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By 2008, the GSE owned, either directly or through mortgage pools they sponsored, $5.1 trillion in residential mortgages, about half the amount outstanding. [93] The GSE have always been highly leveraged, their net worth as of 30 June 2008 being a mere US$114 billion. [94]
A HomeReady loan is often a 30-year fixed-rate mortgage, but it’s also available in 10-, 15- and 20-year fixed-rate terms, as well as five-, seven- and 10-year adjustable-rate terms. HomeReady ...
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.
The Dow Jones loses 22.1 percent, its worst week on record, down 40.3 percent since reaching a record high of 14,164.53 October 9, 2007. The Standard & Poor's 500 index loses 18.2 percent, its worst week since 1933, down 42.5 percent in since its own high October 9, 2007.
In Houston, the median condo sales price fell 6.5% between mid-2023 and mid-2024. Jacksonville, Fla., saw a similar 6.6% decline in that period. For now, though, condo prices are still holding up ...
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 ...
The South saw the largest month-over-month increase, improving 5.2% from October and 8.5% from a year ago. All parts of the country saw more contract activity compared with November 2023, led by ...
The crisis began to affect the financial sector in February 2007, when HSBC, one of the world's largest banks, said its charge for bad debts would be $10.5 billion (~$14.9 billion in 2023), 20% higher than expectations. The increase was driven by increased expected losses in its US mortgage portfolio; this was the first major subprime related ...