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President Bush dropped his threat Wednesday to veto a sweeping housing bill that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.
Mortgage application volume declined 6.2% during the week ending July 18, according to the trade group Mortgage Bankers Association's weekly application survey.
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
Treasury Secretary Henry Paulson said Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac in order for the two to maintain their vital roles
Bank examiners from the Federal Reserve and the Comptroller of the Currency are scrutinizing the books of U.S. mortgage finance giants Fannie Mae and Freddie Mac, according to a published report.
Gerri Willis answers reader's questions.
Delinquencies among commercial mortgages rose slightly in June due to increases in delinquencies among office and retail sectors, credit ratings agency Fitch Ratings said Monday.
President Bush dropped his threat Wednesday to veto a sweeping housing bill that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.
Mortgage application volume declined 6.2% during the week ending July 18, according to the trade group Mortgage Bankers Association's weekly application survey.
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
Treasury Secretary Henry Paulson said Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac in order for the two to maintain their vital roles
Bank examiners from the Federal Reserve and the Comptroller of the Currency are scrutinizing the books of U.S. mortgage finance giants Fannie Mae and Freddie Mac, according to a published report.
Gerri Willis answers reader's questions.
Delinquencies among commercial mortgages rose slightly in June due to increases in delinquencies among office and retail sectors, credit ratings agency Fitch Ratings said Monday.
Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead.
Mortgage financier Freddie Mac took a step toward issuing common and preferred stock to help bolster its balance sheet Friday
Are you ready to buy a house in this crazy market? Better bring a boatload of money to the closing.
A group representing the buyers and sellers of mortgage backed securities unveiled a plan on Wednesday to recharge the moribund mortgage market.
A plan emerging in Congress would require government approval of executives' pay at Fannie Mae and Freddie Mac as part of a federal lifeline for the mortgage companies.
Rates on 30-year fixed mortgages fell for the second week in a row on increased speculation that the Federal Reserve will not raise interest rates before the end of the year, according to mortgage backer Freddie Mac.
Washington is tying itself in knots trying to shore up confidence in the financial sector.
The FBI is investigating Indymac Bancorp for fraud, a source tells CNN.
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers, The Associated Press has learned.
Americans are raiding their already fragile retirement piggy banks to weather financial hardships such as unemployment, medical emergencies and buying a home.
Question: I'm about ready to retire and I'm worried about rolling over my pension and my 401(k). Do you recommend self investing with one of the low-fee investment companies like Fidelity, Charles Schwab, etc. or one of the high-end fee companies like Smith Barney, UBS, AG Edwards etc. to get more for my buck in the long term and for the rest of my life? Is 1.4% to 2.5% a reasonable annual fee?
Mortgage application volume rose 1.7% during the week ending July 11, according to the trade group Mortgage Bankers Association's weekly application survey.
The housing finance crisis and spiraling energy costs will remain a drag on the U.S. economy for the rest of the year, Federal Reserve Chairman Ben Bernanke told lawmakers in a gloomy presentation about the economic outlook.
Fannie Mae and Freddie Mac were created to help individuals realize the American dream of home ownership, but they now find their survival at risk in the U.S. mortgage crisis.
Originally created to bail out banks during the Great Depression, the two giant mortgage companies are struggling due to a modern-day housing meltdown -
The Federal Reserve unanimously approved new mortgage lending rules Monday in a crackdown on shady practices - particularly those involving subprime loans made to borrowers with weak credit.
The dollar regained a little lost ground against most foreign currencies Monday as traders cheered the U.S. government's plan to rescue ailing mortgage finance firms Fannie Mae and Freddie Mac.
Oil prices were virtually unchanged Monday as a plan to aid the major U.S. mortgage finance firms was countered by continuing concerns about supply, particularly after Brazilian oil workers began a 5-day strike.
There was unusually high demand for Freddie Mac bonds Monday, with its routine debt auction oversubscribed; but its shares continued to waffle as investors digested the government's weekend efforts to prop up the troubled company.
The Treasury Department and Federal Reserve on Sunday outlined a comprehensive government plan to prop up Fannie Mae and Freddie Mac - the two mortgage finance giants that play a crucial role in the U.S. economy.
The euro has fallen against the dollar after the U.S. government unveiled plans to shore up mortgage lenders Fannie Mae and Freddie Mac.
