Fanny & Freddy

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U.S. Home Foreclosures Climb 44% to Record in May

By Dan Levy

June 10 (Bloomberg) -- U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.

Bank repossessions climbed 44 percent from May 2009 to 93,777, the Irvine, California-based data company said today in a statement. Foreclosure filings, including default and auction notices, rose about 1 percent to 322,920. One out of every 400 U.S. households received a filing.

“We’re nowhere near out of the woods,” Rick Sharga, RealtyTrac’s senior vice president for marketing, said in a telephone interview. “We’re likely to set a quarterly record for home seizures if June is anything like May.”

Lenders are completing the “inevitable progression” of taking properties from homeowners who stopped paying, Sharga said. He predicted last month that another 5 million delinquent mortgages will end in foreclosure in addition to properties that had already been repossessed.

Almost 3.1 million properties have been seized by banks since April 2005, Daren Blomquist, RealtyTrac’s marketing communications manager, said in an interview today.

“The second quarter won’t be the peak,” Sharga said. “I’m not even sure 2010 will be.”

The previous record for seizures was 92,432 in April. Last month was the first in which every state had an increase in repossessions from a year earlier, according to RealtyTrac.


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Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

By Lorraine Woellert and John Gittelsohn

June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts.

“It is the mother of all bailouts,” said Edward Pinto, a former chief credit officer at Fannie Mae, who is now a consultant to the mortgage-finance industry.

Fannie, based in Washington, and Freddie in McLean, Virginia, own or guarantee 53 percent of the nation’s $10.7 trillion in residential mortgages, according to a June 10 Federal Reserve report. Millions of bad loans issued during the housing bubble remain on their books, and delinquencies continue to rise. How deep in the hole Fannie and Freddie go depends on unemployment, interest rates and other drivers of home prices, according to the companies and economists who study them.

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Op woensdag 11 maart 2009 23:49 schreef digitaLL het volgende:
De verwachting is dan ook dat strax meer dan 80% van de hypotheken feitelijk door de overheid verstrekt dan wel gegarandeerd worden.
Om het centraal te houden plaats ik hier de berichten over Fanny en Freddy.
Ik verwacht dat er uiteindelijk meer dan $1000 miljard ingepompd gaat worden.

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Fannie Mae, Freddie Mac to delist shares from NYSE
Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist shares

NEW YORK (AP) -- Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist their shares from the New York Stock Exchange.

The companies' regulator, the Federal Housing Finance Agency, said Wednesday that it expects Fannie Mae and Freddie Mac shares to trade on the Over-the-Counter Bulletin Board, an electronic quotation service.

The move to delist the shares isn't a surprise. The crash in the housing market has pounded Fannie Mae and Freddie Mac with heavy loan losses since 2007. Fannie shares have been below the $1 average price level for 30 trading days. NYSE rules require a company to take action to boost its shares or delist.

The government took over the pair in September 2008 under the authority of a law passed by Congress. So far, taxpayers have poured $145 billion into Fannie and Freddie to keep them afloat and to buoy the overall housing market.

Fannie Mae, Freddie Mac, the FHA and the Veterans Administration backed nearly 97 percent of home mortgages in the first quarter of this year, according to trade publication Inside Mortgage Finance.

Fannie and Freddie were created by Congress to buy mortgages from lenders and package them into bonds that are resold to investors. Together they own or guarantee almost 31 million home loans worth about $5.5 trillion. That's about half of all mortgages.

During the housing boom, the two loosened their lending standards for borrowers and are reeling from the housing bubble bust.

Fannie Mae shares closed Tuesday at 92 cents, while Freddie Mac shares closed at $1.22.

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Kredietwaardigheid hypotheekbanken VS lager

Laatste update: 8 augustus 2011 17:09 info
NEW YORK - Kredietbeoordelaar S&P heeft de kredietwaardigheid van de grote Amerikaanse hypotheekbanken Fannie Mae en Freddie Mac maandag verlaagd.

De afwaardering was een gevolg van de verlaging van de Amerikaanse kredietwaardigheid die S&P dit weekend bekend heeft gemaakt.

Fannie en Freddie, zoals de banken in de volksmond worden genoemd, verloren net als de overheid hun AAA-rating.

''De verlagingen reflecteren hun directe afhankelijkheid van de Amerikaanse overheid'', aldus S&P.