FANNIE MAE NEWS
The federal government of the United States created the Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, in 1938 to establish a secondary market for mortgages insured by the Federal Housing Administration (FHA). Fannie Mae buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market. This secondary mortgage market helps to replenish the supply of lendable money for mortgages and ensures that money continues to be available for new home purchases.
Stocks advance following sharp drop in oil prices
Thu, 24 Jul 2008 00:52:33 GMT
Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Streets concerns about the economy.
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House OKs rescue for homeowners, Freddie, Fannie
Thu, 24 Jul 2008 00:52:18 GMT
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.
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Tumbling oil, metals stocks send TSX down;lower crude lifts NY
Thu, 24 Jul 2008 00:50:30 GMT
The Toronto stock market moved lower Wednesday as the latest tumble in oil prices encouraged a further selloff in energy companies.
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DeFazio opposes rescue for homeowners
Thu, 24 Jul 2008 00:48:35 GMT
Oregon Rep. Peter DeFazio is one of just three Democrats to oppose rescue legislation aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and ...
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U.S. stocks rise on oil price and earnings
Wed, 23 Jul 2008 23:23:17 GMT
NEW YORK : U.S. stocks rose for a second day as oil retreated, lawmakers moved closer to shoring up the mortgage industry and earnings reports from AT&T and Pfizer eased concern that the profit slump will ...
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Housing bill finally getting passed? And at what cost?
Wed, 23 Jul 2008 22:29:52 GMT
It looks like the long-awaited, long-debated housing bill will finally be passed and signed into law, according to the AP .
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You Know The Banking System Is Unsound When...
Thu, 24 Jul 2008 00:47:36 GMT
Here is the first one. Paulson appears on Face The Nation and says "Our banking system is a safe and a sound one." If the banking system was safe and sound, everyone would know it .
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News
Thu, 24 Jul 2008 00:46:55 GMT
BROWNSVILLE, Texas - Hurricane Dolly barreled into South Texas on Wednesday, lashing the coast with winds up to 100 mph and dumping heavy rain that threatened to flood low-lying areas but spared levees along ...
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Bush is nursing the U.S. economy's hangover
Thu, 24 Jul 2008 00:46:38 GMT
Now we know what George W. Bush really thinks happened to his country's economy and financial markets: "Wall Street got drunk." In public, the U.S. President has been subdued in his statements about who is to ...
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Local Experts Applaud Housing Aid Bill
Thu, 24 Jul 2008 00:46:21 GMT
The House has passed legislation that aims to help 400,000 strapped homeowners who are facing foreclosure and prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.
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Modest rise: Wall St gains as oil falls
Thu, 24 Jul 2008 00:45:54 GMT
WALL Street stocks rose modestly overnight amid another sharp decline in crude oil prices and an extension of the improbable rally in beaten-down banking shares.
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House passes housing bill after Bush says he will sign it
Thu, 24 Jul 2008 00:30:57 GMT
WASHINGTON : The House on Wednesday approved far-reaching government assistance for the housing market, including broad authority for the Treasury Department to protect the nation's two largest mortgage finance ...
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House Passes Bill For Strapped Homeowners, Lenders
Thu, 24 Jul 2008 00:30:34 GMT
Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.
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Housing bill won't solve market's problems
Thu, 24 Jul 2008 00:30:02 GMT
WASHINGTON : The House passed a sweeping housing bill Wednesday that President Bush could sign as early as this week, easing some of the market's problems, but providing only modest benefits for homebuyers or ...
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George Bush backs emergency deal for Fannie Mae and Freddie Mac
Thu, 24 Jul 2008 00:22:06 GMT
The US House of Representatives last night approved a sweeping rescue Bill for the housing industry that would permit the government to back Fannie Mae and Freddie Mac, the groups that underpin America's ...
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Paulson: Rescue bill key to solving housing crisis
Thu, 24 Jul 2008 00:22:05 GMT
By MARTIN CRUTSINGER The Associated Press Wednesday, July 23, 2008; 4:07 PM WASHINGTON -- Treasury Secretary Henry Paulson said Wednesday that agreement on a sweeping housing rescue bill will send a strong ...
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House passes housing bill
Thu, 24 Jul 2008 00:21:24 GMT
Jul 23 - The House approved a major housing market rescue bill that would bolster Fannie Mae and Freddie Mac.
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Wall Street's big bet crumbles
Thu, 24 Jul 2008 00:20:59 GMT
The big momentum trade of 2008 is unwinding fast, helping to push battered banking shares upward while adding downward pressure to tumbling oil prices.
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Flat-ass broke
Thu, 24 Jul 2008 00:17:31 GMT
Where is the rest of the loot? The answer is in off balance sheet SIVs, imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds where debt is amazingly paid back ...
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House OKs rescue for homeowners, Freddie, Fannie
Thu, 24 Jul 2008 00:17:08 GMT
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.
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