Fannie

The reasons are complex, but boil down to Fannie and Freddie trying to protect their profits by imposing onerous fees and conditions.

And investors are trying to get a handle on the troubles facing housing finance giants Fannie Mae and Freddie Mac.

A hoot owl's mournful cry floated out of the encroaching darkness and Fannie tightened her grip on her mother's hand.

Fannie found comfort in her mother's voice, but in the darkness behind them, the steps rang louder.

Mr Paulson was still right to intervene: the collapse of Fannie and Freddie would have been a catastrophe.

But how much do you know or care about where politicians stand on Fannie and Freddie?

Fannie secured the grip on her mother's hand and clutched her rag doll tightly.

When Fannie or Freddie bought a mortgage, it freed up the bank's limited capital, allowing it to make more loans.

Fannie Mae and Freddie Mac, the two giant mortgage agencies that are also wards of the state, have continued to bleed.

Then the company took over the bank (a rescue along the lines of Fannie Mae and Freddie Mac).

Ireland had none of the American right's favorite villains: there was no Community Reinvestment Act, no Fannie Mae or Freddie Mac.

Investors have got quite a bit of protection against a housing bust because of the type of deals that Fannie and Freddie guaranteed.

But the running interest in Fannie Mae's stock might seem surprising, considering that this company was the Titanic of the mortgage market.

"No one is going to get serious about Fannie and Freddie, and what will happen to them, until we solve the current crisis, " he said.

But uncertainty about the long-term prospects of Fannie and Freddie has been a brake on the revival of securitisation.

Both Fannie Mae and Freddie Mac require mortgage insurance when a borrower takes out a mortgage for more than 80% of a home's value.

but inside Fannie, the POs are also referred to as the "grassroots" of the political operation.

The collapse of Fannie and Freddie took with it the pretense that the government could do so at no risk to taxpayers, he said.

In fact, there has already been a test case for how the mortgage market would function without Fannie and Freddie.

President Bush is among those trying to calm the nerves of investors in Fannie Mae and Freddie Mac.

The big national banks wanted more of the mortgage securities market--and wanted to see Fannie shackled.

Long before they were formally taken over, the two mortgage giants, Fannie Mae and Freddie Mac, had an implicit government guarantee.

Fannie Mae said the agreement is the single largest commitment in its history.

She changed her name from Fannie to Frances, thinking the former might subject her to ridicule.

I am skeptical of that because I know the extent to which the regulatory system is tied up in Fannie's and Freddie's political activities.

Even Republicans who dislike Fannie and Freddie talk of a careful transition and of not damaging the housing market.

Clearly, Fannie and Freddie did not originate sub-prime mortgages directly -- they are not equipped to do so.

Had Fannie and Freddie been hedge funds, this strategy would have been known as a "carry trade" .

Fannie and Freddie passed the crucial test of liquidity, which SAFE demands of any investment on its books.

If Fannie and Freddie are going to run up a tab and stick taxpayers with the bill, why should shareholders profit?

This would be a significant turn of events -- Fannie and Freddie lost more money than any other Fortune 500 company in 2009.

The rescue comes a week after a decision to rescue two enormous mortgage companies, Fannie Mae and Freddie Mac.

The Fannie Farmer Cookbook was an immediate classic when it was published in 1896. Now in its 13th edition, it's still a popular cookbook.

Rustling sounds from the brush caused Fannie to jump, but her mother's soothing voice calmed her fears.

But after wrangling with the GSEs, he became convinced that the last thing Fannie wanted was a capable regulator.

Thanks to the accounting scandal, the GSEs now face regulations that are likely to be far tougher than those in the bill Fannie helped kill.

All those Fannie Mae shares do not add up to much money.

As a result, even though just a small percentage of Fannie's and Freddie's mortgages are delinquent, the potential losses are huge.

And it was the White House that got OFHEO the funds to hire Deloitte & Touche to investigate Fannie.

During 2007 it bought government-agency debt, ie, that of Fannie Mae and Freddie Mac, rather than Treasuries.

If the Freddie and Fannie bailout were to fail, it could get a hell of a lot worse.

Subpoenas have been handed down in some cases, including Lehman and Fannie and Freddie.

