Housing

5:00pm

Mon January 30, 2012
The Two-Way

Report Prompts Calls To End Freddie Mac's Conflict Of Interest

A sign for Freddie Mac in front of its headquarters in McLean, Va.
Alex Wong Getty Images

Several U.S. lawmakers and prominent economists on Monday said Congress and the White House should end a financial conflict of interest at the taxpayer-owned mortgage company Freddie Mac.

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3:08pm

Mon January 30, 2012
Economy

Mortgage Giant Places Bets Against Homeowners

Transcript

MELISSA BLOCK, HOST:

Freddie Mac is a gatekeeper in the mortgage market. In many cases, the taxpayer-owned mortgage company controls who qualifies to refinance a mortgage and who doesn't. Well, NPR has learned that Freddie Mac has been making financial wagers, betting against American homeowners being able to refinance. And now some lawmakers want to put a stop to it. NPR's Chris Arnold has been reporting this story in partnership with ProPublica.org. He has this report.

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3:01am

Mon January 30, 2012
Your Money

Freddie Mac Betting Against Struggling Homeowners

Originally published on Thu March 27, 2014 7:53 am

One of Freddie Mac's restrictions blocks people who have a short sale in their past from refinancing for two to four years following the short sale.
Rich Pedroncelli AP

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

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6:00am

Sat January 28, 2012
NPR Story

Obama's Plan To Kick-Start Housing Market

Originally published on Sat January 28, 2012 8:46 am

Transcript

SCOTT SIMON, HOST:

The future of the state of the U.S. housing market was a primary focus for the White House this week. On Tuesday's State of the Union address, President Obama unveiled a new plan to try to correct the housing downturn. It would allow qualifying homeowners the chance to refinance their mortgages at historically low rates.

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8:37am

Thu January 26, 2012
The Two-Way

Capping Worst Year On Record, Sales Of New Homes Drop In December

2011 was the worst year on record for sales of new homes. The dismal year was capped by a drop in home sales in December.

The AP reports:

"The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

"About 302,000 homes were sold last year. That's less than the 323,000 sold in 2010, making 2011 the worst year on records dating back to 1963.

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