Another plaintiffs lawyer of note has landed in hot water. Joining the ranks of Bill Lerach, Mel Weiss, and Richard Scruggs, New York attorney Menachem Lifshitz has pleaded guilty to a crime ─a felony charge of falsifying his 2005 income tax return, the New York Law Journal reported today. Lifshitz [...]
Business Week |
November 23rd, 2008 |
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A debate has sprung up in the San Francisco Chronicle and on other blogs about whether it’s right for homeowners to deliberately stop making payments in order to qualify for programs that reduce their mortgage payments. There’s discussion also about whether journalists should even report that as an option. I [...]
As Henry Paulson tries to figure out the TARP's true purpose in life, he is overlooking a key problem. That is the rescue of Fannie Mae and Freddie Mac.[...]
SF Chronicle |
November 23rd, 2008 |
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Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season. The two companies said Thursday that they will halt foreclosure sales between Nov. 26 and Jan. 9 while they evaluate[...]
SF Chronicle |
November 11th, 2008 |
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If you live in the Bay Area and want to take out or refinance a home mortgage between $625,500 and $729,750, you should act fast to get a more favorable rate. Starting Jan. 1, the biggest loan on a single-family home that can be purchased by Fannie Mae and[...]
Financial Times |
November 10th, 2008 |
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The credit storm swept through Wall Street and Main Street with renewed virulence as AIG and Fannie Mae reported huge losses, a leading US retailer filed for bankruptcy and multinationals such as Nortel and DHL cut thousands of jobs[...]
The Times |
November 10th, 2008 |
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Fannie Mae, the state-owned US mortgage giant, today announced a record $29 billion loss during the third quarter and admitted it will be forced to tap a $100 billion rescue fund if the market continues to deteriorate.$[...]
USA Today |
November 7th, 2008 |
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The size of most loans eligible for Fannie Mae and Freddie Mac funding will be unchanged in 2009 at $417,000, but caps on exceptions [...]
When the government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens of millions of dollars in legal fees for the executives at the center of the housing market's collapse.[...]
CNN |
November 4th, 2008 |
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Read full story for latest details.[...]
LA Times |
November 1st, 2008 |
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The Federal Reserve chairman, in a speech, lays out options such as keeping Fannie Mae and Freddie Mac under government control. But he refrains from stating preferences. Federal Reserve Chairman Ben S. Bernanke said Friday that the housing finance system being constructed after the collapse of the current system will [...]
Ben Bernanke, the Federal Reserve chairman, cast doubt on whether Fannie Mae and Freddie Mac could ever return to the hybrid private-public structure they enjoyed before being seized by the government[...]
CNN |
October 31st, 2008 |
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Falling house prices are still a problem. Could Fannie Mae and Freddie Mac be part of the solution?[...]
The Street |
October 30th, 2008 |
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Fannie Mae and Freddie Mac shareholders were wiped out when the federal government placed them into conservatorship last month and eliminated their dividend. Yet profits from the company are being skimmed to fund homeownership programs that some see as redundant.[...]
New York Times |
October 29th, 2008 |
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Mortgage finance giant Fannie Mae said it would probably write down “substantially all” of a tax-related asset that has been a major component of its capital.[...]
Seeking Alpha |
October 27th, 2008 |
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Does General Motors (GM) carry the same implied government guarantee on its debt that Fannie Mae (FNM) and Freddie Mac (FRE) did before the government takeover? This is not as ridiculous as it sounds. Think about the political power of its reduced, but still massive work force, and that of [...]