This, of course, reduced the spread Fannie was able to earn on its portfolio--and threatened Fannie's earnings.

Fannie Mae and Freddie Mac, America's government-backed mortgage behemoths, will fill part of that hole.

At every turn, Fannie declared publicly its desire for a strong new regulator. And at every turn, it stonewalled behind the scenes.

If Fannie Mae and Freddie Mac remain in government hands, Bernanke said the government might create a company to offer mortgage insurance.

In the 1990s, he worked at the mortgage giant Fannie Mae, today a potent symbol of all that went wrong in the mortgage business.

Fannie Mae and Freddie Mac may not have many friends these days, but they should be able to count on a certain loyalty in Beijing.

Fannie Mae and Freddie Mac combined own roughly 17 percent of the market, while commercial banks own around 20 percent, he said.

It survived in this form until 1968, when Lyndon Johnson, then the US president, turned Fannie into a "government-sponsored enterprise" .

But back in 2008 the US government effectively nationalised Fannie and Freddie, under the fig leaf of a "conservatorship" scheme.

A week earlier, the government had seized Fannie Mae and Freddie Mac. These companies help finance most American housing loans.

Fannie and Freddie also allow a wide swath of the American public to borrow money at the same interest rates and on the same terms.

Fannie Poteet sat cross-legged on her Uncle John's front porch; her favorite rag doll clutched under one arm.

Back in 2002 the spread between the yield of Fannie's mortgage portfolio and its long-term liabilities was 63 basis points.

Fannie tripped over the chunks of gravel scattered between the ties and Ellen realized that her daughter was tired.

In order to be able to afford to offer mortgages, most small banks package their mortgages and sell them through Freddie Mac and Fannie Mae.

He called for a five-year phase-out for Fannie and Freddie, predicting a "rocky" period of uncertainty.

None of this means it makes sense to get rid of Fannie and Freddie in one go. A gradual withdrawal is needed.

Fannie Mae built up a balance sheet whose overall size was large even by the standards of the US economy and US Treasury.

Fannie and Freddie have been fighting with the banks about poor-quality loans they originated and then passed on to the agencies.

Fannie Mae did not return calls seeking comment.

Even after he was deposed as head of Fannie Mae, Franklin Raines was consulted this year by the Obama campaign for his advice on housing!

Fannie Mae and Freddie Mac, the pillars that supported our mortgage system, had been forced into conservatorship.

That, after all, was the fate of investors who bought preference shares in Fannie Mae and Freddie Mac earlier this year.

For years Fannie Mae and Freddie Mac, America's mortgage giants, resisted the creation of a regulator that could close them down.

Fannie Mae and Freddie Mac say the programs could give counties top priority to be repaid if homeowners default on their mortgages.

Fannie Mae was an ingenious device for making homebuying finance available in desperate times.

Of course, when the housing crisis caused huge losses for Fannie Mae and Freddie Mac, the federal government stepped in and bailed them out.

The U. S. Securities and Exchange Commission sued three former executives at Fannie Mae and three at Freddie Mac.

If these credit losses were to occur, they would show up on Fannie's books as cash payouts and realized losses.

The Bush administration says Fannie Mae and Freddie Mac are being placed in a government conservatorship with new executive leadership.

Fannie and Freddie shares, preferred stock, subordinated debt and senior debt are widely spread within the global financial system.

Instead they headed for an area where Fannie (and Freddie Mac, which came a little later) could not go: subprime lending.

Perhaps state-owned enterprises Fannie Mae (FNMA) and Freddie Mae (FMCC) should be deployed to refinance credit-worthy underwater borrowers.

The rescue of Fannie Mae and Freddie Mac junked both the common shares and the preferred shares (which rank above them in a bankruptcy).

Fannie may soon have to book some big, unrealized losses it has been sitting on, further reducing its book value, or net worth.

Now Fannie and Freddie will no longer generally require originators to make such representations and warranties.

Beyond that question, though, is a more important one: Do we need Fannie and Freddie at all?

Life without Fannie and Freddie is the rare goal shared by the Obama administration and House Republicans, although it will not happen soon.

