News

  • Landing a Reverse Mortgage Just Got Tougher by

    Seniors looking for a big cash payout from a reverse mortgage will have to look elsewhere for needed funds.

  • Fannie Mae CEO: Taxpayers Will Get Their Money Back and Then Some by

    (US News) -- With Fannie Mae and Freddie Mac both reporting record profits for 2012, taxpayers might be wondering if there's any reward for bailing out the agencies blamed for the housing bust – that is, besides saving the global financial system from imminent ruin.

  • Too Soon to Say FHA Will Need a Bailout by

    (NAR) -- Major news outlets have been talking about the Obama Administration possibly requesting $943 million from the U.S. Treasury this year to shore up the finances of the Federal Housing Administration. But whether the 80-year-old agency will actually need the cash infusion is far from clear.

  • Former Homeowners Get a Second Chance, as FHA Helps by

    (Bloomberg) -- Jason Schmitt lost his $90,000-a-year job on an oil rig in 2009. The bank repossessed his Tulsa home and a rental property, and the former U.S. Army combat engineer filed for bankruptcy. Last month, after moving with his family to his Missouri hometown, he bought the $75,000 three-bedroom home he had been renting with the help of a Veterans Administration mortgage that lets borrowers buy property only two years after a foreclosure. “I’m not embarrassed by saying we had a bankruptcy—it seems that so many people have fallen victim to losing their job,” says Schmitt, now a nursing recruiter for the U.S. Department of Veterans Affairs. “We’ve come back from this, and we are not going to give up on homeownership.”

  • Why Fannie and Freddie Should Exist in the New Mortgage Market by

    (PPI) -- They may be in federal conservatorship, but a funny thing is happening to the two “troubled” mortgage giants, Fannie Mae and Freddie Mac: They are making tons of money.

  • Fannie Mae Bailout Seen Profitable by 2023 in Obama Budget by

    (Bloomberg News) - Fannie Mae (FNMA) and Freddie Mac (FMCC), the U.S.-owned mortgage-finance companies, could return billions of dollars in profits to taxpayers who bailed them out in 2008, White House budget analysts said today.

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