News

Fannie Mae and Bank of America's Bad Romance; Mortgage Meltdown Killed Relationship

Like scorned lovers, Bank of America (NYSE:BAC) and Fannie Mae, the government-controlled mortgage giant, are having a very public falling out.

Principal reduction isn't ideal fix for foreclosures, official says

The regulator over Fannie Mae and Freddie Mac pushed back against mounting pressure that the mortgage finance giants start reducing the principal owed on troubled loans, insisting the practice could hurt taxpayers and that alternatives were better at avoiding foreclosures.

Fannie Mae ask for $4.57 billion

Mortgage giant Fannie Mae today reported loss in the fourth quarter. Fannie is asing the fedral government for aout $4.57 billion aid