How important is nonprofit journalism?

Donate by May 7 and your gift to The Center for Public Integrity will be matched dollar-for-dollar up to $15,000.

Obama's new plan for underwater mortgages may be too little too late

By Michael Hudson

Obama orders Fannie and Freddie to work with borrowers; earlier programs helped only a few

Excerpts from this story referencing "Fannie Mae":

"… ram, directs the president’s economic team to work with government-owned Fannie Mae and Freddie Mac, along with banks and regulators, to “help more borrower …"

"… merican taxpayer, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac,” the fact sheet says.Consumer advocates and lawyers rep …"

"… d in 2009, is available for borrowers whose home is owned or guaranteed by Fannie Mae or Freddie Mac. To qualify, a homeowner must have made a year’s worth of …"

Lax oversight of Fannie Mae and Freddie Mac

By The Center for Public Integrity

Government-sponsored companies spent $170 million on lobbying over the past decade, and contributed $4.8 million to congressional campaigns

Excerpts from this story referencing "Fannie Mae":

"… ter years of calls for Congress to create stronger regulatory oversight of Fannie Mae and Freddie Mac, time ran out in 2008 when the two mortgage giants collaps …"

"… ge giants collapsed, forcing a costly government bailout. Congress created Fannie Mae during the Great Depression to buy mortgages and free up capital so that l …"

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 Mae":

"… 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 continu …"

"… nagers and risk analysts to their staffs."Why are we punting to the future Fannie Mae and Freddie Mac --maybe we'll get around to it next year?" Sen. David Vitt …"

Advertisement

Home loans brokered by nonprofits helped fuel the housing crisis

By Jeff Horwitz and Dave Jamieson

Billions of dollars in defaults on no-money-down mortgages weigh on FHA's books

Excerpts from this story referencing "Fannie Mae":

"… evident in some places. Mildred Wilkins, then a foreclosure specialist for Fannie Mae in greater Indianapolis, a hotbed for such programs, said she began to rec …"

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 Mae":

"… 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 at …"

"… filings, congressional testimony and interviews with economists and former Fannie Mae employees. Fannie and Freddie uncharacteristically collected more than $1 …"

"… riting standards,” said Thomas Lawler, a former senior vice president of Fannie Mae who left in 2006 to start a consulting business. “A disturbingly high sh …"

"… from scratch. “I believe this committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form," Frank said, "and coming up with a …"

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

Excerpts from this story referencing "Fannie Mae":

"… enerally blamed the housing crisis on government-chartered mortgage giants Fannie Mae and Freddie Mac, which have been taken over by the government and bailed o …"

"… website for Republicans in the U.S. House of Representatives, has said: “Fannie Mae and Freddie Mac were the main cause of the nation’s current financial tu …"

Advertisement

Obama housing plan gets faint praise

The president outlined a new plan to help homeowners, GOP presidential candidates rely on free market

Excerpts from this story referencing "Fannie Mae":

"… their homes are worth.HARP allows borrowers with loans owned or insured by Fannie Mae or Freddie Mac to apply for an interest rate reduction.While the plan to e …"

"… eir homes from participation. In Nevada, two thirds of all loans backed by Fannie Mae are underwater, and half of all loans are above the 125 percent loan-to-va …"

"… the expanded HARP program, the home must have been sold to Freddie Mac or Fannie Mae on or before May 31, 2009. The borrower must be current on the mortgage wi …"

Report: Countrywide won influence with discounts

By The Associated Press

Subprime lender Countrywide bought influence of Washington elite with mortgage discounts

Excerpts from this story referencing "Fannie Mae":

"… staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report.The report, obtained by The Associated Press, …"

"… only aimed at gaining influence for the company but to help mortgage giant Fannie Mae. Countrywide's business depended largely on Fannie, which at the time was …"

"… cluded former top executive branch officials and three chief executives of Fannie Mae."Documents and testimony obtained by the committee show the VIP loan progr …"

"… not to give him a discount, and he did not receive one.—Former heads of Fannie Mae James Johnson, Daniel Mudd and Franklin Raines. Countrywide took a loss on …"

Mel Watt enjoys close ties to financial industries

By Alison Fitzgerald

Bank leaders, PACs made prospective housing agency leader a top recipient of campaign cash.

Excerpts from this story referencing "Fannie Mae":

"… sp;President Barack Obama has appointed to oversee mortgage finance giants Fannie Mae and Freddie Mac has received more campaign money from financial interests …"

"… owns to help homeowners at risk of default to stay in their houses.  Fannie Mae and Freddie Mac buy and securitize about 90 percent of all new mortgages i …"

"… ;             Fannie Mae’s and Freddie Mac’s PACs contributed $11,500 to Watt’s campaign from …"

Recommended reading: No prosecutions, no extra budget, so why not start a hedge fund?

By Julie Vorman

A roundup of recent news articles to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law ...

Excerpts from this story referencing "Fannie Mae":

"… ars for their role in the mayhem at Lehman Brothers, Bear Stearns, AIG, or Fannie Mae.The New York Times’ White Collar Watch suggests one reason why is the U. …"

Pages