Freddie Mac

An overhaul of Fannie Mae and Freddie Mac is highly unlikely to make it into this year's legislative calendar, Congressional staffers say, possibly shifting the new administration's immediate focus to allowing the mortgage financing institutions' to rebuild depleted capital.
How the Fannie and Freddie Conservatorship Has Undermined the Resolution Process
Fannie Mae fell 66 percent to 97.5 cents at 8:30 a.m. in New York. Freddie Mac dropped 64 percent.
Fannie Mae fell 1 percent to $2.95 at 9:35 a.m. in New York, after dropping 25 percent from mid-August through last week. Freddie Mac slipped 2 percent today.
Fannie Mae and Freddie Mac, which have reported record profits after a taxpayer bailout, are ignoring billions of dollars in potential losses on delinquent loans as they take three years to adopt a new accounting system.
Freddie Mac, the U.S.-owned mortgage financier, will pay $4.4 billion to the Treasury Department after continued housing-market improvements allowed the company to post a seventh consecutive profitable quarter.
President Barack Obama will call for Fannie Mae and Freddie Mac to be replaced with a government mortgage reinsurer that would sustain losses only in catastrophic circumstances.
Some in and out of the box ideas on how to change the financial system.
Freddie Mac sued Bank of America Corp., UBS AG, JPMorgan Chase & Co. and a dozen other banks over alleged manipulation of the London interbank offered rate, saying the mortgage financier suffered substantial losses.
Fannie Mae and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans.