Fannie Mae’s (FNM)MyCommunity Mortgagewas at the forefront of the credit crisis, and had many sub-programs, all targeted at low income communities and borrowers. These programs supposedly highlighted the mission that made these GSEs as essential: they were doing what the private sector would no...
The financial toll of the pandemic on Fannie Mae and Freddie Mac was significant, as these agencies provided vast liquidity to the mortgage and rental markets. Fannie Mae saw its net income decline by over 20% between 2019 and 2020, and Freddie Mac saw a drop of over 17%. However, both ...
First, let me review a little of the history of how we got here. Fannie Mae (otherwise known as the Federal National Mortgage Association) was created by an act of the United States Congress in 1938 as a government-sponsored enterprise (GSE) intended to purchase loans that had been guarante...
Fannie Mae is not required to file regular financial reports with the Securities and Exchange Commission (SEC), although in 2002 it began to do so under pressure from SEC and Congressional investigators. In 2004, the SEC required the company to restate several years of earnings statements, allegi...
Examining data reported FannieMae itsannual 10-K filing ExchangeCommission, one sees clearpattern sizablepurchases FICOscores below 660 (Table 2007,18 percent FannieMae direct whole mortgages purchased displayed under660. typicalsubprime loan smallerthan typicalprime loan, measuring loan activity likely...
If you think reform of the mortgage system which includes ridding the world of Fannie (FNMA) and Freddie (FMCC) is likely you might want to consider this. Fannie Mae said it will make a $10.2 billion dividend payment in September to the U.S. Treasury for
Frank’s comments widened the spread on Fannie Mae’s two-year debt and prompted a reaction from the U.S. Treasury Department, which reiterated its financial support for the companies. “There should be no uncertainty about Treasury’s commitment to support Fannie Mae and Freddie Mac as they ...