Freddie Mac
US authorities step in to rescue GSEs
The US Treasury and Federal Housing Finance Agency (FHFA) announced on Sunday details of a rescue plan to place the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac into government conservatorship.
Fannie and Freddie equity plunge continues as bailout looms
Speculation is mounting in the US that the Treasury will shortly have to give direct support to Fannie Mae and Freddie Mac, as the government-sponsored enterprises’ (GSEs) equity prices plunged to 17-year lows today.
New GSE legislation to be approved by end of week
Sweeping new legislation empowering the US Treasury to provide Fannie Mae and Freddie Mac with virtual carte blanche to access to government lines of credit could be approved by Congress as soon as the end of this week, Treasury secretary Hank Paulson…
US moves to protect Fannie and Freddie
Daily news headlines
$2.2 billion loss as Fannie Mae mortgage purchases continue
Fannie Mae has posted a $2.2 billion loss for the first three months of 2008 as the government-sponsored entity continues to take a battering for its role in propping up the ailing US mortgage market.
Call of duty
Government-sponsored Enterprises
GSEs plan $2 trillion in US mortgage purchases
Fannie Mae, Freddie Mac and their regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), have announced an initiative potentially worth $2 trillion to increase liquidity in the troubled US mortgage market.
Freddie Mac sells $6bn in stock to ward off capital fears
Freddie Mac has announced it will sell $6 billion in preferred stock, in a bid to restore regulator and investor confidence and avoid breaching minimum capital requirements.
Freddie Mac appoints Anurag Saksena as first CRO
Freddie Mac, the second largest US federal mortgage agencys, has hired Anurag Saksena as its first chief enterprise risk officer.
BNP Paribas snares six from Freddie Mac for US mortgage business
French investment bank BNP Paribas has hired six former Freddie Mac professionals, as part of an initiative to build its US mortgage business.
Fannie under fire from Ofheo
Last month, US mortgage agency Fannie Mae came under fire from its regulator – the Office of Federal Housing Enterprise Oversight (Ofheo) – for accounting and operational failures, about a year after sibling mortgage agency Freddie Mac became embroiled…
Freddie Mac opts for OpVar
Quasi-government US mortgage agency, Freddie Mac, has chosen Fitch Risk's OpVar software suite to manage its operational risk.
Freddie Mac opts for OpVar
Quasi-government US mortgage agency, Freddie Mac, has chosen Fitch Risk’s OpVar software suite to manage its operational risk.
Freddie Mac names new fixed-income investment head
Freddie Mac has hired Patricia Cook to head its fixed-income investments. Cook, who will report to Richard Syron, Freddie Mac’s chairman and chief executive, joins from JP Morgan Fleming Asset Management, where she was chief investment officer for global…
Freddie Mac fires COO
US government-sponsored mortgage financing company Freddie Mac has terminated the employment of its chief operating officer, David Glenn, it was announced today.
Derivatives veteran Brickell set to oversee US mortgage agencies
US president George Bush said he intends to nominate Mark Brickell, chief executive of Blackbird Holdings and a veteran of the derivatives industry, as director of the Office of Federal Housing Enterprise Oversight (OFHEO) at the Department of Housing…
Fannie Mae’s duration gap figure down in September
US mortgage agency Fannie Mae took the unusual step of disclosing its September duration gap figure yesterday, in a bid to alleviate concern about its risk management practice. The figures showed that the duration gap had fallen from minus 14 months in…
Freddie Mac set to issue more callable debt
Freddie Mac, the US government debt agency, is looking to issue another large callable bond in the next few months, following its record $2 billion, three-year callable issue with a one-year embedded option last month. The agency is seen as meeting…
Ofheo Unveils Mortgage Risk Rules
METHODS & REGULATIONS