European stock markets opened sharply higher, buoyed by the weekend rescue of the US mortgage giants Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac are government-sponsored mortgage insurers that have benefited from the financial rescue package.

Yet Fannie Mae and Freddie Mac still face a conflict between serving a public interest and a private one.

Fannie Mae and Freddie Mac are private, but they were created by Congress to encourage homeownership by buying mortgages from banks.

Fannie Mae has not traded that high in two years.

If Fannie and Freddie were to continue to operate with the government absorbing all their risk, they would keep a large share of the market.

Because of Treasury backing, the bulk of Fannie's and Freddie's debt (though not their preferred shares) will settle at par or close to it.

Mutual funds and other institutions have mostly abandoned Fannie Mae, as well as shares of its cousin Freddie Mac.

Worse still, Fannie and Freddie are not allowed to refinance their loans.

Like Fannie and Freddie it has become a huge force in the wholesale market by buying, packaging and reselling mortgages.

Like Fannie and Freddie it has become a huge force in the wholesale market by buying, packaging and reselling mortgages.

With Fannie and Freddie, they eventually passed the test. They may have to act more quickly and decisively next time.

Nor is there much sign, even if Fannie and Freddie are wound down, of an appetite for taking away official backing entirely.

With the collapse of the private securitisation markets, Fannie and Freddie account for 70% of new mortgage issuance.

Several staffers shook their heads as they realized how far away the Fannie and Freddie rescue seemed.

This isolation from market discipline is the root cause of the recent reports of mismanagement occurring at Fannie and Freddie .

The uncertainty surrounding the Fannie Mae and Freddie Mac CDS contacts highlights the need for improved settlement and trading procedures.

But odds also are that your Washington representatives were in the crowded ranks of Fannie and Freddie's boosters.

Fannie Mae said it is losing money so fast it may have to tap government cash to avoid shutting down.

Mudd told a congressional panel in March 2007 that Fannie's subprime business represented less than "2 percent of our book. "

My administration early on expressed concern about implicit government guarantees in the mortgage industry, in Fannie and Freddie.

But what about Fannie Mae and Freddie Mac, the vast "government sponsored enterprises" that were instrumental in stoking the subprime boom?

But the report is sure to be a factor in the debate over the future of Fannie and Freddie, which have been run by the government since 2008.

Anything that hinders Fannie and Freddie's participation in the market threatens to bring this virtuous economic circle to a grinding halt.

Fannie's heart filled with joy as her father's voice rang out of the darkness.

But think not only rewarded with Fannie Mae, it's "a loser" wait and see the premises of the United States also intends to follow up.

Brown's lawsuit argues that Fannie Mae and Freddie Mac's opposition is forcing California counties to halt plans to provide the incentives.

The federal government created Fannie Mae and Freddie Mac, the big mortgage agencies, in the interest of raising home-ownership.

Included in the downgrade were the senior issue ratings on debt issued by Fannie and Freddie, the giant mortgage-finance firms.

A former Fannie lobbyist adds that the attitude was "Just win, baby. "

Some bankers have complained that Fannie Mae and Freddie Mac weren't being flexible enough in discussions over loan modifications.

Fannie Mae and Freddie Mac own or guarantee some $5 trillion in mortgages, about half the U. S. total.

The first phase was denial, which started almost two years ago with Northern Rock and Fannie Mae and Freddie Mac.

The smooth, Princeton-educated son of a Minnesota politician ran Fannie for most of the 1990s.

The US Treasury was granted powers late last month to extend its credit lines to Fannie and Freddie and invest in their debt and equity.

Freddie Mac and Fannie Mae both had long histories of aggressive lobbying to fend off government restrictions on their business.

Allow a Fannie Mae to collapse, and the US economy might well collapse with it.

And just last week the Treasury seized control of Fannie Mae and Freddie Mac, the giant government-sponsored mortgage lenders.

Congress left several meaty matters for later, including the crippled mortgage giants, Fannie Mae and Freddie Mac .

Fannie Mae was founded during the Great Depression to buy up mortgages from banks, package them and sell them on to investors.

Fannie Mae and Freddie Mac have lately been the main support for the troubled housing market.

