Many experts are of the opinion that Fannie Mae and Freddie Mac played a leading role in the financial crisis. These two fall under the GSE category of Government Sponsored Enterprises. This group of financial services enhances credit flow to certain focused economic sectors to make them more transparent and efficient – agriculture, education and [...]
WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration’s national foreclosure prevention and loan modification program.The company had previously put in place a suspension of foreclosure sales through January and had previously suspended all evictions through the [...]
A housing rescue plan being considered by the Obama administration could strike at the heart of the credit crisis but its scale, complexity, and the potential for controversy poses challenges for policymakers. The plan is due to be announced by President Barack Obama on Wednesday and is expected to break new ground by helping troubled [...]
Mortgage giant Fannie Mae is testing a program to pre-approve short sales in Phoenix and Orlando, two of the areas hardest hit by foreclosures. The goal is to expedite the often difficult short-sale process by Fannie Mae agreeing on a sales price for a home on the brink of foreclosure and the loss it will [...]
