The Chicago 77

22 April 2009 – The CFO of Freddie Mac was found dead in an apparent suicide. Of course, any death is a tragedy, but this is certainly a sign of the times. Treasury Secretary Timothy Geithner said Tuesday he believes most banks are liquid enough to survive the current hardships facing them. The Obama administration […]

Maybe you may have heard all the buzz about Republicans wanting a 4% fixed mortgage rate for mortgages. Let’s take a look at it a little more closely. It’s a HUGE undertaking that will be wildly expensive, and hard to implement, despite what the idea’s proponants are saying. And, you still need Wall Street’s buy-in.

Reaching for 5 Percent Government loan giants Fannie Mae and Freddie Mac, as well as the Federal Housing Authority (FHA), a division of the Dept. of House and Urban Development (HUD), have been slowly, but surely, tightening up guidelines, and making it more difficult for all but the very most qualified borrowers to get the […]

How does the new Home Valuation Code of Conduct (HVCC) recently adopted by Freddie Mac and Fannie Mae affect the appraiser and the consumer? Just as there are many layers to an onion, there are many ways to look at the financial mess this country is in. Some blame the banks, some blame the mortgage […]

The Federal Reserve has bought $10.2 billion of Fannie Mae, Freddie Mac and Ginnie Mae mortgage-backed securities. According to the New York Fedâ??s Web site they bought $6.9 billion of Freddie Mac securities, $2.9 billion of Fannie Mae bonds and $450 million of Ginnie Mae debt.