Tag Archives: Freddy Mac

Proposed Legislation Would Replace Fannie Mae, Freddie Mac

The Future of Housing Reform A bipartisan group of U.S. Senators recently proposed a bill that would replace Fannie Mae and Freddie Mac over the next 5 years. If passed by congress, the legislation would replace Fannie and Freddie with a newly created government reinsurer called Federal Mortgage Insurance Corporation (FMIC), modeled after the Federal … Continue Reading

Citigroup Resolves Mortgage Buyback Dispute with Fannie Mae

$968 Million Settlement During the aftermath of the financial crisis, Fannie Mae and Freddie Mac have been aggressively demanding that Wall Street and big bank aggregators repurchase millions of defaulted and distressed loans for alleged breaches of representations and warranties. In line with several recent blockbuster settlements with GSEs, Citigroup Inc. has agreed to pay … Continue Reading

The FHFA’s New Buy-Back Statement

Higher Degree of Certainty and Clarity? The Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, released a statement yesterday saying it was working with those two entities, which are the nation’s major government-backed mortgage securities investors, to “provide lenders a higher degree of certainty and clarity around repurchase exposure and liability … Continue Reading

Future With Fannie and Freddie Lesser Evil Than With Wall Street?

A Rare Point of Agreement Margaret Chadbourn of Reuters recently reported {April 23} that both Republicans and Democrats have “found a rare point of agreement.” They want to phase out or at least substantially reduce the role of the Federal National Mortgage Association (Fannie Mae ) and the Federal Home Loan Mortgage Corporation (Freddie Mac … Continue Reading

Indemnification Rights for Fannie and Freddie Leads to Ironic Defense from SEC Charges

On December 16, 2011, the SEC filed two separate suits charging securities fraud by three former top executives from Fannie Mae and Freddie Mac, respectively. Both suits were filed in the U.S. District Court for the Southern District of New York, and allege that the executives knew and approved of 1) making misleading statements that … Continue Reading
LexBlog

This website uses cookies to collect certain information to help improve the functionality and performance of the site. If you choose to continue browsing this website, you agree to our use of cookies.

Accept