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Tag Archives: FHFA

Freddie Mac Asks for $1.8B More from Taxpayers after Q2 Loss

Freddie Mac reported Monday that it lost $4.7 billion during the second quarter. The GSE is asking the Treasury for another $1.8 billion of taxpayer dollars. Freddie has drawn $64 billion from its line of credit with the Treasury since the government took control of the mortgage giant in September 2008. Despite a continuous string of losses - this was the 11th in the last 12 quarters - Freddie Mac's latest earnings report actually marks an improvement. For the previous three-month period, the GSE posted a $6.7 billion loss.

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Lawmakers to Explore Ways to Recoup Money from GSEs

Leaders of the House Financial Services Committee say they are looking for ways to recoup the billions of dollars the federal government has sunk into the GSEs over the past two years. Taxpayer support to shore up Fannie Mae and Freddie Mac stands at $145 billion so far, and the tab keeps rising. Rep. Paul Kanjorski says, ""Twenty years ago, we found a way for industry to pay back the sizable U.S. Treasury payments for resolving the savings-and-loan crisis. We can do it again.""

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Study: Multiple Credit Relationships Lead to Fewer Delinquencies

A new study developed by TransUnion finds that consumers with multiple account relationships with the same lender outperform consumers who maintain only one relationship with that lender, with the biggest improvements in delinquencies seen among mortgages. The study found that borrowers whose only credit relationship with their lender was for their mortgage had a 30-day or worse delinquency rate of 4.8 percent. However, this delinquency level dropped to 4 percent if the borrower had two relationships with the lender, and that rate fell even further with each additional relationship.

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