Fannie Mae is charging taxpayers millions for upgrades to its new headquarters, including $250,000 for a chandelier.
The inspector general for the Federal Housing Finance Agency (FHFA), which acts as a conservator for the mortgage lender, recently noted $32 million in questionable costs in an audit for Fannie Mae’s new headquarters in downtown Washington, D.C.
The Senate voted this week to suspend massive pay raises that the CEOS of Fannie Mae and Freddie Mac received in July.
Hillary Clinton’s previous support for lower mortgage lending standards—a significant contributor to the 2008 financial crisis—could come back to haunt her in the upcoming presidential race, the Washington Times reports.
President Barack Obama announced a new measure on Thursday to make mortgages more affordable for low-income homebuyers, a policy that could heighten risk in a still struggling housing market.
Federal Housing Finance Agency (FHFA) Director Mel Watt said on Wednesday that he did not see the government relinquishing control of housing giants Fannie Mae and Freddie Mac anytime soon, even as the Democratic chairman of a Senate committee urged him to pursue that course.
Critics warn that government agencies are making the same mistakes that led to the economic downturn of 2008.
Federal agencies have made a series of recent moves that could precipitate another housing crisis similar to the one in 2008, experts say, again threatening the stability of the entire U.S. economy.
A recent survey by OnMessage Inc. for the American Action Forum found 52 percent of voters view Fannie Mae and Freddie Mac unfavorably.
A group of investors led by hedge fund Perry Capital LLC sued the U.S. Treasury in federal court on Sunday to challenge the 2012 changes of the bailout terms set for government-owned mortgage firms Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency (FHFA) needs to control employee compensation more directly at Fannie Mae and Freddie Mac in order to contain costs at the two housing finance institutions, according to a report by FHFA’s inspector general.