Bank of America Corp expects to get past large mortgage losses over the next few years and reach pretax profits of as much as $40 billion annually, its chief executive said.
The U.S. Federal Reserve's balance sheet expanded to a record size in the latest week, as the central bank continued to purchase bonds, Fed data released on Thursday showed.
Treasury Secretary Timothy Geithner said on Tuesday that future mortgage costs likely will be modestly higher after reforms are completed to the national housing finance system.
Congress should pass legislation overhauling the U.S. housing finance system within two years, though it should not act in haste, Treasury Secretary Timothy Geithner said.
A top Federal Reserve official said on Monday the economy should do well in 2011 and that oil prices rising on tensions in the Middle East are not currently a drag on the recovery.
Homeownership as an investment is no longer the rock-solid foundation for the American Dream it once was, according to a survey released on Monday by the firm the government created in the 1930s to promote homeownership.
A top Freddie Mac executive received notice the government may file charges against him for allegedly violating securities laws in the years leading up to the housing bust, according to a regulatory filing released on Thursday.
A key congressional panel charged with overseeing financial matters plans to question Fannie Mae and Freddie Mac executives over their multimillion-dollar compensation packages paid for by U.S. taxpayers.
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions in taxpayer dollars to pay legal bills for former executives accused of fraud.
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions of taxpayer dollars to pay legal bills for former executives accused of fraud.
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions of taxpayer dollars to pay legal bills for former executives accused of fraud. Michael Williams, Fannie Mae's chief executive and Edward DeMarco, director of the Federal Housing Finance Agency, each told a U.S. House of Representatives panel that not paying for the legal aid would be counterproductive
Fannie Mae has booted Florida-based foreclosure law firm Ben-Ezra & Katz from its retained attorney network after noticing that the firm was not handling its matters in strict compliance with proper procedures, ethical codes of conduct and legal requirements.
U.S. stocks opened modestly lower on Monday as investors awaited the release of President Obama's budget.
Futures on major U.S. stock indices point to a mixed opening on Monday, after indices recorded a second straight week of gains on Friday.
The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.
The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.
Stocks rallied after Hosni Mubarak resigned as president of Egypt and the Obama administration announced plans to dissolve Fannie Mae and Freddie Mac
U.S. stocks rose on Friday after President Hosni Mubarak resigned, helping clear Egypt's clouded political picture and lifting investor sentiment.
The Obama administration will propose a wind-down of government-controlled mortgage buyers Fannie Mae and Freddie Mac, according to documents obtained by Reuters.
U.S. stocks rose on Friday as the clouded political picture in Egypt cleared somewhat following the resignation of President Hosni Mubarak, lifting investor sentiment.
The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.
The U.S. trade deficit widened in December to its highest level in four months, the U.S. government said on Friday in a report that also showed the annual trade gap expanded nearly 33 percent in 2010 as imports from China hit record levels.
