WASHINGTON - The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.
WASHINGTON - U.S. government-owned mortgage financiers Fannie Mae and Freddie Mac could send about $179.2 billion in profits to taxpayers over the next 10 years if the terms of their bailout remain intact, the White House budget office said on Monday.
- Applications for U.S. home mortgages rose last week as interest rates slipped, an industry group said on Wednesday.
NEW YORK - New York state's banking regulator on Wednesday requested information from Nationstar Mortgage LLC about its portfolio and mortgage servicing practices, saying that it has received hundreds of complaints from consumers as Nationstar's business has seen explosive growth.
- Mutual fund manager Bruce Berkowitz, founder of Fairholme Capital Management, is pressing the boards of the mortgage-finance giants Fannie Mae and Freddie Mac to let investors have a bigger say in how the companies are run.
- Fannie Mae , the largest U.S. home funding source, said on Wednesday it plans to sell $500 million of benchmark bills on Wednesday.
WASHINGTON - President Barack Obama proposed spending $1 billion next year for the U.S. Department of Housing and Urban Development to fund a federal affordable housing trust fund established by Congress six years ago, according to the 2015 White House budget.
WASHINGTON - The U.S. Federal Housing Administration, which turned to the Treasury for aid in 2013, will avoid that fate this year due to efforts to shore up its finances, the White House predicted in its budget proposal on Tuesday.
WASHINGTON - Contracts to buy previously owned U.S. homes edged up in January after a weather-related hit at the end of last year, offering hope the housing recovery would get back on track.
NEW YORK - Societe Generale has agreed to pay $122 million to settle a lawsuit by a U.S. regulator accusing the bank of misleading Fannie Mae and Freddie Mac in the purchase of mortgage-backed securities.
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