It gathered pace after the failures of Fannie Mae and Freddie Mac, two government-sponsored enterprises that provide cheap home loans.

Fannie and Freddie's credit problems are largely a reflection of the overall weakness in the housing market.

It is difficult to know what other analysts think, since Mr. George is just about the only one who still covers Fannie Mae's stock.

Force the Fannie and Freddie debt holders to take a haircut and convert their debt into equity.

Consistently resisted efforts to tighten regulation on the mortgage finance firms Fannie Mae and Freddie Mac.

On the financial front, the Treasury's proposal to salvage Fannie Mae and Freddie Mac is a good start and may solve the problem.

Congress created the Federal National Mortgage Association, or Fannie Mae, in nineteen thirty-eight.

Fannie Mae and Freddie Mac and their estimated $400 billion cost to taxpayers have been given no path to resolution.

Between unnaturally depressed interest rates and the buying spree by Fannie and Freddie , US property prices surged .

Since that change, Fannie and Freddie have been exploiting this assumed public backing for their shareholders' benefit.

Fannie Mae has always been run by power brokers.

Before the bust, those banks sold large amounts of loans to Fannie or Freddie, but they also held on to product like jumbo mortgages.

The size of the mortgage Fannie and Freddie can guarantee will also start to drop.

On Friday, the commission will hear from former executives and regulators of housing finance giant Fannie Mae FNM. N.

Fannie and Freddie were latecomers to subprime, and played a minor role in the explosion of irresponsible lending.

American headlines are crammed with words like "failure" , "hurting" and "Fannie Mae" .

The collapse of Lehman, the buy-up of Merrill Lynch and the nationalisations of Fannie, Freddie and AIG were obvious landmarks.

The bosses of Fannie Mae and Freddie Mac, America's limping mortgage giants, continue to draw handsome salaries.

In May 2008, four months before it went into conservatorship, Fannie Mae sold $2bn of preferred stock.

In May 2008, four months before it went into conservatorship, Fannie Mae sold $2bn of preferred stock.

Fannie and Freddie each own around $800 million in mortgage loans, some of them already at discounted values.

The banks lent to the government which lent to the U. S. Treasury and mortgage giants Fannie Mae and Freddie Mac.

Now his bluff is being called and the future of Fannie and Freddie is once again hanging like a thunder cloud over American finance.

At the same time, investors calculated that Fannie and Freddie shareholders would not benefit from the rescue.

Fannie Mae and Freddie Mac have drawn $96 billion from the Treasury under a senior preferred stock purchase agreement.

Even Fannie Mae's 2005 mortgages, most of which should have been conservatively underwritten, are suffering unusually high default rates.

Together, Fannie Mae and Freddie Mac own or guarantee roughly half of the nation's $11 trillion home mortgage market.

There are suggestions that Geithner will expand the role of the state-sponsored mortgage firms, Freddie Mac and Fannie Mae.

Clearly, everything Fannie and Freddie did was because of the profit motive -- after all, they were private corporations.

It suggests that Fannie and Freddie should be wound down over several years, and offers three different options for the future.

When America bailed out Fannie Mae and Freddie Mac, the country's two big mortgage agencies, its CDS spreads widened sharply.

The Fannie Mae saga is also about a company that lost sight of its original mission.

Pilecki's returns aside, investing in Fannie and Freddie is not for the risk averse or the faint of heart.

So Treasury Secretary Henry Paulson put Fannie and Freddie into conservatorship.

Schiff foretold the crisis before it happened, including the bankruptcy of Fannie Mae and Freddie Mac.

Once inside of the cabin, Ellen helped Fannie undress and gently tucked her in bed.

Fannie Mae will test the waters with a sale of $2 billion in bills on Wednesday this week.

These risks, though, pale into insignificance compared with Fannie and Freddie.

News about the insolvency crunch of investment bank Bear Stearns and mortgage giant Fannie Mae triggered panic sale.

Together, Fannie and Freddie own or guarantee nearly half of the nation's $12 trillion worth of home mortgages.

So Fannie and Freddie will get bigger, a welcome development when mortgage markets are in trouble.

"We are seeing a gravitation of the subprime universe from Fannie and Freddie to Ginnie" , says Mr Setia.

