Apr 2nd 2013 11:00AM
By Marcy Gordon WASHINGTON -- Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter. The 2012 gain was driven by the housing recovery, which has reduced delinquencies and lifted home prices six years after the bubble burst. The... Continue Reading »
Mar 20th 2013 11:00AM
Getty ImagesWASHINGTON - Revamped terms of Fannie Mae and Freddie Mac's taxpayer-funded bailout that went into effect this year will allow the mortgage finance firms to repay the U.S. Treasury sooner than would have otherwise been the case, a federal watchdog said on Wednesday. Fannie Mae and Freddie Mac were seized by... Continue Reading »
Jan 7th 2013 10:00AM
Bank of America says it will spend more than $10 billion to settle mortgage claims resulting from the housing meltdown. Under the deal announced Monday, the bank will pay $3.6 billion to Fannie Mae and buy back $6.75 billion in loans that the North Carolina-based bank and its Countrywide banking unit sold to the... Continue Reading »
Dec 4th 2012 2:20PM
By Les Christie Homeowners facing foreclosure just received an early Christmas present: They won't be evicted from their homes over the holidays. Mortgage giants Fannie Mae and Freddie Mac announced Monday that they will suspend all bank repossessions beginning Dec. 17 and Dec. 19, respectively, and will not resume the... Continue Reading »
Government-sponsored mortgage backers Freddie Mac, Fannie Mae and the Federal Housing Administration are offering mortgage relief to some borrowers whose homes were damaged by Hurricane Sandy, the superstorm that has crippled communities across the Northeast. The relief is available to borrowers whose homes were damaged... Continue Reading »
