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Fannie Mae and Freddie Mac Refinance Initiatives
FHFA has indicated that Fannie Mae and Freddie Mac Refinance Initiatives to assist homeowners with high current loan-to-value mortgages would be a proper exercise of their existing authorities. Fannie Mae and Freddie Mac will make available refinancing opportunities for loans they hold or have...
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Statement on the Treasury Amending the Enterprises’ Senior Preferred Stock Agreements
PageContent "We welcome Treasury Secretary Geithner’s action to increase support for Fannie Mae and Freddie Mac, which continue to play a vital role in this housing market. This increase is to provide assurance to the markets that Fannie Mae and Freddie Mac will continue to fulfill their important...
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Statement of FHFA Director James B. Lockhart on Federal Reserve Action
"The Federal Reserve Board’s announcement that it will purchase debt of the Federal Home Loan Banks, Fannie Mae and Freddie Mac as well as the mortgage-backed securities (MBS) issued by Fannie Mae, Freddie Mac and Ginnie Mae is a very positive step. This $600 billion program should be a major boost...
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Statement of FHFA Director James B. Lockhart on Foreclosure Suspension
"The foreclosure suspension announced today by Fannie Mae and Freddie Mac will help homeowners and servicers utilize the new streamlined loan modification program (SMP) announced by FHFA, Fannie Mae, Freddie Mac and HOPE Now. With this suspension, seriously delinquent borrowers may have an...
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Statement of FHFA Director James B. Lockhart at News Conference Announcing Streamlined Modification Program (SMP)
Welcome. I am pleased that you are able to be here. I would also like to welcome Brian Montgomery, HUD Assistant Secretary and FHA Commissioner; Neel Kashkari, Interim Assistant Treasury Secretary for Financial Stability; Faith Schwartz, Executive Director of HOPE NOW and Michael Heid, Wells Fargo...
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Statement of FHFA Director James B. Lockhart on Chicago FHLB and Fannie Mae Partnership Program
"I am pleased that the Federal Home Loan Bank of Chicago, partnering with Fannie Mae, will provide greater liquidity to the mortgage market through its new mortgage product, MPF Xtra. This is an excellent example of how the synergies created by merging OFHEO and FHFB into the new FHFA can help to...
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Statement of FHFA Director James B. Lockhart in Support of TARP
"As regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBanks), the Federal Housing Finance Agency (FHFA) strongly supports Treasury Secretary Paulson’s announcement of a comprehensive asset relief program to help stabilize the nation’s financial markets. We join President Bush...
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Statement on Golden Parachute Payments
Today, September 14, 2008, the Federal Housing Finance Agency notified former Fannie Mae Chief Executive Officer Daniel Mudd and former Freddie Mac Chief Executive Officer Richard Syron that "golden parachute" payments contemplated under their contracts would not be paid. The Agency, serving as...
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FHFA Statement of Support for Multifamily Housing Finance Activities of the Enterprises While in Conservatorship
FHFA has stated that business will continue as usual at the Enterprises during the conservatorship—this applies to both their single-family and multifamily businesses. FHFA recognizes the importance of all aspects of the Enterprises’ multifamily businesses—including the LIHTC (low-income housing tax...
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Statement of FHFA Regarding Contracts of Enterprises in Conservatorship
PageContent Freddie Mac Existing contracts with the Freddie Mac remain in effect. United States federal law overrides any right of Freddie Mac’s counterparties to these contracts (including any "qualified financial contracts") to exercise any right to accelerate, terminate, liquidate or net such...