Fannie Mae | featured news

A federal watchdog criticized federal regulators' oversight of executive pay packages for top officials at Fannie Mae and Freddie Mac in a report published Thursday. The top six executives at the mortgage giants earned $35 million in the last two years, according to the report from the inspector general of the Federal Housing Finance Agency, which regulates the mortgage giants.

Treasury Secretary Timothy Geithner is telling Congress that the Obama administration wants Congress to approve legislation overhauling Fannie ...

The Obama administration on Friday released its long-awaited proposal for overhauling the mortgage market, calling for gradually shutting down bailed-out Fannie Mae and Freddie Mac and reducing the government's now huge role in housing finance.

House Republicans say it is time to end a costly federal bailout of Fannie Mae and Freddie Mac that has already cost taxpayers $150 billion.

The mortgage-finance company warned that foreclosure delays could lead to higher costs, as it asked the Treasury to provide a $2.5 billion infusion.

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.

That figure, projected through 2013, represents a worst-case scenario that assumes a double-dip recession, the Federal Housing Finance Agency says. The finance giants have so far received about $148 billion in taxpayer funds.

Federal Housing Finance Agency is seeking billions in repayment from banks that sold bad loans to the mortgage giants to help offset taxpayer losses, but some financial institutions are balking.

The U.S. government's role in housing finance should undergo "fundamental change," but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.

US home loan giants Fannie Mae and Freddie Mac are to cease trading on the New York Stock Exchange (NYSE).