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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 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]
Getty ImagesWASHINGTON - Revamped terms of Fannie Mae and Freddie Mac's taxpayer-funded bailout that went into effect this year will allow the mortgage finance firms to repay the U.S. Treasury ...
Economist Paul Krugman and attorney David Min have argued that Fannie Mae, Freddie Mac, and the Community Reinvestment Act (CRA) could not have been primary causes of the bubble/bust in residential real estate because there was a bubble of similar magnitude in commercial real estate in America [71] — the market for hotels, shopping malls and ...
Alamy By Margaret Chadbourn WASHINGTON -- Freddie Mac said Thursday it will soon send the U.S. Treasury a $10.4 billion dividend after posting a ninth straight quarterly profit, putting taxpayers ...
It was a year ago this week that the federal government seized ailing mortgage-finance giants Fannie Mae (FNM) and Freddie Mac (FRE). Their collapse, it was feared, could imperil the entire ...
The Housing and Community Development Act of 1992 established, for the first time, a mandate to Fannie Mae and Freddie Mac for loans to enable home ownership of less expensive housing, a mandate to be regulated by the Department of Housing and Urban Development (HUD). Initially, the 1992 legislation required that 30% or more of Fannie's and ...
Fannie Mae, Freddie Mac and the Trump campaign didn't immediately respond to Reuters' requests for comments. Trump allies have discussed having the Treasury Department partially back some part of ...