Search results
Results From The WOW.Com Content Network
Role of Fannie Mae and Freddie Mac Franklin Raines earned $90 million in salary and bonuses while he was head of Fannie Mae. Fannie Mae and Freddie Mac are government sponsored enterprises (GSE) that purchase mortgages, buy and sell mortgage-backed securities (MBS), and guarantee nearly half of the mortgages in the U.S. A variety of political ...
The present Chief Executive Officers (CEOs) of both Fannie Mae and Freddie Mac have been dismissed but will stay on to help with the transition. Appointed as CEOs are Herbert M. Allison for Fannie Mae and David M. Moffett for Freddie Mac. Allison is a former vice chairman of Merrill Lynch and, for the last eight years, chairman of TIAA-CREF.
e. Government policies and the subprime mortgage crisis covers the United States government policies and its impact on the subprime mortgage crisis of 2007-2009. The U.S. subprime mortgage crisis was a set of events and conditions that led to the 2007–2008 financial crisis and subsequent recession. It was characterized by a rise in subprime ...
The root cause of the troubles that mortgage giants Fannie Mae, Freddie Mac and Ginnie Mae experienced during the financial crisis can be found in the conflicting mandates of their business models ...
By Nate Raymond NEW YORK -- Bank of America was found liable for fraud Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials ...
According to court documents, Fannie Mae gave 728 N Jennings RD Partners, LLC a directive to place $672,674.90 with their bank to cover the cost of additional repairs listed in a property ...
Lightfoot v. Cendant Mortgage Corp., 580 U.S. ___ (2017), was a United States Supreme Court case that clarified whether Fannie Mae can be sued in state courts. In a unanimous opinion written by Justice Sonia Sotomayor, the Court held that plaintiffs may file lawsuits against Fannie Mae in any state or federal court that is "already endowed with subject-matter jurisdiction over the suit."
Case. The case involved a homeowner (Henrietta Eaton) who lost her house in Massachusetts via a foreclosure sale after defaulting on her mortgage. Eaton then filed a suit against Fannie Mae in Massachusetts Superior Court alleging that the record holder of the mortgage did not also hold the promissory note at the time of foreclosure.