Meanwhile, it has a large, worthy target for reform in Fannie Mae and Freddie Mac.

At Fannie, Herb Allison, who has served for the past eight years as chairman of the investment company TIAA-CREF, succeeds Daniel Mudd.

Some argue that Freddie Mac and Fannie Mae, America's housing-finance giants, should likewise guarantee mortgages but not buy them.

What's more, banks holding Fannie and Freddie securities get to book big gains as the Fed's buying spree drives up prices.

The Fannie story is not like other accounting scandals, though.

The Treasury, Fannie and Freddie will also invest in mortgage-backed securities to make sure there is sufficient support for US homebuyers.

Fannie Mae and Freddie Mac were largely the tools of political intervention in the US housing market.

With its peer Fannie Mae, Freddie owns or guarantees about $5, 300bn in US mortgages.

Afterward cloth Feng seals the Fannie single tool supernaturally brave.

I left plenty for him and the boys on the back of the stove, but he'll want Fannie and me home.

Off-budget financing should be ended by closing Fannie Mae and Freddie Mac.

Although everybody agrees on the need to overhaul Fannie and Freddie, nobody is rushing to do much about it.

Congress approved a bailout of failing mortgage lenders Fannie Mae and Freddie Mac.

And if the Fed has to worry about safeguarding Fannie and Freddie, can it afford to raise interest rates to combat inflation?

he campaign was introduced by Fannie Mae in 1993 and was undertaken by the Foundation in 1996.

Then came the collapse of the government-sponsored entities, Fannie Mae and Freddie Mac, both promptly nationalized.

China is by far the biggest foreign holder of Fannie Mae's and Freddie Mac's asset-backed securities.

Wall Street has been holding its breath since mid-July due to fears about the fate of Fannie Mae and Freddie Mac.

So you can't say tomorrow, "liquidate Fannie and Freddie" because you wouldn't have any mortgage market for a while.

They say it is a mistake to look at Fannie's regulatory capital number, which excludes large unrealized losses.

Fannie Mae and the smaller Freddie Mac buy loans from banks and other lenders, then sell them as securities to investors worldwide.

Now, almost all new mortgages are backed by government guarantees via Fannie, Freddie and other programs.

Indeed, Fannie's troubles are far from over.

So yes, the Fannie-Freddie rescue was a good thing.

The only sure way to prevent that outcome is to phase out Fannie and Freddie.

This brought a smile to Fannie's face and swept away the darkening thoughts of boys.

The Fannie and Freddie rescue, though unavoidable, suggests the world is heading in that direction.

Despite the trading frenzy, Fannie and Freddie have become pariahs.

He proposed tighter regulation of Fannie Mae and Freddie Mac, the now-nationalised mortagage agencies.

As early as 2005, Fannie executives publicly expressed concerns about growing risks in the mortgage market.

China and Japan, the biggest buyers of Freddie Mac and Fannie Mae debt, praised the move.

In 2002 accounting sleuths and short-sellers became suspicious of Fannie's smoothly growing earnings.

Call the Fannie Mae Foundation for a free guide that can get you started on the path to homeownership.

She and her husband had to spend $7, 000 on appliances and carpet to qualify for a Fannie Mae loan.

Last week, for instance, Fannie Mae's shares jumped 47 percent one day, only to sink 14 percent the next.

Mr Paulson vowed to lend Fannie and Freddie money and buy their shares if necessary.

Fannie Mae and Freddie Mac have seen their stocks plummet in value in recent months.

Fannie and Freddie had a license to print money.

It will be a miracle if taxpayers get their money back from Fannie and Freddie.

About 10% of the fund's portfolio reflects Freddie and Fannie preferred stock.

An ancient debt instrument may help America after Fannie and Freddie.

First, he argued that Fannie and Freddie could not participate in sub-prime financing.

The government's plan for Fannie Mae and Freddie Mac initially seemed to calm nervous markets on Monday morning.

What, they asked, did Fannie's ever-growing portfolio do to lower mortgage rates?

Today, you may say, 'Oh, but I don't want to bail out Fannie and Freddie.

The bigger question is why Fannie and Freddie are needed to achieve them.

