Freddie Mac to Restructure Unit
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Government-sponsored lender Freddie Mac said Monday that it will restructure some of its mortgage securities operations, primarily by ceasing the market-making activities of its Securities
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Fannie Mae and Freddie Mac have long been synonymous with home ownership. Now those names are also disconcertingly associated with corporate wrongdoing.
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Freddie Mac, the second biggest provider of financing for US residential mortgages, said ``significant&#39;&#39; revisions are still required before it can resume quarterly reports of its earnings.
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The apparel company said it would reorganize into two units and name Andrew Warren as its chief financial officer.
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.
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The former chief executive of Freddie Mac, Leland C. Brendsel, may recover more than $50 million in compensation that the company&#39;s regulator froze during an investigation into a $5 billion profit restatement, a federal judge has ruled.
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Home mortgage firm Freddie Mac on Friday said it began paying previously owed compensation to its former chairman and chief executive Leland C. Brendsel after a federal court lifted a government freeze order on the funds during a pending accounting
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Freddie Mac (FRE.N: Quote, Profile, Research) , the No. 2 US mortgage finance company, on Monday said it will shutter its broker-dealer business unit in a step
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Freddie Mac will shut down the market-making operations of its securities sales and trading unit as it restructures some mortgage-securities operations, the government-sponsored home-mortgage company said Monday.
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A federal regulator yesterday adjusted restraints on Fannie Mae and Freddie Mac, saying the changes will allow the government-sponsored mortgage-funding companies to buy more subprime loans and help borrowers avoid foreclosure.
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but now it may need a complete remodeling. Formally known as the Federal National Mortgage Association, the federally chartered company
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Fannie Mae and Freddie Mac will raise by 7.8 percent the limit on the size of single-family-home mortgages they will purchase, increasing the pool of home buyers who will qualify for lower-cost financing.
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Company has revised its financial forecasts for the current quarter.
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Halliburton Co. HAL.N said on  Thursday it would restructure its KBR unit and may shed the  business if the company's stock performance continues to lag  behind peers.
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YESTERDAY Close $60.07 Change -$3.18 52-WEEK High $71.92 Low $54.97 Freddie Mac, the nation's number two buyer and backer of home mortgages, set aside more than $300 million in the second quarter to account for bad loans, contributing to a 45 percent drop in profit.
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Halliburton Co. said Thursday it is restructuring its troubled engineering and construction subsidiary, and would consider selling or spinning it off should the division&#39;s stock performance fail to improve once costly asbestos litigation is resolved.
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Deutsche Bank announced plans to reshuffle its management in order to meet its profit target for next year.