Fannie, Freddie Overhaul Could Cost $685 Billion

The total cost to rescue and then overhaul mortgage giants Fannie Mae and Freddie Mac could reach $685 billion, according to estimates by Standard & Poor's.

Sections:  news   politics   business   
RELATED ARTICLES
  • S&P cuts Egypt's credit ratings
    Ratings agency Standard & Poor's has pushed Egypt's sovereign credit ratings deeper into junk status, citing "continued pressure" on foreign reserves. More
  • Banks Revive Risky Loans and Mortgages
    Investments that were vulnerable in the last financial crisis and believed to be gone for good have largely escaped new rules that were made to prevent another crisis. More
  • Fannie earns $17.2B in 2012, biggest annual gain
    Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter. More
  • Judge questions fairness of Citigroup $590 million settlement
    A Manhattan federal judge on Monday signaled he will not rubber-stamp Citigroup Inc's proposed $590 million settlement of a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets. More
  • S.&P. 500 Breaks Through 2007 Closing High
    The benchmark index has repeatedly come close in recent days, but has pulled back each time as investors grappled with concerns about the banking crisis in Cyprus. The benchmark index was recently trading over 1,565.15 points, up 0.2 percent, despite a report of rising claims for unemployment benefits. More
BING NEWS:
  • Mortgage Regulators Are Shrugging Off Climate Risk. It Could Cost Taxpayers Billions.
    Fannie Mae and Freddie Mac, which backstop most U.S. mortgages, know floods and fires are a growing problem. But little action has been taken. By Lydia DePillis As sea levels rise and natural ...
    12/6/2024 - 11:00 am | View Link
  • Fannie and Freddie will back homes costing nearly $1 million as prices surge
    Fannie Mae and Freddie Mac, the mortgage guarantors linked ... the most expensive homes financed by those mortgages will cost nearly $1 million. It’s another milestone in a market that already ...
    11/26/2024 - 5:17 am | View Link
  • More

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More News