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The chapter also considers the receiverships of AIG and government-sponsored enterprises (principally Fannie Mae and Freddie Mac), the engineering-assisted transactions (including JP Morgan’s acquisition of Bear Stearns and Bank of America’s purchase of Merrill Lynch), as well as other measures adopted to stabilize troubled financial institutions. [read post]
2 May 2024, 1:22 pm by Guest Author
The U.S. government committed approximately $182 billion to bail out AIG, $187 billion to bail out Fannie Mae and Freddie Mac, $40 billion to Bank of America and Citigroup, and an additional $30 billion to incentive JP Morgan Chase to buy Bear Sterns. [read post]
16 Dec 2010, 9:21 am by gstasiewicz
Here’s an excerpt from the Globe: The issue…in 2003 was whether mortgage backers Fannie Mae and Freddie Mac were fiscally strong. [read post]
6 Apr 2010, 2:00 pm by LindaMBeale
  "It's no one cause" she said--you can't blame it on Fannie Mae or any of those current whipping posts. [read post]
11 May 2018, 7:22 am by admin
By the time federal regulators finally took control of Lincoln in 1989, the S&L was insolvent. [read post]
7 Jan 2019, 9:51 am by Gregory Sisk
Federal government corporations in particular — such as Amtrak and the Federal National Mortgage Association (Fannie Mae) — are largely commercial in nature, often self-financing, and assumed to be amenable to lawsuits in much the same way that a private enterprise would be. [read post]
27 Jun 2023, 9:05 pm by renholding
Nevertheless, there is little oversight over how entities like Fannie Mae and the Federal Housing and Finance Administration license the climate risk data underlying their own longer-term risk assessments from non-governmental third parties. [read post]
24 Apr 2022, 5:09 pm by Stuart Kaplow
Attorneys currently regularly do very similar climate change work not only for existing SEC required climate disclosures but giving opinions of counsel for other federal and state government instrumentalities, including possibly most often in the realm of green mortgage finance to HUD, Fannie Mae and Freddie Mac (.. accountants cannot provide those certifications). [read post]
15 Jun 2011, 1:25 am by Mandelman
  As of June 30, 2010, the Mortgage Bankers Association reported that 4.57% of 1-4 family residential mortgage loans (roughly 2.5 million loans) were currently in the foreclosure, process a rate more than quadruple historical averages. [read post]
3 May 2010, 11:50 pm by Mandelman
The Federal National Mortgage Association is today’s Fannie Mae, and it was originally established in 1938 as part of FDR’s New Deal. [read post]
20 Mar 2015, 12:34 pm by Kelly Phillips Erb
It was concerning since Freddie Mac, together with Fannie Mae, held or guaranteed nearly half of the country’s mortgages. [read post]
24 May 2011, 2:33 am by Mandelman
 And the AVERAGE credit score for a Fannie Mae loan for the last two years is 769… yes, that’s AVERAGE. [read post]
8 Jun 2016, 2:49 pm by Kevin LaCroix
  Background  After the subprime mortgage market collapsed in 2007, Countrywide reorganized its subprime lending division to focus on originating prime loans with the goal of selling them to government-sponsored enterprises Fannie Mae and Freddie Mac (the “GSEs”). [read post]
22 Oct 2009, 11:02 am
This is like the mortgage business in a way.You fill out paper work, provide supporting documentation that indicates you are a good risk and can indeed pay back the loan, and you get your money.This is the way business was done before Congress, ACORN and Fannie Mae pushed the banks into making loans to people that did not qualify. [read post]
10 Oct 2010, 8:11 am by Mandelman
They knew they were breaking all sorts of state and federal laws. [read post]
1 Aug 2012, 5:51 am by Mandelman
  In this country, we’ve got Fannie Mae and Freddie Mac doing the same thing to American homeowners with their refusal to write down loan balances under any circumstances. [read post]
15 Feb 2011, 12:53 pm by Mandelman
Late last year, the federal banking agencies began a targeted review of loan servicing practices at large financial institutions that had significant market concentrations in mortgage servicing. [read post]
18 Apr 2012, 9:15 am by Mandelman
  In fact, the only securitizations of mortgage debt we have today are government guaranteed via Fannie, Freddie, FHA, VA, et al. [read post]
10 Feb 2011, 7:14 am by Mandelman
Why can’t they treat us like adults and just tell the truth: The money for the program, which won’t be spent anyway, was recently printed up by the Federal Reserve. [read post]
26 Jul 2011, 7:00 am by admin
  That’s not unreasonable in its own right – there are legitimate fears of developer-controlled governance, or undercapitalized condo associations – but there are unintended consequences, particularly as the federal government (FHA, along with Fannie Mae and Freddie Mac) is currently providing liquidity for roughly 90% of all mortgages:   “That’s a Catch-22 for a seller,” Scott Burman, a developer and a… [read post]