Freddie Mac, (formally the Federal Home Loan Mortgage Corporation), whose NYSE stock symbol was FRE until it delisted
On May 23, 2006, the Fannie Mae and Freddie Mac regulator, the Office of Federal Housing Enterprise Oversight, issued the results of a 27 month long investigation.
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OFHEO, now merged into the new FHFA, annually sets the limit of the size of a conforming loan in response to the October to October change in mean home price.
According to the US Treasury Department, it is a $75 billion program to help up to nine million homeowners avoid foreclosure, which was supplemented by $200 billion in additional funding for Fannie Mae and Freddie Mac to purchase and more easily refinance mortgages.
Shortly afterwards, Fannie Mae and Freddie Mac barred lenders and servicers from using the firm for foreclosures.
The subcommittee oversees urban mass transit systems and general urban affairs and development issues, HUD community development programs; the Federal Housing Administration; the Rural Housing Service; and Fannie Mae and Freddie Mac, federal corporations that help Americans with the costs of homeownership.
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In 2004 the firm had US$8.8 million in revenues, with prominent clients such as Amgen, BellSouth, Eli Lilly and Company, Freddie Mac, Fannie Mae, R.J. Reynolds, Koch Industries, Microsoft, Time Warner, Enron, and the United Parcel Service.
The newspaper has won praise for its coverage of important policy issues, including passage of the Gramm–Leach–Bliley Act, congressional debates surrounding regulation of government-sponsored enterprises like Fannie Mae and Freddie Mac, and the near-constant wave of mergers and acquisitions that affect banks.
Again, in the U.S. at the federal level, in September 2008, the chief executive officers, and board of directors Fannie Mae and Freddie Mac were dismissed, and the companies were placed into the conservatorship of the Federal Housing Finance Agency (FHFA) via the determination of its director James B. Lockhart III, with the support and financial backing of U.S. Treasury via Treasury secretary Hank Paulson's commitment to keep the corporations solvent.
On September 6, 2008, the director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government-sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.
Through the powers granted to FHFA, created by the Act, on September 7, 2008, FHFA director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA.
Among the members of the volunteer group reported in 2008 were Adobe Systems chairman Charles Geschke, Korn/Ferry chief executive Paul Reilly, former Freddie Mac CEO Richard Syron, Gerard R. Roche of Heidrick & Struggles, and former McKinsey managing director Frederick Gluck; Lawrence Bossidy, former CEO of Honeywell, has been a pro bono consultant.
Kovacevich believes that Federal Deposit Insurance Corporation insurance should be privatized, and that Fannie Mae and Freddie Mac should have no government backing in the event of a failure (quite the opposite of the course actually pursued by the United States Congress and the White House when the two lenders became insolvent in September 2008).
Update 11/25/2008 - Yield Spread Premiums are most commonly used by the Government Sponsored Enterprises (Fannie Mae and Freddie Mac) as well as the FHA and VA loan programs to 'steer' borrowers into specific tranches of interest rate most advantageous to the marketplace through specific cash incentives to the mortgage originator.
Maxine B. Baker (born 1952), Vice President of Corporate Relations for the Federal Home Loan Mortgage Corporation (Freddie Mac) and President and CEO, (1997–present) of the Freddie Mac Foundation