Fannie Mae

New CEO for Fannie Mae

Michael Williams has been appointed president and chief executive for US mortgage lender Fannie Mae.

Fannie Mae hit by $25.2 billion loss in Q4

Government sponsored entity (GSE) Fannie Mae announced losses of $25.2 billion for the fourth quarter of 2008 yesterday, linked to mortgage defaults, falling home prices and ailing credit markets. The poor showing was driven by $12.3 billion in net fair…

Clearing CDS for lift-off

A new single-name North American credit default swap (CDS) contract, due to be launched next month, is expected to bring greater standardisation to the market and pave the way for central clearing.

Cash-settlement auctions working, says Isda

The auction process for cash-settling credit derivatives trades has been tested recently but is working well, said Bob Pickel, chief executive of the International Swaps and Derivatives Association, at a symposium held by the organisation in New York on…

Dealers vote for third LCDX auction

The International Swaps and Derivatives Association will publish terms for a cash-settlement auction on loan credit default swaps (LCDSs) referencing Hawaiian Telecom over the coming weeks.

US home loan modification scheme unveiled

In an effort to halt home foreclosures, the Federal Housing Finance Agency (FHFA), in conjunction with Fannie Mae and Freddie Mac, unveiled a programme to ease payment terms for hundreds of thousands of US mortgage holders on Tuesday.

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