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FHFA Head Says Fannie Mae and Freddie Mac Cannot Be Fixed
In a speech before the American Mortgage Conference, Acting Director Edward DeMarco of the Federal Housing Finance Agency (FHFA), said that Fannie Mae and Freddie Mac have little chance of emerging...
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Fannie and Freddie Executives Pay Themselves $48 Million For Sterling...
What we all wouldn’t give to be an executive at bankrupt housing agencies Fannie Mae or Freddie Mac? According to a report released by the Inspector General of the FHFA, a total of $47.8 million was...
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Fannie and Freddie Send Employees To Lavish Conference At Cost of $640,000 –...
Fannie Mae and Freddie Mac just keep on laughing at the taxpayers as they award bonuses, send employees off on expensive travel junkets and pile up losses that have already cost the taxpayers $183...
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Banking Update – Daily Banking News
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. The credit ratings of eight major banks were downgraded by Fitch. The eight global...
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Banking News – Daily Banking Update
Welcome to Banking Update, a roundup of articles and news from around the Internet. Exactly how do you keep your money safe, will Bank of America fail in 2012, a potential housing bottom, Fannie and...
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Congress Moves To Prevent FHA Collapse With “FHA Emergency Solvency Act”
The latest FHA Single-Family Outlook report from the FHA shows that serious delinquencies continue to plague the FHA. The number of seriously delinquent FHA loans increased by 18.9% from last year to a...
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Why Banks Will Continue To Blow Up
Although there were a multitude of factors involved in the banking collapse of 2008, many analysts believe that the repeal of Glass-Steagall was one of the major triggers. No less an authority than...
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Freddie Mac Stock Jumps On Earnings – What’s Next For Shareholders?
Freddie Mac (FMCC), the government sponsored agency that backs mortgage loans for millions of American home buyers reported all time record annual profit of $11 billion for 2012. Freddie Mac has been...
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Fannie Mae Stock Soars As Mortgage Delinquencies Decline
Fannie Mae’s recently released Monthly Summary reports that serious loan delinquencies decreased slightly in January. A single family home mortgage loan classified as “seriously delinquent” is three...
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Fannie Mae Is Suddenly The Most Profitable Company on Planet Earth
In early April Fannie Mae announced blockbuster profits of $17.2 billion for 2012 and $7.6 billion for the fourth quarter. The profits reported for 2012 represented the largest annual and quarterly...
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Mortgage Default Rates Soar for Senior Citizens as Feds Loosen Mortgage Rules...
The Consumer Financial Protection Bureau (CFPB) is concerned about the rapidly increasing default rate on mortgages held by senior citizens. A study done by the CFPB shows that the number of senior...
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