Freddie Mac receives additional $6.1 billion from government to help offset its liabilities

September 25th, 2009 Freddie Mac CFO to receive $5.5M pay packageWASHINGTON — Freddie Mac's new chief financial officer, lured from the banking industry this month, is receiving a pay package worth up to $5.5 million. The government-controlled mortgage finance company tapped Ross Kari for the position on Sept.

September 22nd, 2009 Freddie Mac names Ross Kari as new CFOMcLEAN, Va. — Freddie Mac said Tuesday it has named a new chief financial officer, filling a post that has been occupied on an interim basis for a year.

September 3rd, 2009 WCI Communities comes out of Chapter 11BONITA SPRINGS, Fla. — Homebuilder WCI Communities Inc.

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 8th, 2009 Freddie Mac's loss narrows, eschews federal 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 on Friday posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

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.

August 6th, 2009 FHFA names interim replacement for LockhartWASHINGTON — The federal agency that regulates Fannie Mae and Freddie Mac named Thursday an interim replacement for its director, who is stepping down at the end of the month. Edward DeMarco, chief operating officer of the Federal Housing Finance Agency is being picked as acting director, replacing James Lockhart, who confirmed his resignation.

July 21st, 2009 Freddie Mac names new top executiveWASHINGTON — Charles "Ed" Haldeman Jr., a former mutual fund executive, will take the helm of Freddie Mac next month, the mortgage finance company said Tuesday. Three weeks ago, Haldeman, 60, stepped down as chairman of Boston-based Putnam Investments' mutual fund unit.

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.

May 14th, 2009 Rates on 30-year mortgages up slightlyWASHINGTON — Rates on 30-year fixed mortgages rose slightly for the second straight week, but still remained below 5 percent, Freddie Mac said Thursday. The average rate for a 30-year fixed mortgage was 4.86 percent, up from 4.84 percent last week.

May 8th, 2009 Fannie Mae seeks $19B in US aid after 1Q lossWASHINGTON — Fannie Mae issued a grave warning about its future on Friday, saying it needs $19 billion in additional government aid as job losses grow and risky loans made during the housing boom go bad at an unnerving pace. The mortgage finance company, which already got a $15 billion government bailout in March, warned it may need even more money and won't be profitable for the foreseeable future.

April 30th, 2009 Regulators didn't challenge Freddie's accountingWASHINGTON — An outside investigator early last year told regulators that Freddie Mac failed to properly document interest rate bets, but the government didn't challenge the mortgage finance company's accounting practices. The Federal Housing Finance Agency confirmed that it did not request a change in accounting practices after receiving the report from investigator Kroll Inc.

April 30th, 2009 Rates on 30-year mortgages tie record lowWASHINGTON — Rates on 30-year mortgages tied a record low this week, spurring refinancing activity as the troubled housing market moves closer to possibly hitting the bottom, Freddie Mac said Thursday. Average rates on 30-year fixed mortgages, the most popular loan among home buyers, slid to 4.78 percent from 4.8 percent last week, Freddie Mac said.

April 24th, 2009 Former Freddie Mac CEO returning as consultantWASHINGTON — Mortgage finance company Freddie Mac, coping with the apparent suicide of its acting chief financial officer, said Friday that its former chief executive is coming back temporarily to help oversee the company's finances. David Moffett, the former government-appointed CEO who resigned from Freddie Mac in March, will return as a consultant to the company's interim CEO John Koskinen, aiding him with producing financial statements.

March 2nd, 2009 NEW YORK - US insurance company American International Group (AIG) will receive an additional $30 billion in federal assistance as part of the latest revamp of its bailout by the US government, the Wall Street Journal reported Sunday. The new funding is intended to support AIG as it absorbs $60 billion in quarterly losses and operational and competitive upheaval.