The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac
The anxiety over Fannie Mae and Freddie Mac, crucial to a recovery of the battered housing market and the economy as a whole, reached a fever pitch on Friday and took shares of the companies and the broader markets on a wild ride.
Anxiety over a possible government takeover of Fannie Mae and Freddie Mac sent financial stocks into a virtual tailspin Friday.
Should the mortgage giants fail, they'll load a huge portion of America's housing debt onto the already overburdened shoulders of the government
The fate of Fannie Mae and Freddie Mac may be hanging in the balance but many mortgage borrowers already find themselves struggling to find affordable loans.
Treasury Secretary Henry Paulson, seeking to calm nervous investors about the financial state of Fannie Mae and Freddie Mac said Friday the government's primary policy focus currently is to leave the congressionally-created mortgage giants intact.
U.S. stocks were poised to drop at Friday's open as troubled mortgage finance giants Fannie Mae and Freddie Mac plunged in pre-market trading.
Wall Street advanced Thursday at the end of a volatile session in which investors swayed between scooping up shares hit in the recent battering and worrying about a $5 spike in oil prices and fresh bank and auto sector woes.
Rates on 30-year fixed mortgages edged higher during the week ended Thursday, despite a recent dip in home sales for May.
Stocks looked set for an upbeat start Wednesday as European markets rally but traders remain wary of high oil prices.
Mortgage application volume rose 7.5% during the week ending July 4, according to the trade group Mortgage Bankers Association's weekly application survey.
The plunging stock prices of mortgage finance giants Fannie Mae and Freddie Mac could make the recovery for the housing market and the overall economy much more difficult, analysts say.
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections.
Stocks headed for a stronger open Tuesday as falling oil prices met with nervousness about corporate profits and mounting woes in the financial sector.
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections.
Shares of mortgage financing giants Fannie Mae and Freddie Mac both plummeted Monday after an analyst with Lehman Brothers wrote in a report that the two companies may need to raise billions of dollars if accounting rules are changed.
Rates on 30-year fixed mortgages fell for the first time in three weeks after the Federal Reserve said last week that it expects inflation to level off, according to mortgage backer Freddie Mac.
Hope Now, the mortgage industry alliance of lenders, servicers and housing counselors, reported Wednesday that it helped roughly 170,000 homeowners avoid foreclosure in the month of May.
Mortgage application volume rose 3.6% during the week ended June 27, according to the trade group Mortgage Bankers Association's weekly application survey.
Crunching the numbers on college costs has been a particularly grim task for parents of incoming freshmen this year.
Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.
If you have a mortgage, carry credit cards and are considering a home equity loan to cope with soaring food and energy prices, you should be paying attention to what the Fed has to say.
From buying insurance to getting a mortgage, your credit score is your financial DNA. Personal Finance Editor Gerri Willis is here with her dos and don'ts of establishing good credit.
While Congress has talked for a year about a federal response to the foreclosure crisis, attorneys general have been busy helping troubled homeowners at the state level.
Rates on 30-year fixed mortgages have surged a tenth of a percentage point to a 9-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
You can sign up today to receive free credit monitoring services from the credit bureau TransUnion due to a settlement the company reached on a class-action lawsuit.
With most Americans doing a lousy job saving for their Golden Years, Barack Obama says the government has to step in.
Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that they are making a dent in the housing crisis
How bad is inflation for your portfolio? Let us count the ways.
Rates on 30-year fixed mortgages have surged nearly a quarter percentage point to an 8-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
For families with children heading off to college, this has been the year from hell. First, a record number of applicants made 2008 the most competitive year ever for college admissions. Then the credit crunch hit the college market in a big way, igniting fears of a drought in financing for all students this fall.
John McCain and Barack Obama have starkly different philosophies about tax policy - how to raise the revenue needed to support government programs, spur growth and ensure economic fairness.
Question: I was at a presentation to senior citizens who have most of their funds invested in fixed income products (CD's). The presenter showed how our investments are taxed and we don't keep up with inflation. He scared the hell out of us. Then came the product he sells which was a fixed annuity that guarantees you get all the gains from the stock market and none of the losses. Is this real?
When Lehman Brothers reported a stunning $2.8 billion loss Monday, it was just the latest sign that bad mortgage loans continue to be a problem for the financial markets and the economy.
Americans' personal debt jumped to a more-than-expected $2.6 trillion in April, according to a report from the Federal Reserve released Friday.
