Archive for May, 2013


Fannie and Freddie Keep Tumbling: Financial Losers (Update 1)

Updated from 2:27 p.m. ET with market close information and additional comments on Thursday from Michael Kao of Akanthos Capital Management. NEW YORK (TheStreet) Fannie Mae (FNMA) and Freddie Mac (FMCC) continued their epic slide on Thursday, following their change of course on Wednesday. Shares of Fannie Mae dropped 40% to close at $1.73. The […]

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Kickbacks as ‘a natural part of business’ at Fannie Mae alleged

Granillo, a foreclosure specialist at mortgage giant Fannie Mae, expected to drive off with $11,200 — an illegal kickback for steering foreclosure listings to brokers, authorities allege in court records. Granillo would leave in handcuffs. And investigators are now looking into assertions by Granillo and another former Fannie Mae foreclosure specialist that such kickbacks were […]

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Kickbacks alleged to be common at Fannie Mae

Before dawn one hazy March day in Los Angeles, Armando Granillo pulled his SUV into a Starbucks near MacArthur Park, where he planned to pick up an envelope full of cash from an Arizona real estate broker, federal investigators say. Granillo, a foreclosure specialist at mortgage giant Fannie Mae, expected to drive off with $11,200 […]

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Fannie, Freddie extend loan modification programs

Jeff Clabaugh Broadcast/Web Reporter- Washington Business Journal Email  | Twitter Fannie Mae and Freddie Mac have extended two loan modification programs, following an extension of the programs by the Department of Housing and Urban Development for non-Fannie and Freddie loans. The Federal Housing Finance Agency, which oversees both Fannie and Freddie, says the two will extend […]

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Fannie Mae’s Stock-Market About Face

Recs 5 By Matt Koppenheffer and David Hanson More Articles May 30, 2013 Comments (4) The OTC-traded common shares of Fannie Mae are up over 750% over the past 12 months but have plummeted during the past several days of trading. Is this a pure speculation play, or is there actually opportunity for Foolish investors? In […]

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Daniel Mudd, Fannie Mae's Former CEO, Is Doing Awesome

In the cherry-paneled library in his six-bedroom house in Greenwich, Conn., with his arms stretched high above his head, Daniel Mudd is gripping an imaginary shovel. He’s telling a story about how he once woke up in Lebanon, in 1983, with another U.S. Marine holding a real one just like that, about to bring it […]

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Freddie Mac: 30-year mortgage rate hits 3.81%, highest in a year

Mortgage rates shot sharply higher this week in reaction to the improving economy, with Freddie Mac’s survey reporting that the average for a 30-year fixed loan rose from 3.59% last week to 3.81% — the highest in more than a year. The survey, out Thursday, showed the typical rate that lenders were offering on a […]

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Freddie Mac: "Fixed Mortgage Rates Highest in a Year"

From Freddie Mac today: Fixed Mortgage Rates Highest in a Year Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates following long-term government bond yields higher. The average 30-year fixed moved up nearly half a percentage point since the beginning of May when it averaged 3.35 percent. […]

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Pending home sales hit three-year high

In my apartment, the cordless phone sits right next to the 2,400 baud modem … in my drawer of outdated gadgets. My last VCR sits at the bottom of a landfill, buried right next to my VHS copy of “Y2K: The Movie.” But for some consumers right here in America, ancient technologies are still a […]

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Fixed Mortgage Rates Highest in a Year

Stocks End Higher as Central Banks’ Stimulus Seen IntactReuters Wall Street bounced back on Thursday from declines in the prior session as weaker-than-expected economic data kept …

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