Fannie Mae

Pressure Mounts for Fannie and Freddie to Write Down Mortgages

By on Dec 10, 2010 in Fannie Mae, Foreclosures, Freddie Mac, GSE, Real Estate Investing | 0 comments

With property values still tumbling, it comes as no surprise that nearly a quarter of the nation’s mortgage borrowers owe more on their loan than the home is worth. Industry studies support the consensus that the farther a borrower sinks into negative equity, the more likely they are to throw in the towel. The severity of this catch-22 is now top-of-mind for...

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GSEs' Delinquency Numbers Tell Different Stories

By on Dec 2, 2010 in Fannie Mae, Freddie Mac, GSE | 0 comments

The nation’s two largest mortgage companies are still grappling with an elevated number of past-dues, although both have reported a steady falloff in the rate of loans classified as seriously delinquent — 90 or more days overdue — since early this year. The latest figures from the GSEs, however, show the rate continuing to head down for one, up for the other. Fannie...

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Underwater Mortgages Drag on Economy

By on Nov 24, 2010 in Fannie Mae, Freddie Mac | 0 comments

For almost two years, home foreclosures have swept the nation. But a bigger problem may turn out to be the millions of Americans who are still faithfully paying their mortgages, but on houses worth far less than before the bubble burst. It’s not that these homeowners will stop making their payments. It’s just the opposite – that they will keep...

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Fannie Mae's Losses Narrow, but $2.5B More Needed in Aid

By on Nov 10, 2010 in Fannie Mae, Freddie Mac, GSE | 0 comments

According to DSNews, the nation’s largest mortgage financier reported a smaller loss during the third quarter of this year than it did in the previous quarter, with the latest figures representing a $17 billion improvement over the company’s financial results just a year earlier. Fannie Mae says, though, that it needs another $2.5 billion from taxpayers to cover its...

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New Bill Calls for Refinancing of 30 Million GSE Mortgages

By on Sep 29, 2010 in Fannie Mae, Freddie Mac, GSE | 0 comments

Legislation to stabilize the foreclosure crisis through the federal government’s conservatorship of Fannie Mae and Freddie Mac was introduced in the U.S. House of Representatives Tuesday by Congressman Dennis Cardoza (D-California). The Housing Opportunity and Mortgage Equity (HOME) Act would require Fannie and Freddie to allow borrowers to refinance their mortgages...

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Permanent HAMP Mod Conversions Down 27%

By on Sep 24, 2010 in Fannie Mae, Freddie Mac, GSE | 0 comments

The administration released new data on the Home Affordable Modification Program (HAMP) Wednesday. Just over 33,000 homeowners received a permanent HAMP mod in August. That’s 27 percent below the number of permanent conversions the month before. So far, about 468,000 permanent modifications have been granted to distressed homeowners under the federal program. The...

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