Some relief appears to be on the way for agents and sellers of short-sale properties. Last month, the federal government announced new guidelines affecting short sales of homes that are backed by Fannie Mae and Freddie Mac.
U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It’s the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial crisis. Fannie on Wednesday reported that it earned net income attributable [...]
Michael Williams, the CEO of Fannie Mae, won me over this week when, while testifying on Capitol Hill about big fat Fannie executive bonuses and multimillion-dollar salaries, he said this: “These are challenging jobs under challenging circumstances and we need to pay and reward the people who are doing the jobs.” The “challenging jobs under [...]
WASHINGTON — The government regulator of Fannie Mae and Freddie Mac said Thursday that million-dollar bonuses paid to executives at the companies were necessary to keep the mortgage giants running. Edward DeMarco, the acting director of the Federal Housing Finance Agency, sent a letter to U.S. lawmakers that paying a total of $12.8 million in [...]
The Obama administration rolled out revisions to a program last month designed to prevent some homeowners from going into foreclosure. But many question the Home Affordable Refinance Program’s effectiveness and say that it’s too narrow and limited to make an impact on the housing market. Others go so far as to say it could do [...]