Fannie Mae acquired $51.1 billion in loans during January, its weakest purchase month since June of last year.According to company figures, its portfolio holdings also slipped during the month -- to $725.3 billion, a 3% decline from the previous month's level. However, compared with the level recorded in January of last year, Fannie's portfolio has fallen by a stunning 19%. The company is working its way through an $11 billion earnings restatement scandal. Currently, Congress is weighing legislation to create a tougher regulator for Fannie Mae and its rival government-sponsored enterprise, Freddie Mac. A key sticking point in the bill is the size of their portfolios. The White House and the Treasury Department are in favor of shrinkage, but Democrats and some Republicans in Congress are against it.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11