Aunt Sally kissed her lightly on the cheek and squeezed Fannie gently.

The government takeover of Fannie Mae and Freddie Mac lowered mortgage rates briefly (which helps buyers afford your home).

But Fannie and Freddie's biggest giving went to Democrats, including Dodd, House Speaker Nancy Pelosi and President-elect Barack Obama.

It will buy short-term debt issued by Fannie Mae and Freddie Mac from primary dealers.

We are strong advocates for the permanent reform of Fannie and Freddie.

Congress created Fannie Mae and Freddie Mac to buy mortgages from lenders and package them into bonds that are resold to investors.

(Think Fannie Mae and Freddie Mac. ) But, please, let's not rush there.

Congress pushed Fannie Mae and Freddie Mac to extend more loans.

When Franklin Raines took over Fannie Mae in 1999, he set an objective of doubling earnings per share.

Mijiatuoweiqi thought that should introduce Hunt Rall or this Ze horse such center player, replaces aged Lowell, Fannie.

Fannie and Freddie have $5, 400bn in outstanding liabilities, mostly guarantees on mortgages.

The difference in yields on Treasury debt and mortgage bonds guaranteed by Fannie has narrowed roughly 0. 7 percentage points.

The Treasury Department this week delayed until February its report on the future of Fannie Mae and Freddie Mac.

The loss of shareholder value in Fannie and Freddie adds to losses from exposure to the housing market and consumer debt.

At the end of June Fannie had another $9. 6 billion of repurchase requests outstanding.

The law also made the government's implicit backing of Fannie and Freddie explicit, if necessary by injecting capital into them.

This is idea, in turn, leads to the Obama administration's main conclusion: Fannie Mae and Freddie Mac should cease to exist.

Born on March 23, 1857, Bostonian Fannie Merritt Farmer greatly influenced the way Americans cook through her books and instruction.

Fannie and Freddie own or guarantee about half of U. S. mortgages, or nearly 31 million loans.

Even with Fannie and Freddie continuing to lend, he reckons the credit crunch will knock 1. 8 percentage points off GDP growth.

It also gives the government power to throw a financial lifeline to mortgage companies Fannie Mae and Freddie Mac.

Enduring reform of Fannie and Freddie is a key first step.

S. Treasury pledged to buy Fannie- and Freddie-guaranteed mortgages, thereby further putting U. S. taxpayers on the hook.

Under conservatorship, the government would temporarily run Fannie and Freddie until they are on stronger footing.

When these are taken into account, Fannie and Freddie's share of the sub-prime market financing did increase even in those years.

Fannie Mae and Freddie Mac own or guarantee nearly half of all U. S. mortgages.

In addition, Fannie and Freddie have bought insurance against borrower defaults when the homebuyer lacks a 20% deposit.

They crushed Fannie's and Freddie's stock holders.

The Fed made $20. 4 billion in interest on mortgage-related securities and debt holdings acquired from Fannie Mae and Freddie Mac in 2009.

Just don't hold Fannie Mae too long, Mr. George advised.

For more on Fannie and Freddie and the 30-year mortgage, listen to our podcast, " The Frankenstein Mortgage. "

In April, the SEC began investigating statements then-CEO Daniel Mudd made in 2007 to Congress that may have misrepresented Fannie's health.

Using net revenue, Fannie would have ranked a lowly No. 94 this year.

Using public money to spare Fannie and Freddie would increase the public debt, which now exceeds $9. 4 trillion.

Meanwhile, other downgrades will follow for financials institutions such as Fannie Mae and Freddie Mac.

THE seizure of Fannie Mae and Freddie Mac is a big moment for the housing market.

Fannie Mae (FNM) and Freddie Mac (FRE) were both taken over by the government.

Mortgages originated in 2006 and 2007 account for 24% of Fannie's business but 67% of its credit losses.

IN AMERICA the market for mortgage securities issued by Fannie Mae and Freddie Mac, America's housing-finance giants, will be tested.

But that view is based on the idea that market-value losses shown by Fannie are fleeting.

I was very worried in the 1990s about predatory lending, about systemic risk, about the stability of Fannie and Freddie.