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Big Banks Face Suits on Mortgage Bond Losses
Keywords:
Large U.S. Banks and the Federal Housing Finance agency 2011 lawsuit over mortgage losses
09/01/2011
Legal action against large financial institutions over mortgage losses.
Grouped Articles
Big Banks Face Suits on Mortgage Bond Losses
Wall Street Journal 09/03/2011
U.S. Said to Be Ready to Sue Banks Over Mortgages
New York Times 09/01/2011
Wall Street Journal 09/07/2011
California Pulls Out of Foreclosure Talks
Wall Street Journal 09/30/2011
U.S., Banks Agree on Foreclosure Pact
Wall Street Journal 02/09/2012
Settlement Lifts Hopes For Housing Recovery
Wall Street Journal 02/10/2012
Fannie and Freddie in 2010-2011
06/19/2010
The growing US governmet liability for Fannie and Freddie -companies that fueled the housing bubble with their implicit governmet guarantees to investors in housing mortgages. The cost of rescue has reached $146 billion and according to the Congressional Budget Office could have eventual cost of $389 billion.
Grouped Articles
Fannie Mae and Freddie Mac: Unfinished business
Economist 07/24/2010
Cost of Fannie And Freddie Keeps Rising
New York Times 06/19/2010
Fannie, Freddie Elicit Grim Forecast
Wall Street Journal 10/22/2010
What Fannie and Freddie Might Cost the Taxpayers
New York Times 10/21/2010
Wall Street Journal 10/26/2010
New York Times 10/31/2010
Edward DeMarco, head of the U.S. Federal Housing Finance Agency and underwater mortgage borrowers in the U.S.
08/31/2011
The Federal Housing Finance Agency was formed in 2008 by merging two existing regulatory agencies and given additional powers. Later that year Fannie and Freddie were taken over by the U.S. government. FHFA acts as the independent regulatory agency for Fannie Mae and Freddie Mac. FHFA's head, Edward DeMarco, sees his mandate as protecting the taxpayer from losses and this leads to reluctance to support steps to help underwater mortgage borrrowers with reduction in payments. Sheila Bair, former head of the FDIC, says she understands its not the FHA's mandate to provide fiscal stimulus, and the Obama administration has been all over the place in its policies for troubled homeowners. The result of the muddled policies of the federal government and agencies is the lack of help for troubled homeowners, and larger headwinds to Fed policies to give the U.S. economy momentum.
Grouped Articles
Big Job: Agency Oversees Half of Nation's Mortgages
Wall Street Journal 05/02/2013
Fannie, Freddie: Can't Live With 'Em, Can't Live Without 'Em
Wall Street Journal 05/04/2013
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Federal Housing Administration in the Black for First Time Since 2011
Wall Street Journal 11/18/2014
An Accidental Housing Chief Embraces the Power of 'No'
Wall Street Journal 08/31/2011
Big Banks Face Suits on Mortgage Bond Losses
Wall Street Journal 09/03/2011
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