FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy

By Michael Hudson

Republicans insist that Fannie Mae and Freddie Mac "were the main cause of the nation's current financial turmoil” but a look at the data sh

Excerpts from this story referencing "Fannie":

"… s to blame for the nation’s economic mess, and two names come to mind: Fannie and Freddie.They see Fannie Mae and Freddie Mac as the villains of the fin …"

"… s economic mess, and two names come to mind: Fannie and Freddie.They see Fannie Mae and Freddie Mac as the villains of the financial crisis.GOP.gov, the o …"

"… l website for Republicans in the House of Representatives, says flatly: “Fannie Mae and Freddie Mac were the main cause of the nation's current financial …"

"… this narrative: The numbers tell a different story.The evidence indicates Fannie and Freddie contributed to the mortgage meltdown, but they played a second …"

As Fannie, Freddie flounder, six top execs receive handsome rewards

By John Solomon and Julie Vorman

Obama administration approves $34 million in compensation without market analysis of executive pay

Excerpts from this story referencing "Fannie":

"… lion in compensation to the top six executives of the financially troubled Fannie Mae and Freddie Mac mortgage giants while lacking basic protections to ens …"

"… yers for assuming the companies’ liabilities during the mortgage crisis. Fannie and Freddie are tapping Treasury Department funds each quarter to help pay …"

"… r confirmed by Senate last year to watch over federal housing programs. “Fannie Mae and Freddie Mac have received almost $154 billion in taxpayer funding …"

"… wn or guarantee about $5.4 trillion in residential mortgage obligations.”Fannie and Freddie, which support the housing market by buying mortgages from ban …"

Freddie's and Fannie's favors

By Matthew Lewis

With Congress set to weigh in on the Federal Reserve and Treasury Department’s plan to rescue Freddie Mac and Fannie Mae, the increase in po

Excerpts from this story referencing "Fannie":

"… Federal Reserve and Treasury Department’s plan to rescue Freddie Mac and Fannie Mae, the increase in political contributions by the two corporations’ po …"

"… cording to data gathered by the Center for Responsive Politics.Freddie and Fannie political spending takes many forms: The 2005 Center for Public Integrity …"

"… ic Integrity PowerTrips investigation highlighted instances of Freddie and Fannie-sponsored travel in an examination of five-and-a-half years of congression …"

"… ne 30, 2005, Freddie Mac paid $16,939.52 for 11 congressional staff trips. Fannie Mae nearly doubled that total, picking up the tab for 21 trips at a combin …"

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Why is Andrew Cuomo shielding Fannie and Freddie?

By Joe Eaton

In 2007, New York State Attorney General Andrew Cuomo set out to investigate whether Fannie Mae and Freddie Mac purchased home mortgages bas

Excerpts from this story referencing "Fannie":

"… ew York State Attorney General Andrew Cuomo set out to investigate whether Fannie Mae and Freddie Mac purchased home mortgages based on fraudulently inflate …"

"… Cuomo found. But as part of Cuomo’s agreement to drop the investigation, Fannie and Freddie quickly agreed to new rules that aim to cure inflated appraisa …"

"… ’s decision to shield the records from the light.Why does it matter what Fannie or Freddie knew about the loans they purchased? According to letters Cuomo …"

"… ns they purchased? According to letters Cuomo sent in 2007 to the heads of Fannie and Freddie — along with subpoenas — if the two bought mortgages with …"

Stockbrokers, credit raters, Fannie among study targets ordered by financial reform bill

By Julie Vorman

When faced with some of the toughest issues in writing the financial regulation reform bill, Senate and House negotiators resorted to a clas

Excerpts from this story referencing "Fannie":

"… redit rating agencies, and spelling out options for housing finance giants Fannie Mae and Freddie Mac.For instance, lawmakers sought to fast track a Securit …"

"… y Geithner six months to recommend the best way to get home finance giants Fannie Mae and Freddie Mac off the government dole. The two government-sponsored …"

"… program officer of the National Community Reinvestment Coalition, says the Fannie and Freddie report will be avidly read by lobbyists for consumer groups an …"

Fannie’s favorite son

By Matthew Lewis

The federal rescue plan for Fannie Mae and Freddie Mac is just waiting for the president’s signature at this point, but that doesn’t mean th

Excerpts from this story referencing "Fannie":

"… 00 contribution from separate Freddie officers. …"

"… mself.According to data from the Federal Election Commission, 17 of the 58 Fannie Mae officials holding “senior management” positions — as defined by …"

"… Mae officials holding “senior management” positions — as defined by Fannie’s most recent annual report — contributed at least $250 to the now-def …"

"… total they contributed $12,800. To put that in perspective, only 21 total Fannie officials contributed at least $250 to any presidential campaign.Dodd just …"

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Senior Treasury Dept. official is latest financial regulator to resign

By Julie Vorman

Yet another senior vacancy among banking regulators

Excerpts from this story referencing "Fannie":

"… xpayer put up for their lifestyle. Of course they would tell you that only Fannie and Freddie had a government guarantee, but I would ask how many large ban …"

Consumer advocate Warren returns to ring for more sparring with GOP-led panel

By Julie Vorman

Elizabeth Warren returns to GOP-led hearing for more sparring over consumer agency

Excerpts from this story referencing "Fannie":

"… research, partnerships and youth.  Begins 1430 ET and will be webcast.Fannie, Freddie legal fees – A House Financial Services subcommittee meets to d …"

"… slation that would eliminate a government-sponsored enterprise charter for Fannie Mae and Freddie Mac, and would also limit legal fees paid by Fannie and Fr …"

"… er for Fannie Mae and Freddie Mac, and would also limit legal fees paid by Fannie and Freddie to defend former top executives from private lawsuits. We …"

Obama punting on Fannie, Freddie could prove costly

By Ben Protess

Feds could likely regret leaving two faulty mortgage giants as a low priority

Excerpts from this story referencing "Fannie":

"… mediate financial problems, Treasury Secretary Timothy Geithner has pushed Fannie Mae and Freddie Mac towards the bottom of his to-do list, even as they con …"

"… bsp;new federal rule will allow homeowners who have kept paying their Fannie or Freddie mortgages to refinance even if they are underwater, meaning the …"

"… e loosening of loan standards could produce more red ink at the companies. Fannie alone lost $23 billion last quarter while Freddie lost nearly $1 …"

"… haup, a former analyst at the Congressional Budget Office and an expert on Fannie and Freddie."The default option is don't do anything until you have a cris …"

Why Fannie and Freddie continue to cost taxpayers billions

By Ben Protess

Treasury secretary to testify Tuesday on mortgage giants, Fannie Mae and Freddi Mac

Excerpts from this story referencing "Fannie":

"… he companies bailed out by the federal government, mortgage finance giants Fannie Mae and Freddie Mac are shaping up as the deepest money pits. A close look …"

"… past and recent financial filings shows why their losses continue to mount.Fannie and Freddie effectively became wards of the government in 2008. The Obama …"

"… reforming the banking system pushed them to the bottom of the to-do list. Fannie and Freddie aren't mentioned in either the Senate or House financial regul …"

"… dministration’s ideas on Tuesday when he testifies before Congress about Fannie and Freddie. But in general, the companies’ troubles have drawn less att …"