The takeover of the mortgage companies by the Federal Housing Finance Agency, “while beneficial to the economic welfare of the nation, destroyed the value of Fannie Mae’s and Freddie Mac’s common and preferred stock and trampled the private ownership rights” of shareholders, according to the complaint filed yesterday in the U.S. Court of Federal Claims in Washington.

Tagged with: Fannie Mae Federal Housing Finance Agency Freddie Mac

The Obama administration is considering government guarantees for home loans modified by their servicers, seeking to stem the record surge of foreclosures that’s hammering U.S. property values. The proposal, which may also have the taxpayer share in the cost of ...

Tagged with: Barack Obama borrowers Comptroller of the Currency John Dugan Federal Housing Finance Agency foreclosure mortgage payments regulates