By Jody Shenn Dec. 28 (Bloomberg) — The U.S. Treasury Department’s expansion of its capital backstops for Fannie Mae and Freddie Mac may foreshadow a shift in the government’s mortgage- modification tactics, Keefe, Bruyette & Woods analysts said. The Treasury announced Dec. 24 that the two mortgage- finance companies, which were seized by the U.S. [...]
Washington Business Journal – by Tierney Plumb Staff Reporter Government-run mortgage giants Fannie Mae andFreddie Mac are halting foreclosure evictions during the holiday season. The suspension, announced Thursday by McLean-based Freddie Mac (NYSE: FRE) and D.C.-based Fannie Mae (NYSE: FNM), is effective Dec. 19 through Jan. 3. “If the property is occupied, our attorneys will halt the [...]
Link to original article by Martin Andelman The date was December 8, 2009. Treasury Assistant Secretary for Financial Stability, Herbert Allison provided written testimony before the House Financial Services Committee. His testimony was titled: “The Private Sector and Government Response to the Mortgage Foreclosure Crisis.” And I read it. The whole damn thing. You can too. But, [...]
by Martin Andelman Wasn’t it fun this past weekend to read and hear the flurry of teaser stories that were all over the news media about how the Obama Administration was going to take some new type of very serious action related to the abject failure of the HAMP program? There was supposed to be [...]
By Julie Haviv NEW YORK (Reuters) – The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday. Mark Zandi, chief economist at Moody’s Economy.com in West Chester, Pennsylvania, said in an interview with [...]