helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans.
Additionally, Fannie Mae
was responsible for nine REO assets totalling $56.8 million from its non-securitized portfolio.
"By selling three properties Fannie Mae
owns in the District of Columbia, the company will be able to dispose of assets in a seller's market," Fannie Mae
* La Ventana Apartments, Dallas, TX -- This 87-unit multifamily property received $2,500,000 funded under the Fannie Mae
DUS Small Loan product line.
The deal that prompted the investigation was a $412 million payment from Fannie Mae
to Bank of America in August 2011 to transfer the servicing rights to more than 300,000 of these loans over to specialty companies it calls "high touch servicers."
s financial performance indicates that as much as we would like the excesses of the last decade to be behind us, the clean-up period is going to extend for at least the next several years," he said.
"We're excited VRM now provides the direct connection into the Fannie Mae
system and VRM system users may electronically submit appraisals without incurring additional cost, integrating with other systems or requiring extra effort."
Two years later, in 1970, the US government created Freddie Mac, an exact duplicate of Fannie Mae
. The reason behind a second institution was that high economic growth of the 1960s had led to rising incomes and the resulting widespread homeownership made just one government sponsored mortgage institution, namely Fannie Mae
, unappealingly, if not scarily, large.
And now that the government has shown that it will indeed step in to support Fannie Mae
and Freddie Mac, the supposed public benefit also needs to be examined.
In a suit filed against Fannie on December 18 to recover $115 million in compensation, the Office of Federal Housing Enterprise Oversight (OFHEO) said former Fannie Mae
CEO Franklin D.
Eligible borrowers can obtain an EEM backed by Fannie Mae
with only a three percent contribution, which can be funded by the borrower and through other sources such as grants or gifts.
OFHEO had set its sights on Fannie Mae
after sibling Freddie Mac made headlines in 2003 for engaging in creative accounting practices.