Fannie asks gov’t for almost $4.6B after 4Q loss
Mortgage giant Fannie Mae said Wednesday that it lost money in its fourth quarter and is asking the federal government for $4.57 billion in aid to cover its deficit. Washington-based Fannie said it lost $2.41 billion in the October-December quarter, stung by declining home prices. Revenue was $4.53 billion. The government rescued Fannie and sibling [...]
Refinancings have decreased in the broader markets due to rising mortgage rates, however a Federal Housing Finance Agency report shows that government-assisted loan modifications and refinancings are on the rise. According to the FHFA’s Third Quarter 2010 Foreclosure Prevention and Refinance Report, refinancings through the Home Affordable Refinance Plan increased 26-percent in the third quarter, [...]
Continue reading …A new Fannie Mae report finds that most Americans have maintained their aspirations to purchase a home, despite the ongoing housing crisis. According to the poll, 51-percent of current and potential homeowners say that their attitudes have not been affected by the real estate meltdown. Still, the study highlights the disparity between long-term optimism and [...]
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