The Justice Department says Countrywide Financial — which B of A bought in 2008 — cranked out bad home loans without proper checks to make sure they were legit, and then sold those mortgages to Fannie Mae and Freddie Mac.
There's word this morning that the Treasury Department is going to revamp its financial relationship with the mortgage giants Fannie Mae and Freddie Mac.
Rising home prices contribute to profits for the bailed-out mortgage lenders. Higher home prices should help the real estate market and homebuyers, too.
Federal regulators at the Securities and Exchange Commission just this morning charged several former executives at mortgage giants Fannie Mae and Freddie Mac with civil fraud
The House Financial Services Committee voted to stop the multimillion dollar bonuses Fannie and Freddie executive have been getting. And the STOCK Act is introduced in the Senate.
Two hearings on Capitol Hill are looking into Fannie Mae and government-backed mortgage loans. The House Financial Services Committee voted to rein in some of the million-dollar salaries for Fannie Mae executives.