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Posts Tagged ‘ GSEs ’

GSEs complete 25,000 mortgage modifications in October

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GSEs complete 25,000 mortgage modifications in October

The Federal Housing Finance Agency said the rate of mortgages held by Fannie Mae and Freddie Mac more than 60-days delinquent was 4.5% at Oct. 31, flat with the end of the third quarter. In a report to Congress, the conservator of the mortgage giants said the delinquency rate inched higher to 12.9% for...
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Hoenig reiterates call for end of ZIRP, supports sunsetting GSEs

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Hoenig reiterates call for end of ZIRP, supports sunsetting GSEs

The president of the Federal Reserve Bank of Kansas City once again called for an increase in the benchmark fed funds rate away from zero to stabilize the economy and "foster a more sustained housing market." Thomas Hoenig told the National Association of Realtors in New Orleans that moving the rate off zero, where...
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Posted in Mortgage Brokers | 1 Comment »

Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

Letters from members of Congress released Friday urged President Obama and the Federal Housing Finance Administration (FHFA) to use aggressive administrative power to recover money from companies that used fraudulent and deceptive practices to shift losses on to Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), Chairman of the House of Financial Services,...
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