Two Senate Republicans say they want the Treasury Department to explain why it gave a "blank check" to Fannie Mae and Freddie Mac by removing the $400 billion cap on how much money it would give the mortgage giants to keep them from failing.
As the nation's thoughts turned to eggnog and gift-giving on Christmas Eve, the news hit: "Fannie Mae, Freddie Mac executive compensation significantly reduced."
The government's Christmas Eve pledge of unlimited financial aid to mortgage giants Fannie Mae and Freddie Mac is aimed at making sure the housing market doesn't take another turn for the worse and cause the economic recovery to unravel.
Key events in the government's rescue of Fannie Mae and Freddie Mac:
Now that the nation’s biggest banks have returned the money the government provided to keep them from collapsing, readers are wondering if those banks needed the money in the first place.
The Obama administration says it is removing the $400 billion financial cap it will provide to Fannie Mae and Freddie Mac to keep the mortgage giants from failing.
The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac.
Mortgage finance company Freddie Mac said Monday that one of its directors, Barbara T. Alexander, will not seek re-election when her term expires in March 2010.
Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season.
Mortgage rates rose for the second consecutive week but the number of homeowners who applied for refinancing remained strong.
Freddie Mac on Monday said it will issue a new three-year reference notes security.
Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor, Bean & Whitaker Mortgage Corp.
Mortgage finance company Freddie Mac on Monday put its initial loss estimate related to the bankruptcy of Taylor, Bean & Whitaker Mortgage Corp. at $500 million, and noted the figure could be much higher.
A new federal program to support state and local housing finance agencies is expected to involve more than $29 billion in government support, Fannie Mae and Freddie Mac disclosed Thursday.
Average rates for 30-year fixed mortgages fell this week, matching a record low set last spring and more than a full percentage point below what they were a year ago, Freddie Mac said Wednesday.
Among the earnings stories for Friday, Nov. 6, from AP Financial News:
Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Corporate directors don't like it when shareholders accuse them of being management cronies, but how else can they be seen when they drop the ball on basic responsibilities like leadership development and executive pay?
Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday.
Freddie Mac's new chief financial officer, lured from the banking industry this month, is receiving a pay package worth up to $5.5 million.
Freddie Mac said Tuesday it has named a new chief financial officer, filling a post that has been occupied on an interim basis for a year.
A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government.
Investors are still trading common shares of Fannie Mae, Freddie Mac and American International Group Inc. by the billions, even though analysts say their prices are almost certain to go to zero.
Rates for 30-year home loans edged up this week, but remain close to record lows reached over the spring.
Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future.