Mortgage Assistance

9:24am

Wed August 7, 2013
The Two-Way

Freddie Mac Earns $5 Billion In 3 Months; To Pay U.S. $4.4 Billion

Originally published on Wed August 7, 2013 9:54 am

Freddie Mac racked up a $5 billion profit in the second quarter, the mortgage backer said in its quarterly report Wednesday. The earnings are the second-highest in the history of Freddie Mac, which has now extended its streak of profitable quarters to seven in a row.

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2:58am

Thu July 18, 2013
NPR Story

Congress Takes Renewed Aim At Fannie Mae, Freddie Mac

Originally published on Thu July 18, 2013 5:45 am

Transcript

RENEE MONTAGNE, HOST:

For the first time since the housing crash, lawmakers are getting serious about dismantling the mortgage giants Fannie Mae and Freddie Mac. They were rescued with $190 million bailout. Two prominent senators - a Democrat and a Republican - have a bill that's attracting some bipartisan support. A separate Republican bill is being introduced in the House today and a third may soon come from Democrats. NPR's Chris Arnold reports.

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3:44pm

Wed July 17, 2013
Politics

Congress Debates Taking A Step Back From The Mortgage Market

Originally published on Wed July 17, 2013 5:11 pm

The government took over mortgage giants Fannie Mae (seen in 2010) and Freddie Mac in 2008, during the worst of the housing crisis.
Win McNamee Getty Images

The mortgage giants Fannie Mae and Freddie Mac got hit so hard by the housing crisis that they required a massive federal rescue. Now lawmakers are looking to scale back the two entities' role — and the government's — in the mortgage market.

The Senate Banking Committee is expected to vote Thursday on President Obama's nominee to head the agency that oversees Fannie and Freddie.

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4:13pm

Tue June 18, 2013
The Two-Way

'We Were Told To Lie,' Say Bank Of America Employees

Employees say Bank of America encouraged them to lie and falsify records to push more accounts into foreclosure.
Chuck Burton AP

Six former employees and one contractor say Bank of America's mortgage servicing unit consistently lied to homeowners, fraudulently denied loan modifications and offered bonuses to staff for intentionally pushing people into foreclosure, according to a Salon.com report.

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11:25am

Fri November 16, 2012
The Two-Way

FHA Announces Moves Designed To Avoid Taxpayer Bailout

Originally published on Fri November 16, 2012 12:40 pm

HUD Secretary Shaun Donovan in May of 2012.
Win McNamee Getty Images

The Federal Housing Administration is on track to run out of money next September and may need a taxpayer bailout, an audit released today found.

Responding to the audit, however, the Obama administration announced a series of measures that they hope will raise enough revenue to keep the agency from seeking government help.

The Wall Street Journal explains:

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