JPMorgan Chase has agreed to pay $5.1 billion to resolve claims that it misled Fannie Mae and Freddie Mac about risky home loans and mortgage securities it sold them before the housing market collapsed.
The government has reported a $97.6 billion deficit for July but remains on track to post its lowest annual budget gap in five years.
Freddie Mac earned $5 billion from April through June, the seventh straight profitable quarter for the mortgage giant.
President Barack Obama, seeking to buffer taxpayers from future housing market downturns, will urge Congress this week to back bipartisan efforts to shutter Fannie Mae and Freddie Mac, the mortgage-giants bailed out by the government in 2008.
Is the Obama administration failing the housing market? Maybe.
Four and a half years after insurance giant AIG collapsed, leading to the biggest bailout of the financial crisis, former CEO Hank Greenberg has one message: Don’t blame me.
A new federal housing report is calling for the elimination of mortgage lenders Fannie Mae and Freddie Mac.
A government report finds median pay for nearly 2,000 senior managers at Fannie Mae and Freddie Mac exceeded $200,000 last year.
Federal Reserve Chairman Ben Bernanke said Thursday that banks’ overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes.
Government-controlled mortgage giant Freddie Mac is requesting $19 million in additional federal aid after posting a loss for the first quarter of this year.