Dec 21st 2011 10:00AM
SAN FRANCISCO -- California's attorney general filed lawsuits against mortgage giants Fannie Mae and Freddie Mac on Tuesday, demanding that the companies that own some 60 percent of the state's mortgages respond to questions in a state investigation. Attorney General Kamala Harris, whose office filed the lawsuits in San... Continue Reading »
Dec 19th 2011 1:10PM
NEW YORK -- The Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac with securities fraud on Friday for misrepresenting their holdings of high-risk mortgage loans. The SEC is targeting three former executives of Freddie Mac, including chief executive officer Daniel Mudd, chief... Continue Reading »
Nov 11th 2011 9:30AM
California expanded its $2 billion program to help homeowners avoid foreclosure to those with second homes as well. The California Housing Finance Agency established the four Keep Your Home programs using money from the Treasury Department's $7.6 billion Hardest Hit Fund. Before, borrowers were restricted from... Continue Reading »
Nov 9th 2011 10:45AM
WASHINGTON -- Mortgage giant Fannie Mae is asking the federal government for $7.8 billion in aid to cover its losses in the July-September quarter. The government-controlled company said Tuesday that it lost $7.6 billion in the third quarter. Low mortgage rates reduced profits and declining home prices caused more... Continue Reading »
Nov 3rd 2011 10:15AM
WASHINGTON -- Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter. Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in... Continue Reading »
