Freddie Mac

Government may sue to recover losses from kickbacks

Government may sue to recover losses from kickbacks

The government is considering whether to sue banks and other mortgage servicers to recover its losses from alleged insurance kickbacks that may have cost government-controlled mortgage giants Fannie Mae and Freddie Mac hundreds of millions of dollars, according to an internal report. The Federal Housing Finance Agency, which is responsible for guarding Fannie and Freddie’s […]

Fannie, Freddie shutdown?

Fannie, Freddie shutdown?

Homebuyers could feel the pinch if Congress follows through on plans to shut down Fannie Mae and Freddie Mac, the government-controlled mortgage guarantee giants that were rescued by a $187 billion taxpayer bailout during the financial crisis. Borrowers would probably end up paying slightly higher mortgage rates under House and Senate bills that would phase […]

Obama: GOP out to kill Social Security

Obama: GOP out to kill Social Security

President Barack Obama used the anniversary of Social Security to trumpet Democrats’ support for the popular program and accuse Republicans of trying to destroy it. Seventy-five years after President Franklin D. Roosevelt signed Social Security into law, Obama said in his weekly radio and Internet address Saturday: “We have an obligation to keep that promise, […]

Financial reform passes House but Senate delays action

Financial reform passes House but Senate delays action

The U.S. House of Representatives on Wednesday approved a landmark overhaul of financial regulations but the Senate put off action until mid-July, delaying a final victory for President Barack Obama. Still, the 237 to 192 vote in the House marked a win for Obama and his fellow Democrats, who have made the most sweeping rewrite […]

New White House rules for help on mortgages

New White House rules for help on mortgages

The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday. The plan comes as President Barack Obama […]