Fannie Mae, which is still trying to get its financial books in order, says it earned $6.35 billion in 2005, a 28% increase from the profits recorded in the prior year.The congressionally chartered mortgage giant said it expects to release results for 2006 later this year. In a filing with the Securities and Exchange Commission May 2, Fannie revealed that its strongest profit growth came in the capital markets area, where it had net income of $2.99 billion, up 42% from that of 2004. Its two other main business segments -- the single-family credit business, and housing and community development -- earned $2.88 billion (up 15%), and $462 million (up 37%), respectively. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27