FHFA

The Federal Housing Finance Agency promoted Andre Galeano to oversee its regulation and supervision of the 11 Federal Home Loan banks.

The mortgage finance giants Fannie Mae and Freddie Mac could need nearly $100 billion in bailout money in the event of a new economic crisis, according to stress test results released Monday by their regulator.

The government-sponsored enterprise is still looking for the right balance between offering a product that's attractive to investors and a cost-effective way to reduce risk.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac cannot use alternative credit models until other issues are resolved first.

A bipartisan duo of lawmakers is set Tuesday to introduce a bill designed to increase homeownership opportunities for “credit invisible” consumers.

Freddie Mac said it earned enough in the second quarter to send a $2 billion dividend to the U.S. Treasury, but the press release announcing the company’s financial results includes new language suggesting uncertainty as to whether the payment will be made as scheduled.

Regardless of whether Congress could act, proponents don’t seem to fully appreciate the potential unintended consequences of a future without Fannie Mae and Freddie Mac.

Shareholders of Fannie Mae and Freddie Mac say a trove of documents they have obtained bolsters their case that the government lied when it decided to take all of the mortgage companies’ profits.

The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.

Rather than working with large-scale investors, Freddie Mac said it will focus on assisting community organizations and local institutions to fund single-family properties for renters with special needs.