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Freddie Mac
The US is planning to sue more than a dozen major banks for misrepresenting the quality of mortgages they sold during the housing bubble, the New York Times reports.
Freddie Mac has reported a Q3 loss of $4.1bn, built largely on bad home loans and dividend payments to the Treasury.
Pimco’s Bill Gross says there will be no housing-led recovery in the US without Government support.
Other Freddie Mac articles
Tim Geithner, US Treasury Secretary, has revealed the Government will continue to guarantee mortgages to minimize the risk of housing-led recessions in future.
Mortgage giant Freddie Mac has asked for $1.8bn in assistance from the US Government after it suffered its fourth consecutive quarterly loss on continued bad home loans.
Freddie Mac's chief financial officer has been found dead, according to police reports.
Old Mutual CEO Jim Sutcliffe has resigned and will be replaced by Skandia chief executive Julian Roberts as news emerges of a $135m write-down for the group's US business.
Sir James Crosby should “study” the US Government’s rescue plan for Fannie Mae and Freddie Mac to see how it may be applied in the UK, the Association of Mortgage Intermediaries (AMI) says.
The US Government staged the world's largest financial bail-out last night, nationalising stricken mortgage companies Fannie Mae and Freddie Mac.
The US Government and Federal Reserve last night announced measures to shore up ailing lenders Fannie Mae and Freddie Mac.
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