May 3rd 2013 11:30AM
By James O'Toole The next head of the Federal Housing Finance Agency will have quite the task waiting. President Obama nominated Mel Watt, a Democratic congressman from North Carolina, this week to be the next head of the FHFA. Should Watt be confirmed by the Senate, he will play a critical role in shaping the future of... Continue Reading »
Dec 21st 2012 10:00AM
By Paul Ausick We have two data points on the U.S. housing market this morning. The National Association of Realtors reports that the seasonally adjusted annual rate of existing home sales in November rose 5.9 percent to 5.04 million from a downwardly revised total of 4.76 million in October. Sales are up 14.5 percent... Continue Reading »
Mar 1st 2012 11:38AM
Fannie Mae waded further into the foreclosure pool on Monday as it released new details on its plan to sell its repossessed homes as rental properties. The pilot program, first announced in August as an effort to clear the mortgage giant's backlog of foreclosures, is launching with an initial offering of 2,490 residential... Continue Reading »
Feb 29th 2012 12:15PM
WASHINGTON -- Mortgage giant Fannie Mae said Wednesday that it lost money in its fourth quarter and is asking the federal government for $4.57 billion in aid to cover its deficit. Washington-based Fannie said it lost $2.41 billion in the October-December quarter, stung by declining home prices. Revenue was $4.53... Continue Reading »
Feb 22nd 2012 10:05AM
WASHINGTON -- The government regulator for Fannie Mae and Freddie Mac has submitted a plan to Congress that would shrink the mortgage giants' roles in the housing market. The Federal Housing Finance Agency's proposal for a leaner Fannie and Freddie was released Tuesday and would mean fewer mortgages are backed by the... Continue Reading »
