From the category archives:

Fannie Mae

Knock, knock. Who’s there? Freddie….

by Moe Bedard

It’s not quite “Hi, I’m from the government and I’m here to help.” 
But it’s along those lines. 

Freddie Mac, the government-controlled mortgage giant, plans to send people out to knock on the doors of borrowers who might qualify for a loan modification under President Obama’s Making Home Affordable program but haven’t completed the paperwork. 
The plan, which [...]

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Another Fannie Mae Bailout

by Moe Bedard

Will bailouts of mortgage giants Fannie Mae and Freddie Mac ever stop? Today, Fannie Mae made public to the Securities and Exchange Commission their profit and loss statement to the Securities and Exchange Commission. Total losses at Fannie Mae for 2008 are greater than 58 billion dollars.
Given President Obama’s recent plans for normalizing the housing [...]

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Fannie Mae Strikes Deal With NACA to Modify Mortgages

by Moe Bedard

NACA, the Neighborhood Assistance Corporation of America has reached an agreement with Fannie Mae to offer loan modifications and cts as an intermediary between borrowers and lenders.

The agreement was reached after NACA and Bruce Marks led approximately 100 consumer activists and homeowners in late October to Fannie Mae’s front steps. NACA’s tactics have proven to be highly effective and they wasted no time in staging a successful protest outside Fannie Mae headquarters in Washington D.C.

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Fannie Mae cuts jobs in mortgage division as they add jobs to combat foreclosures

by Moe Bedard

Fannie Mae  is cutting hundreds of local jobs at its Washington headquarters as it adds workers to combat foreclosures.

Fannie said it’s cutting jobs in its communications, technology and single-family homes divisions and adding staff to its Dallas division where Fannie Mae operates their foreclosure prevention and loss mitigation efforts. The job reductions in Washington are [...]

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Fannie Mae Gets Foreclosures and Rentals Right

by Moe Bedard

“Renters in foreclosed properties have often been a casualty of the foreclosure crisis the country is facing,” said Michael Williams, chief operating officer of Fannie Mae. “This policy will allow qualified renters to remain in Fannie Mae-owned properties should they choose to do so, mitigate the disruption of personal lives that foreclosures can cause, and help bring a measure of stability to communities impacted by high foreclosure rates.

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Meet My New Landlord, Fannie Mae

by Moe Bedard

“While it may be sometimes tougher for us to sell a property when people are in it, we understand that lots of people are in tough situations right now,” said Chuck Greener, a Fannie Mae spokesman. “If a renter wants to stay in their home, we’ll make that happen. And if they [...]

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