Mortgage financing giants Fannie Mae and Freddie Mac are seeing a marked improvement in home values, which is significantly boosting their bottom lines even as Washington considers abolishing them. The news out of the two firms, which back the majority of U.S. mortgages, is the latest sign that the housing market may be turning a [...]
Do Fannie Mae, Freddie Mac Profits Signal Housing Market Turning a Corner?
August 9, 2012 | Posted by
SunTrust Banks Subject of HUD Investigation of Discriminatory Lending Practices
August 7, 2012 | Posted by
SunTrust Banks, Atlanta’s largest bank is under investigation by a federal agency over its practices in making mortgages that were guaranteed by the government. The U.S. Department of Housing and Urban Development notified SunTrust Banks April 25 of an investigation “relating generally to origination practices” for Federal Housing Administration loans, the bank said in a [...]
No Principal Reductions for Fannie Mae, Freddie Mac Borrowers
August 1, 2012 | Posted by
Financially strapped borrowers whose mortgages are backed by Fannie Mae and Freddie Mac will not be allowed principal reductions to help save their homes from foreclosure, a decision that will impact consumers as well as communities. Federal Housing Finance Agency acting Director Edward DeMarco said Tuesday that forgiving a portion of the amount due on [...]
