AFP - Fannie Mae and Freddie Mac stocks wobbled Monday after a near-meltdown last week, as the market mulled a weekend plan offering a lifeline for the mortgage finance firms from the US Federal Reserve and Treasury.
AP - The Federal Reserve has adopted rules to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs.
Reuters - A major U.S. government plan to shore
up mortgage finance firms Fannie Mae and Freddie Mac
will not revive the ailing U.S. housing market yet,
wrote Goldman Sachs economists in a research note dated Sunday. -- read full article
Reuters - The Democratic leader of the House
of Representatives on Monday said he does not expect housing
finance giants Fannie Mae and Freddie Mac will need to draw on
additional liquidity or capital from the Treasury Department or
the Federal Reserve. -- read full article
AP - Scrambling to bolster eroding investor confidence, the Federal Reserve and the Treasury Department announced unprecedented steps to brace slumping mortgage giants Fannie Mae and Freddie Mac.
Reuters - Shares of mortgage finance firms
Fannie Mae and Freddie Mac could not hold the gains they made
early on Monday as questions remained over what the U.S.
government's sweeping rescue plan means for shareholders.
AP - Freddie Mac attracted more bidders Monday for a highly anticipated auction of $3 billion in short-term securities than it had nearly all year, a day after the federal government provided support for the mortgage giant. -- read full article
AP - Spanish banking giant Banco Santander said Monday it has agreed to buy the British mortgage lender Alliance & Leicester PLC in a deal valued at $2.5 billion. -- read full article
Reuters - The Federal Reserve Board on Monday
approved new rules to ban misleading and deceptive practices in
mortgage lending, including prepayment penalties for many
subprime loans.
AFP - The dollar was slightly stronger but coming off gains made early Monday after Washington moved to bolster US mortgage giants Fannie Mae and Freddie Mac, dealers said.
Reuters - Shares of National City Corp
and Washington Mutual plummeted more than 25 percent
each, leading financial stocks lower on Monday amid fears about
bank stability and the future of the mortgage market.
Reuters - Republican presidential candidate John
McCain said on Monday he backed U.S. actions aimed at saving
mortgage finance giants Freddie Mac and Fannie Mae from
financial collapse. -- read full article
Reuters - Stocks tumbled on Monday as concerns
about the credit crisis and financial companies outweighed
earlier optimism over the government's proposed rescue plan for
mortgage finance companies Fannie Mae and Freddie Mac
.
AP - Stocks declined Monday as investors worried that even a safety net set up over the weekend for mortgage financiers Fannie Mae and Freddie Mac couldn't head off further troubles in the financial markets.
Reuters - Buyers flocked to Freddie Mac's $3
billion debt sale on Monday, just hours after the U.S.
government pledged support for the nation's top mortgage
finance agencies, but the steps failed to stem growing alarm on
Wall Street.
