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Freddie, Fannie Woes Continue

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MissMoneypenny
MissMoneypenny Posts: 5,324 Forumite
in Debate House Prices & the Economy
"July 11, 2008 · Fannie Mae and Freddie Mac stock values are down again Friday. Investors are worried that the two home mortgage giants may collapse from the burden of homeowners defaulting on their mortgages. Already, the two companies have posted $11 billion in losses."

http://www.npr.org/templates/story/story.php?storyId=92470073
RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.


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Comments

  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    The girls won't like the fannie woes.
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • phil_b_2
    phil_b_2 Posts: 995 Forumite
    $11 billion losses... yea that'll do it.
  • m00m00
    m00m00 Posts: 1,755 Forumite
    but the credit crunch, it's just a temporary blip

    it will be all over by christmas


    2007


    said the bulls
    It's a health benefit ...
  • Rabiddog_2
    Rabiddog_2 Posts: 418 Forumite
    How do these two comps. compare to equiv UK.... BS?
    tribuo veneratio ut alius quod they mos veneratio vos
  • jd87
    jd87 Posts: 2,345 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Rabiddog wrote: »
    How do these two comps. compare to equiv UK.... BS?

    There isn't really any UK equivalent. You can't even say that the nationalised Northern Rock is the equivalent, because Freddie Mac and Fannie Mae are owned by shareholders, not the US government.
  • posh*spice
    posh*spice Posts: 1,398 Forumite
    [FONT=&quot]http://news.bbc.co.uk/1/hi/business/7503109.stm

    Bye bye Indymac:eek:
    [/FONT]
    Turn your face to the sun and the shadows fall behind you.
  • amcluesent
    amcluesent Posts: 9,425 Forumite
    >Bye bye Indymac<

    Apparently deposits over $100K aren't covered by insurance, that's $1B gone AWOL.

    Bullion in the safe is looking like a very good option!
  • Treadmill
    Treadmill Posts: 1,102 Forumite
    "the Office of Thrift Supervision"

    The Americans have much better names for government departments than we do.
  • linniestorm
    linniestorm Posts: 347 Forumite
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Treadmill wrote: »
    "the Office of Thrift Supervision"

    The Americans have much better names for government departments than we do.

    Ha ha, yeah I thought that! Is it me or doesn't that sound just like it should be a Department in the Ministry of Magic? Eat your heart out JK Rowling!
    1st LBM (Pre-Career Change): 01 March 2006 Debt Free Date: 28 April 2008 | Worst Debt: £7244.36

    2nd LBM: 10 December 2019 Current Debt £25,322 [April 2020] | Worst Debt: £27,444
  • roddydogs
    roddydogs Posts: 7,479 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I thought they were joking when they read out the names-dont know how the newsreaders kept a straight face.Freddie Mac and Fannie Mae, u got to be kidding, their Banks?
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