Freddie Mac

Fannie and Fred finally Delisting from the New York Stock Exchange

Fannie and Fred finally Delisting from the New York Stock Exchange

Freddie Mac and Fannie Mae, who are the giants in the mortgage financing, have been ordered by their federal watchdog to delist from the New York Stock Exchange. Although this is likely to change the attitude of the investors it is not likely to change the perception of the government that they are private companies. Fannie's stock off late has been less than the average 1 required by the New York Stock Exchange, according to the rationale provided for the directive passed by the Federal Housing Finance Agency.

Mortgage rates are near all-time low

Mortgage rates are near all-time low

Freddie Mac reported that 30 year fixed rate mortgages dropped to an all time low for the year which was in close proximity to their overall all time low. The demand for home loans is still under the weather, even after the U. S. government finished its programs which were expected to give more credit to those who want to buy homes and helping the economy.

Senate Reject Republican amendment

Senate Reject Republican amendment

The U. S. Senate has rejected a deadline which the Republicans asked for to stop aid for Freddie Mac and Fannie Mae.

The Senate said the companies must be studied and then must find ways to reduce the cost to tax payers and to reudece the burden on governments.

The Senate voted against the Republicans 43 for the 56 against the bill.

"Don't tear down what you have unless you know what you're going to replace it with," Senate Banking Committee Chairman Chris Dodd said calling the idea "the height of irresponsibility."

Freddie Mac sees $8 million loss.

Freddie Mac sees $8 million loss.

U. S. mortgage fund owner Freddie Mac said they had lost $8 million in their first quarter and have asked the government for $10.6 billion in benefits to help maintain the working of the company. Freddie Mac has asked for constant backing by the government to help get through the financial crisis. This is the highest loss the industry has faced in almost 8 decades.

The government came to the conclusion that Freddie Mac was not in the situation to handle the financial crisis and has offered the industry unlimited financial support.