AIG pulls out of National Housing Bank’s mortgage company

September 16th, 2009 FDIC names first winner in toxic asset programWASHINGTON — The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets.

September 6th, 2009 MELTDOWN FLASHBACK: Sunday, Sept. 7, 2008The U.S.

September 2nd, 2009 Industry group proposes replacing Fannie, FreddieWASHINGTON — A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government. The Mortgage Bankers Association's proposal, released Wednesday, offers a detailed plan for how to restructure the U.S.

August 7th, 2009 Freddie Mac avoids more gov't aidWASHINGTON — Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future. The government-controlled mortgage finance company posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

July 23rd, 2009 Report: Obama housing plan may fall short of goalWASHINGTON — The Obama administration's effort to persuade mortgage companies to lower payments for up to 4 million homeowners could fall short of its goal, according to congressional investigators. The Government Accountability office said Thursday the administration's projections that its loan modification plan could help 3 million to 4 million borrowers "may be overstated" because it's based on uncertain assumptions about the mortgage market and overall economic conditions.

July 15th, 2009 Obama housing nominee sworn in after delayWASHINGTON — The Obama administration's nominee for a key housing post was sworn in Wednesday, after being confirmed by the Senate last week. David Stevens, formerly president and chief operating officer of Virginia-based real estate brokerage Long & Foster, is now assistant secretary for the Department of Housing and Urban Development and head of the Federal Housing Administration.

July 9th, 2009 2 UK developers says housing market stabilizingLONDON — Two U.K. homebuilders complained about constraints on mortgage financing in Britain's battered housing market as they reported subdued sales on Thursday.

July 2nd, 2009 Appraisers want new rules rescindedWASHINGTON — A letter Wednesday to the Housing and Urban Development Department asks the agency to rescind rules regarding real estate appraisals claiming they lead to the use of under-qualified appraisers. The Appraisal Institute and three other appraisal groups argue HUD's restrictions on total appraisal fees are driving competent appraisers away from mortgage programs backed by the Federal Housing Administration and other mortgage programs.

July 1st, 2009 Freddie Mac gets another $6.1B from gov'tNEW YORK — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday. The company could also be close to naming a new, permanent CEO, according to a report in The Wall Street Journal.

July 1st, 2009 Freddie Mac receives additional $6.1B from gov'tNEW YORK — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday. The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage firm's liabilities exceeded its assets by more than $6 billion, according to the filing with the Securities and Exchange Commission.

June 12th, 2009 NJ mortgage company president guilty in $139M scamNEWARK, N.J. — The former president of a New Jersey mortgage company has pleaded guilty in a $139 million fraud scheme that bankrupted his firm.

May 5th, 2009 Treasury provides $45.5M to 7 banks from bailoutWASHINGTON — The Treasury Department said Tuesday seven more banks have been approved to participate in the government's $700 billion rescue effort, and that a Colorado mortgage company was chosen to participate in a foreclosure mitigation program. The department said the government would purchase a total of $45.5 million in preferred stock in the seven banks, bringing the total supplied through the program to $198.02 billion for more than 500 banks.

May 4th, 2009 Fed says more banks tighten home loan standardsWASHINGTON — A larger share of banks has made it more difficult for people to obtain home mortgages over the last three months even as demand has grown, the Federal Reserve reported Monday. The Fed's new quarterly survey found that about 50 percent of U.S.

April 28th, 2009 Treasury gives $121.8M to 12 banks under bailoutWASHINGTON — The Treasury Department has approved 12 more banks to participate in the $700 billion financial rescue program. The 12 institutions will receive a total of $121.8 million, Treasury said Tuesday, with about half going to Standard Bancshares Inc.

April 27th, 2009 Bank of America rebrands mortgage operationsNEW YORK — Bank of America Corp. has officially dropped the Countrywide Home Loans name as part of its integration of the mortgage lender, which was acquired last year.