Fannie Mae

Fannie Mae Charged Taxpayers $250,000 for a Chandelier

Inspector general highlights $32 million in cost overruns at new headquarters

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.

Hillary Clinton’s Fannie and Freddie Problem

Democratic presidential candidate endorsed risky mortgage lending that led to financial crisis

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.

Obama Touts More Risky Home Loans

New policy is bad news for taxpayers, lawmakers and experts say

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.

Mel Watt: Fannie and Freddie to Remain Under Federal Control

Government conservatorship of mortgage giants likely to continue, even as lawmakers call for change

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.

Feds to Back Risky Home Loans Again

Critics warn that Fannie and Freddie are setting up housing market for repeat of 2008 crisis

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.

Controlling Costs

Report recommends ways to control spending at Fannie, Freddie

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.

House Collapse

Federal Housing Administration deep in the red

The Federal Housing Administration (FHA) today released the results of an independent audit showing that it is in dire financial shape.

The Fannie and Freddie Fee Machine

Federal government now collecting Fannie and Freddie profits

In order to wind down mortgage-backing giants Fannie Mae and Freddie Mac, the government is now collecting all profits generated by the companies—a move some think may backfire by providing the federal government a new source of revenue that Congress will be hard-pressed to let go.