FANNIE MAE

The U.S. government will have to reduce its competitive role in the mortgage market to entice private investors to return, even if it means higher borrowing costs in the transition, the chief executive officer of Redwood Trust said on Monday.

Bank of America Corp appointed on Friday a new foreclosure and loan modifications czar, and created a new unit to oversee problem home loans in a bid to sort out its on-going foreclosure issues, becoming the first large U.S. bank to do so.

Mortgage companies Fannie Mae and Freddie Mac have been lobbying the Treasury to accept a lower dividend on the preferred stock issued during the government bail out, the Financial Times said, citing people familiar with the situation.

Mortgage companies Fannie Mae and Freddie Mac have been lobbying the Treasury to accept a lower dividend on the preferred stock issued during the government bail out, the Financial Times said, citing people familiar with the situation.

The financial crisis could have been avoided and was the result of poor decision making both in Washington and at top financial firms that fostered a culture of excessive risk taking, according to a draft report written by Democrats on a panel that investigated the meltdown and obtained by Reuters.

The Obama administration on Tuesday stepped up efforts to make it easier for struggling homeowners to renegotiate the terms of their mortgage, although it could be more than a year before such efforts pay off.

Bank of America (BofA) has paid $2.8 billion to mortgage finance giants Fannie Mae and Freddie Mac to settle claims that it had sold mortgages to them that did not meet specifications.

The biggest U.S. banks have stepped away from the brink of failure, but fourth-quarter earnings will likely show the financial crisis continues to weigh on profits.

To the victor go the spoils. The GOP retook the House of Representatives in the November elections and, on Wednesday, they will officially take control, with each House member – all 242 Republicans and 193 Democrats -- taking the oath of office and Rep. John Boehner, R-OH, being sworn in as Speaker.

US stocks advanced in early trade on Monday, the first trading day of 2011, on speculation that the economic recovery will continue after stocks ended with double digit gains in the previous year.

U.S. stocks were set for a higher open on Monday as returning investors bet a 2010 rally would continue in the new year and Chinese factory inflation data tempered concerns over increased monetary tightening.

Bank of America Corp agreed to settle outstanding claims on poorly underwritten mortgages it sold to government sponsored entities Fannie Mae and Freddie Mac, and said it will put aside $3 billion in the fourth quarter related to the claims.

Predictions are, by their nature, uncertain. Politics is, as history teaches, full of surprises. So predictions about politics have to be taken with a good amount of salt.

Government support for the housing market should be cautiously withdrawn and not be rushed, Scott Garrett, the incoming chairman of the U.S. House Financial Services subcommittee, told the Wall Street Journal.

Ally Financial Inc, the lender formerly known as GMAC, on Monday said it agreed to pay $462 million to Fannie Mae to avoid having to repurchase poorly underwritten mortgages sold to the housing finance giant.

The U.S. home loan demand fell sharply in the week ended Dec.17, posting a decline for fourth straight weeks as the mortgage rates hit a six-month high.

The U.S. government fell deeper into the red in fiscal 2010 with net liabilities swelling more than $2 trillion as commitments on government debt and federal benefits rose, a U.S. Treasury report showed on Tuesday.

Ben Bernanke and his friends on the Federal Reserve have a PR machine to help sell their lies. Let's assess whether Ben and his Federal Reserve have helped or hurt the average American.

Fannie Mae and Freddie Mac should make use of Obama administration programs to help borrowers who owe more than their home is worth by writing down principal, U.S. Treasury Secretary Timothy Geithner said on Thursday.

The price of corporate bailouts in 2008 and 2009 looks cheap compared to past crises, U.S. Treasury Secretary Timothy Geithner said on Thursday, while urging more drastic action from housing finance giants Fannie Mae and Freddie Mac to help homeowners.

Bank of America Corp has started negotiating with powerful mortgage investors that accused the bank of failing to buy back bad home loans, in an apparent shift in the lender's stance.