Fannie Mae

Source: articles.moneycentral.msn.com --- 31 minutes ago
Financial stocks gained ground on word President Bush would not veto a bill that saves mortgage faints Fannie Mae and Freddie Mac. ...

Source: www.moreover.com --- 12 hours ago
WASHINGTON The House approved a sweeping plan today that responds to the most serious housing crisis since the Great Depression by providing a federal backstop for struggling mortgage giants Fannie Mae and Freddie Mac and aid to homeowners facing ...

Source: www.theoptionsinsiders.com.com --- 12 hours ago
Options Update for Amazon.com (AMZN) and Fannie Mae (FNM) ...

Source: www.businessweek.com --- 11 hours ago
Analysts' opinions on stocks in the news Wednesday ...

Source: www.marketwatch.com --- 3 hours ago
WASHINGTON (MarketWatch) -- House lawmakers approved a sweeping bill to aid homeowners and prop up Fannie Mae and Freddie Mac on Wednesday in an ambitious move to defuse the housing crisis. By a vote of 272 to 152, the House passed a plan to authorize unlimited credit to Fannie and Freddie, allow the government to insure up to $300 billion in refinanced mortgages and extend a tax break of as much as $7,500 to first-time home buyers. The Senate is expected to act on the bill later this week and President Bush is expected to sign it after dropping a threat to veto it over a $4 billion program allowing local governments to buy foreclosed homes. ...

Source: www.ft.com --- 3 hours ago
The costs of the casual assumption of government obligation for private actions will continue to mount, writes John Kay ...

Source: business.theage.com.au --- 1 day ago
Fannie Mae is struggling to find buyers for homes worth $US5 billion it acquired through foreclosures, spelling more trouble for shareholders. ...

Source: dayton.bizjournals.com --- 14 hours ago
Shares of Fannie Mae and Freddie Mac surged in midday trading Wednesday as the markets anticipated a House vote on a rescue plan for the embattled mortgage giants. (FDM) (FRE) ...

Source: eastbay.bizjournals.com --- 13 hours ago
Shares of Fannie Mae were up 12 percent and shares of Freddie Mac closed up 11 percent after a day of heavy trading Wednesday. (FNM) (FRE) ...

Source: www.marketwire.com --- 1 day ago
AUSTIN, TX (MARKET WIRE) According to market statistics analyzed by S3 Matching Technologies, the SEC's emergency order to enhance investor protections against "naked" short selling in 17 financial institution securities has reduced short sells by about 70 percent for the targeted symbols, and 90 percent of short selling of Fannie Mae and Freddie Mac securities. S3, which processes trades for the country's largest brokerages, compared short sells of Monday, July 14, prior to the SEC order, and Monday, July 21, the first day the emergency rule was implemented. ...

Source: www.marketwire.com --- 20 hours ago
AUSTIN, TX (MARKET WIRE) According to market statistics analyzed by S3 Matching Technologies, the SEC's emergency order to enhance investor protections against "naked" short selling in 17 financial institution securities has reduced short sells by about 70 percent for the targeted symbols, and 90 percent of short selling of Fannie Mae and Freddie Mac securities. S3, which processes trades for the country's largest brokerages, compared short sells of Monday, July 14, prior to the SEC order, and Monday, July 21, the first day the emergency rule was implemented. ...

Source: blog.mlive.com --- 22 hours ago
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Source: www.cato.org --- 22 hours ago
"Bank examiners from the Federal Reserve and the Comptroller of the Currency are inspecting the books of the nation's two largest mortgage finance companies, Fannie Mae and Freddie Mac, as the Bush administration prods Congress to approve a plan that would enable it to inject billions of dollars into the companies," reports The New York Times . In " Fannie Mae and Freddie Mac Should Be Cut Down and Cut Loose ," Cato Senior Fellow Alan Reynolds writes: "Potentially massive loans from the Treasury and Fed are no solution to their already excessive debt -- the last thing they need is more. These two politically privileged companies pose a 'systemic risk' to the economy precisely because they became much too big in the past two decades. Any serious solution must begin by requiring Fannie and Freddie to do what other troubled firms are routinely required to do -- sell assets, raise capital, and reduce debt. "Fannie Mae and Freddie Mac need to be downsized and de-leveraged, relieved of special privileges and loan guarantees, and broken into small pieces agile enough to sink or swim on their own, without taxpayer support." ...

