Fannie Mae

Sep 6, 2019

Treasury unveils plan to privatize Fannie Mae, Freddie Mac

The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The administration’s plan calls for returning Fannie and Freddie […]

Sep 6, 2019

Treasury unveils plan to privatize Fannie Mae, Freddie Mac

The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The administration’s plan calls for returning Fannie and Freddie […]

Apr 9, 2014

Fannie’s new plan threatened by rift on credit for disadvantaged

Efforts to overhaul the U.S. housing-finance system could hinge on how far Congress is willing to go to ensure that young, low-income and minority homebuyers can get mortgages.

Mar 28, 2014

Fannie Mae bill seeks lender-owned mortgage-debt issuer

Fannie Mae and Freddie Mac, the mortgage-finance giants operating under U.S. conservatorship, would be unwound and replaced by a lender-owned securities issuer under a proposal from Rep. Maxine Waters.

Mar 14, 2014

Countrywide asks judge to reject U.S. claim for $2.1B

Lawyers for Bank of America Corp.’s Countrywide unit and the U.S. government returned to a federal courtroom yesterday to spar over whether the bank owes nothing – or as much as $2.1 billion – for selling thousands of defective mortgage loans to Fannie Mae and Freddie Mac.

Mar 12, 2014

Senators release details of new bill eliminating Fannie Mae

Fannie Mae and Freddie Mac would be eliminated and private interests would be on the hook for the first 10 percent of mortgage losses under a bill leaders of the Senate Banking Committee plan to introduce within days.

Feb 3, 2014

Fannie Mae fix fading due to split on mortgage plan

Reaching agreement on the future of Fannie Mae and Freddie Mac, which buy mortgages and package them into bonds, has been one of the central challenges of Washington’s response to the 2008 credit crisis.

Jan 13, 2014

Legal costs thwart big bank’s record 2013 profit

Combined profit at the six largest U.S. banks jumped last year to the highest level since 2006, even as the firms allocated more than $18 billion to deal with claims they broke laws or cheated investors.

Dec 31, 2013

Wells Fargo to pay Fannie Mae $591M

Wells Fargo & Co. agreed to pay Fannie Mae $591 million to resolve repurchase demands on loans originated before 2009 and sold to the government-backed firm.

Oct 24, 2013

Bank of America’s Countrywide found liable for defrauding Fannie Mae

The case was the first brought by the U.S. against a bank over defective mortgages to go to trial.

Aug 28, 2013

Bank of America must face mortgage fraud trial, judge rules

U.S. District Judge Jed Rakoff in Manhattan issued a ruling Tuesday rejecting the bank’s request to dismiss the case, putting it on track for a trial scheduled to begin Sept. 23.