The removal of Amherst-based Steven J. Baum PC from Fannie Mae and Freddie Mac foreclosure cases means other firms will be picking up the work. Baum’s firm handled a large portion of the state’s foreclosure cases, and experts predict more ...

Tagged with: Fannie Mae Freddie Mac Law firms

This week, Amherst, N.Y.-based foreclosure attorney Steven J. Baum announced a mass layoff of his firm’s employees. The firm, Steven J. Baum PC, filed a Worker Adjustment and Retraining notice pursuant to federal labor laws. Several reports indicated the firm ...

Tagged with: Fannie Mae foreclosure Freddie Mac layoffs

Pursuant to an October directive from the Federal Housing Finance Agency, national mortgage servicers Fannie Mae and Freddie Mac released a revised list of retained foreclosure attorneys Tuesday. Fannie Mae’s New York attorneys list includes two firms from the Rochester ...

Tagged with: Fannie Mae Freddie Mac

WASHINGTON — Congress is seeking to end the practice of paying million-dollar bonuses to executives at government-controlled mortgage giants Fannie Mae and Freddie Mac. The House Financial Services Committee approved legislation Tuesday that would suspend $12.8 million in Fannie and ...

Tagged with: Congress Fannie Mae Freddie Mac

WASHINGTON — Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter. Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. ...

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WASHINGTON, D.C. — Mortgage rates have skated near record lows for weeks. But now it can finally be said: Long-term rates in the United States have never been lower. As of Friday, the average rate on a 30-year fixed mortgage fell to 4.01 percent ...

Tagged with: Freddie Mac mortgage rates

WASHINGTON, D.C. — The Obama administration may turn thousands of government-owned foreclosures into rental properties to help boost falling home prices. The Federal Housing Finance Agency said Wednesday ...

Tagged with: Fannie Mae federal government FHA Foreclosures Freddie Mac home prices

WASHINGTON, D.C. — Standard & Poor’s Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt ...

Tagged with: Banks Fannie Mae Freddie Mac S&P

WASHINGTON — Standard & Poor’s warned mortgage giants Fannie Me and Freddie Mac on Friday that they may lose their top credit ratings if lawmakers don’t raise the U.S. government’s borrowing limit in time to avoid a default.

Tagged with: default Fannie Mae Freddie Mac S&P

WASHINGTON — Fixed mortgage rates stayed roughly flat after falling for nine weeks. The average rate on the 30-year loan ticked up from a yearly low of 4.49 percent to 4.50 percent, Freddie Mac said Thursday. The average rate on the 15-year fixed mortgage, a popular refinance option ...

Tagged with: Freddie Mac home sales mortgage rates

CHARLOTTE, N.C. — Bank of America Corp. is settling some buyback claims on bad home loans sold to Fannie Mae and Freddie Mac as it attempts to separate itself further from one of the of the housing downturn's biggest headaches.

Tagged with: Bank of America Fannie Mae Freddie Mac Housing

NEW YORK CITY — The average rate on 30-year fixed mortgages rose this week to the highest level in seven months, reflecting higher yields on long-term Treasurys.

Tagged with: Freddie Mac mortgage