Source: www.thedeal.com --- 11 hours ago
As expected, the House of Representatives Wednesday afternoon approved a lifeline package for the Federal National Mortgage Association, known as Fannie Mae, and the Federal Home Loan Mortgage Corp., or Freddie Mac. The measure was included in a housing bill that passed 272-152. What little chance there was of slowing the bill died when the White House early Wednesday dropped its threat to veto the bill over a new fund for acquiring foreclosed homes. The lifeline plan would provide a liquidity backstop to the government sponsored enterprises, or GSE. Each would receive an increase through 2009 in their lines of credit with the Treasury, now at $2.5 billion each. Second, to ensure the GSEs have access to enough capital to continue operating, Treasury may temporarily purchase equity in either GSE if needed. Third, to protect the financial system from systemic risk, the Federal Reserve Board would be given a "consultative role" in helping the new regulator set capital requirements, and safety and soundness standards. The Senate has passed its own housing bill, but leaders there have agreed to approve the House version and send it to the president quickly. - Bill McConnell ...

Source: www.timesonline.co.uk --- 15 hours ago
President Bush performed an abrupt U-turn today and dropped his opposition to a wide-ranging Housing Bill that would pave the way for a bailout of America’s stricken mortgage industry. He did so as the House of Representatives and the Senate finally reached a deal on leglislation that would permit the Government to back Fannie Mae and Freddie Mac, the mortgage groups, in an emergency and to overhaul their supervision. ...

Source: www.findingdulcinea.com --- 20 hours ago
Congress’s proposed bailout plan for the government-assisted home lenders may cost taxpayers $25 billion. Let the finger pointing begin. ...

Source: freeinternetpress.com --- 1 day ago
A federal rescue of troubled mortgage giants Fannie Mae and Freddie Mac could cost taxpayers as much as $25 billion, Congress' top budget analyst said Tuesday. Peter R. Orszag, director of the Congressional Budget Office, predicted in a letter to lawmakers that there's a better than 50 percent chance the government will not have to step in to prop up the companies by lending them money or buying stock. Congress is expected to vote this week on a housing measure that would give the Treasury Department authority to throw Fannie and Freddie a temporary lifeline. Treasury Secretary Henry M. Paulson, who has been pressing for the power, says it's intended as a backup plan to help calm investors and stabilize financial markets. Paulson said in a New York speech Tuesday that Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac - which guarantee or own almost half of the home mortgages in the country - to make sure they maintain their critically important role in housing finance. He said their continued operations were "central to the speed with which we emerge from this housing correction." ...

Source: www.heraldnet.com --- 1 day ago
WASHINGTON -- Treasury Secretary Henry Paulson spent another day stumping for the U.S. banking system, declaring Tuesday that his top priority was... ...

Source: blog.nationbuilder.org --- 1 day ago
Mortgage giant rescue could cost $25b Tuesday July 22, 12:08 pm ET By Julie Hirschfeld Davis, Associated Press Writer Congressional analysts peg cost of propping up Fannie Mae and Freddie Mac as high as $25b WASHINGTON (AP) -- A federal rescue of troubled mortgage giants Fannie Mae and Freddie Mac could cost taxpayers as much as $25 billion, Congress' top budget analyst said Tuesday. But Peter R. Orszag, director of the Congressional Budget Office, predicted in a letter to lawmakers that there's a better than even chance the government will not have to step in to prop up the companies by lending them money or buying stock. Congress is expected to vote this week on a housing measure that would give the Treasury Department authority to throw Fannie and Freddie a temporary lifeline. Treasury Secretary Henry M. Paulson, who has been pressing for the power, says it's intended as a backup plan to help calm investors and stabilize financial markets. Orszag said it's most likely that the companies will remain afloat and the government won't have to put up any money, but there's a very small possibility that Treasury will have to step in to help cover losses at Fannie and Freddie topping $100 billion. The $25 billion estimate reflects his office's best guess of how big a federal infusion would be needed. With financial markets now assuming the measure will be approved, Orszag suggested the cost of inaction could be steep, too. "It is argua ...

Source: TheState.com --- 21 hours ago
The proposed government rescue of the nation’s two mortgage finance giants will appear on the federal budget as a $25 billion cost to taxpayers, the independent Congressional Budget Office said Tuesday, even though officials conceded there was no way of knowing what, if anything, a bailout would cost. The budget office said there was a better than even chance the rescue package would not be needed before the end of 2009 and would not cost taxpayers any money. But the office also estimated a 5 percent chance the mortgage companies, Fannie Mae and Freddie Mac, could lose $100 billion, which would cost taxpayers more than $25 billion. The House is expected to act this week on housing legislation that includes the proposed rescue plan. Legislative language has been finalized, but the Congressional Budget Office said that its estimates were based on the plan by the Treasury Department and that it did not expect significant changes in the final bill. According to the estimate, which was delivered in the form of a letter to the House Budget Committee chairman, Rep. John M. Spratt Jr., D-S.C., the director of the budget office, Peter Orszag, predicted “a significant chance, probably better than 50 percent, that the proposed new Treasury authority would not be used before it expired at the end of December 2009.” The rescue plan, put forward by the Treasury secretary, Henry Paulson, would allow the Treasury Department to spend hundreds of b ...