The group’s members say they have had some success in buying time or bringing the companies to the negotiating [...]
Low Mortgage Rates Force Foreclosure Acts
Sunday, March 13th, 2011Freddie Mac and Fannie Mae, the two largest mortgage companies in the US, have said that the low mortgage rates in the US right now are forcing their hands when it comes to foreclosing on homes that have fallen into default. Mortgage rates are currently at their lowest for decades and the companies are citing [...]