FANNIE MAE NEWS
The federal government of the United States created the Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, in 1938 to establish a secondary market for mortgages insured by the Federal Housing Administration (FHA). Fannie Mae buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market. This secondary mortgage market helps to replenish the supply of lendable money for mortgages and ensures that money continues to be available for new home purchases.
Fears of financial sector meltdown hits UK markets
Tue, 19 Aug 2008 23:00:00 GMT
FEARS that the global financial crisis could get worse in the coming months led to widespread losses in London last night as the FTSE 100 index tumbled 2.4 per cent.
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Freddie Mac draws demand for debt at higher yield
Wed, 20 Aug 2008 02:29:07 GMT
Freddie Mac, which along with rival Fannie Mae owns or guarantees almost half of all outstanding U.S. mortgages, has been facing greater uncertainty and offered a record high yield premium to attract investors ...
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Washington offers no relief for savers
Wed, 20 Aug 2008 02:24:10 GMT
Two giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it.
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European shares plunge on US subprime worries
Wed, 20 Aug 2008 02:22:35 GMT
On Monday, shares in US mortgage giants Fannie Mae and Freddie Mac - ' which together back more than 40% of all US home loans - ' fell badly on growing speculation the US government would have to bail them out.
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More Glowing Reviews for the SEC's Naked Shorting Publicity Stunt
Wed, 20 Aug 2008 02:20:49 GMT
The praise is coming in thick and strong for the SEC's naked shorting publicity stunt.
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Paulson previews agenda for next China talks
Wed, 20 Aug 2008 02:18:58 GMT
Treasury Secretary Henry Paulson said Tuesday the next round of high-level talks with China will focus on energy and environmental issues, and efforts to agree on an investment treaty.
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Large US bank collapse coming: ex-IMF expert
Wed, 20 Aug 2008 02:17:32 GMT
"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks," said Rogoff, who is an ...
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Housing starts dip to lowest level since March '91
Wed, 20 Aug 2008 02:16:51 GMT
Construction of homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday.
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' Qatar's top-selling English daily newspaper
Wed, 20 Aug 2008 02:15:59 GMT
Then in a manner that would embarrass Scrooge at Christmas he added: "We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one - ' ...
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Refinancing not always an easy ride
Wed, 20 Aug 2008 02:00:00 GMT
I recently refinanced my mortgage, and I can tell you that I don't ever want to do that again.
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Beware: `Liar loans'
Wed, 20 Aug 2008 01:58:02 GMT
In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets.
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Housing and Economic Recovery Act expected to boost market
Wed, 20 Aug 2008 01:52:28 GMT
The Housing and Economic Recovery Act of 2008, which was signed into law by President Bush on July 31, won't open the floodgates for all buyers, but it is a boon for first-time homebuyers and homeowners ...
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Euro comes off six-month lows after weak US housing data
Wed, 20 Aug 2008 01:52:01 GMT
Dealers said news that US housing fell 11 percent to a 17-year low in July roiled an already nervous market grappling with the prospect that the banking system still has more pain to take from the subprime home ...
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'Major Bank Will Go Bust'
Wed, 20 Aug 2008 01:47:04 GMT
US Finance Problems Videos 1:30pm UK, Tuesday August 19, 2008 The worst of the global financial crisis is still to come and a large US bank will fail in the next few months as America suffers more economic woe, ...
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Russia 'makes 1 bln dlrs' on Fannie Mae, Freddie Mac bonds: reports
Wed, 20 Aug 2008 01:40:40 GMT
The Freddie Mac headquarters in McLean, Virginia. Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, ...
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Toronto stocks falter as banks eclipse resources
Wed, 20 Aug 2008 01:32:00 GMT
The Toronto Stock Exchange's main index sagged on Tuesday, pressured by festering worries over the credit crisis and the U.S. economic outlook, which offset a rally in commodities.
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SEC May Propose New Rules to Curtail Short-Sale Within `Weeks,' Cox Says
Wed, 20 Aug 2008 01:28:54 GMT
U.S. Securities and Exchange Commission Chairman Christopher Cox said his agency will propose new rules aimed at curtailing manipulative short sales of stocks in the ``next few weeks.'' ``Our proposals will be ...
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Worst of the credit crunch is still to come, top economist warns
Wed, 20 Aug 2008 01:18:47 GMT
The worst of the global credit crunch is yet to come, a former IMF chief economist has warned.
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