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"Over the past decade Fannie Mae and Freddie Mac have reduced required down payments on loans that they purchase in the secondary market. Those requirements have declined from 10% to 5% to 3% and in the past few months Fannie Mae announced that it would follow Freddie Mac's recent move into the 0% down payment mortgage market." [153]
[275] Economist Paul Krugman wrote in January 2010 that Fannie Mae, Freddie Mac, CRA, or predatory lending were not primary causes of the bubble/bust in residential real estate because there was a bubble of similar magnitude in commercial real estate in America. [276]
In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac.In 1992, in the wake of the savings and loan crisis, and over concern that similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban ...
In 2003, the amount of private-label securities issued was about half that of Fannie Mae's, but in 2004, dollar volumes of private-label securities increased dramatically, exceeding the levels of ...
While the Bank of America deal for over $11 billion announced this week settling with Fannie Mae after the subprime mortgage disaster of 2008 is an enormous figure, in this video, Motley Fool ...
Fannie Mae's 2014 financial results enabled it to pay $20.6 billion in dividends to Treasury for the year, resulting in a cumulative total of $134.5 billion in dividends through December 31, 2014 – approximately $18 billion more than Fannie Mae received in support.
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The GSEs Fannie Mae and Freddie Mac were both placed in conservatorship in September 2008. [7] The two GSEs guaranteed or held mortgage-backed securities (MBS), mortgages, and other debt with a notional value of more than $5 trillion. [8] Merrill Lynch was acquired by Bank of America in September 2008 for $50 billion. [9]