Update 2: Freddie Mac Announces Changes in Division
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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&#39;s internal controls after an accounting scandal.
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Freddie Mac (FRE.N: Quote, Profile, Research) is looking at new ways to hedge against more risky mortgages it will purchase to meet higher federal affordable housing goals, the company&#39;s chief executive Richard Syron said on
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The following financial services industry appointments and moves were reported on Monday. To inform us of other job changes, please email moves@reuters.
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Bank of America Corp. moved a second major division away from Boston yesterday despite its repeated pledges to keep key business units headquartered here after it acquired New England's largest bank.
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MCLEAN, Va. -- Mortgage rates have eased with help from last week&#39;s disappointing government numbers on new jobs. The mortgage company Freddie Mac reports that 30-year fixed-rate mortgages now average 5.74 percent, down from 5.82 in last week&#39;s survey.
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The discount retailer's forced to reorganize its flagging apparel business.
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NEW YORK - Mortgage financier Freddie Mac said yesterday it settled a dispute with bankrupt loan servicer American Home Mortgage Corp., clearing the way to pay $2.4 million in delayed property taxes on behalf of thousands of homeowners.
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Memo outlines converting four divisions into two, as company refocuses.
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Chairman and CEO Raines and CFO Howard depart Fannie Mae, with interim successors named. We view this as a positive for Fannie Mae, and see an improved relationship with regulator Office of Federal Housing
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Description: Fannie Mae&#39;s Franklin Raines retires as CEO, and Timothy Howard resigns as CFO of the mortgage giant. This comes a few weeks after the Securities and Exchange Commission told Fannie Mae to restate
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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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Freddie Mac  is set to propose  to its management and regulators that it be allowed to create  and sell bonds backed by multifamily mortgages, a move that  would help it expand into apartment financing, The Wall Street  Journal reported on Monday.
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By Tom Ramstack, The Washington Times  Feb. 8--David Edgerley is taking over the state's business and economic  development department at a time of transition for Maryland's real estate  industry.
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New government-set goals for mortgage giants Fannie Mae and Freddie Mac to make home ownership affordable have been eased slightly from the targets proposed earlier this year, the Housing and Urban Development Department said Monday.
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Mortgage rates reversed a two-week climb this week, according to Freddie Mac&#39;s weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.74 percent for the week ended today
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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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Freddie Mac, the No. 2 U.S. mortgage finance company, on Thursday reported an unexpected net loss of $211 million for the first quarter, citing a souring outlook for mortgage credit risk that widened credit spreads.