Rates on 30-year mortgages were pushed up this week above 6 percent amid growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
Sen. Barack Obama on Tuesday rolled out ideas he said will help stabilize the U.S. housing market, while saying President Bush's response was "too little, too late."
Northwest Airlines promises Dave Herstad 18,375 frequent flier miles when he applies for his mortgage. He gets the loan, but not the miles. After several rounds of finger-pointing between supervisors at Northwest, Lending Tree and Home Loan Center, his miles remain missing. What should he do?
Congress moved a big step closer Tuesday to expanding government efforts to help at-risk homeowners.
Senate Banking Committee leaders said Monday that they have come to a deal on a housing bill that would prevent foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.
On Capitol Hill this week, lawmakers are set to continue to grapple with the best response to the rising tide of home foreclosures. But the Bush administration says it has a solution in place: A nine-month old mortgage refinancing program run by the Federal Housing Administration.
From groceries to gasoline, everything is costing more. As schools compete to be the best by expanding campuses and adding research centers, the cost of an education is growing.
Treasury Secretary Henry Paulson is talking tough, but don't expect Washington to bring Fannie Mae to heel till the housing crisis eases.
Key lawmakers spent Thursday trying to broker a deal on a bill that would allow the government to insure up to $300 billion of home loans and overhaul oversight of key players in the mortgage industry.
Rates on 30-year mortgages eased this week, but remained above 6%, as signs that the overall economy is recovering helped offset ongoing weakness in the housing market, mortgage backer Freddie Mac said Thursday.
Freddie Mac is the latest beneficiary of wishful thinking about the housing market.
As many as 1 million borrowers from Sallie Mae, the nation's largest student lender, may have seen their credit score plunge overnight after a coding error made some student loan repayments appear delinquent.
Question: I am reluctant to get a financial planner. Will they do an analysis of your portfolio? Does that commit me to use them? How do you get their advice without hiring them as a financial planner?
Politicians in Washington are busy arguing about the financial and moral hazards of coming to the aid of troubled homeowners.
These days, more and more people are saying "Charge it."
It's entirely possible that in the future buying a house that is shocking pink, ultramodern or in a neighborhood that's up and coming (no Starbucks yet) could add an extra fee to your mortgage for what banks perceive as added risk.
Rates on 30-year mortgages edged lower this week but remained above 6% as signs of economic stability overshadowed continued weakness in the housing market.
Question: I'm looking for a financial planner. Should I find one with who is a Certified Financial Planner (CFP)?
Fannie Mae, the nation's largest buyer of home loans, expects that the housing slump will persist into next year
Mortgage financer Fannie Mae warned Tuesday that the tumbling home values and loan defaults that have crippled the U.S. economy are likely to worsen, after posting a far larger-than-expected first-quarter loss.
The percentage of homeowners who refinanced with a Freddie Mac-owned loan in the first quarter of 2008 and received mortgages with loan amounts higher than their original mortgages, fell to the lowest levels since early 2004.
A lot of jobs are in trouble in today's tough climate, but doom and gloom are the bread and butter of a personal financial planner.
A good credit score doesn't mean you can't end up in foreclosure.
You might be listening to the symphony of financial experts extolling the virtues of a 401(k) plan, often touted as the best way to save for your golden years. But that's not necessarily the case.
For years, financial firms made good money making government-guaranteed loans to college students.
Patrick and Laura Matheny began saving early for their children's college education. After stashing some $50,000 in college savings accounts for their son Daniel, now 20, and their daughter Natalie, 18, they began paying down their mortgage in earnest with the intention of tapping their home equity once the bills began rolling in.
Seven out of 10 seriously delinquent subprime mortgage borrowers are still not getting the help they need to keep their homes, according to a report released Tuesday by state officials working to stem the foreclosure crisis.
Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac.
Paying for college is rarely easy, but this year parents and students could have a tougher time securing the necessary financing.
Krista Wallis, her husband, Joe, and her 19-year-old son from a previous marriage were living a pretty good life in Oklahoma City, Oklahoma.
Americans are becoming increasingly worried about saving for their retirement as the nation's economic outlook continues to darken, according to a new survey of workers and retirees released Wednesday.
You may think your job is safe. But you still may not be spared the pain resulting from the weak labor market.
The number of individuals filing for bankruptcy surged during the first-quarter as American households struggled to stay on top of debt, according to a report released Wednesday.
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