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NEWS
September 30, 1997
Due to an editing error, an article in Sunday's Maryland section incorrectly reported that Fannie Mae, the Federal National Mortgage Association, sponsored a homeowners fair Saturday. In fact, the event was sponsored by the Fannie Mae Foundation, a private, nonprofit organization.The Sun regrets the error.Pub Date: 9/30/97
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BUSINESS
By Randi F. Marshall and Randi F. Marshall,NEWSDAY | October 3, 2004
Homebuyers and sellers didn't need another worry, on top of the future of interest rates and the potential for a housing market slowdown. But the news that Fannie Mae - the nation's largest buyer of home loans - was being accused of accounting misdeeds gave some consumers something else to fret about. Will bankers become leery of making new loans? Will interest rates spike? Not likely, say mortgage bankers and other experts. Very little from Fannie Mae's troubles will trickle down to buyers or sellers - and anything that does shouldn't affect their housing plans.
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NEWS
By Karen Masterson and Karen Masterson,SUN STAFF | September 28, 1997
Due to an editing error, an article in Sunday's Maryland section incorrectly reported that Fannie Mae, the Federal National Mortgage Association, sponsored a homeowners fair Saturday. In fact, the event was sponsored by the Fannie Mae Foundation, a private, nonprofit organization.The Sun regrets the error.The Baltimore Convention Center was packed with would-be homeowners yesterday for a fair geared to minority and low- and middle-income buyers.Seventy area real estate agents, credit and mortgage agencies, nonprofit housing-development groups and offices of the Department of Housing and Community Development set up booths and dispensed advice.
NEWS
September 30, 1997
Due to an editing error, an article in Sunday's Maryland section incorrectly reported that Fannie Mae, the Federal National Mortgage Association, sponsored a homeowners fair Saturday. In fact, the event was sponsored by the Fannie Mae Foundation, a private, nonprofit organization.The Sun regrets the error.Pub Date: 9/30/97
BUSINESS
By David I. Turner and David I. Turner,Knight-Ridder News Service | May 17, 1992
Some first-time homebuyers who cannot qualify for a regular mortgage may be able to get a loan through a program run by the Federal National Mortgage Association (Fannie Mae).The Community Home Buyer's Program was designed to help low- and moderate-income buyers, according to Geoffrey Smith, director of low- and moderate-income housing for Fannie Mae's Northeast Regional Office, in Philadelphia. He said that typically about two-thirds of the borrowers in such Fannie Mae programs are first-time buyers.
BUSINESS
July 14, 1996
MGIC, Fannie Mae agree to a 'first'Mortgage Guaranty Insurance Corp. (MGIC), the nation's BTC leading provider of private mortgage insurance, and the Federal National Mortgage Association (Fannie Mae), the nation's largest source of home mortgage funds, announced last week that MGIC's contract underwriting affiliate will offer mortgage lenders access to Fannie Mae's Desktop Underwriter computer program.Under the agreement, the first of its kind nationwide, mortgage applications approved by MGIC's contract underwriting affiliate using Desktop Underwriter will have Fannie Mae's approval for purchase or securitization.
BUSINESS
By Thomas Easton and Thomas Easton,Sun Staff Correspondent | September 12, 1991
WASHINGTON -- A Senate panel on securities opened hearings yesterday on the Salomon Brothers treasury bond scandal, hoping to hear about the inner workings of the primary market for the government's $2.3 trillion debt.But out of the 39 participants in the market, only Warren Buffett, the newly installed chief executive of Salomon, showed up.The rest, it emerged in response to irate inquiries by senators, had been subpoenaed by the Securities and Exchange Commission or had forsworn attendance on the advice of legal counsel.
BUSINESS
November 12, 1995
Fannie Mae offers reverse mortgagesMillions of older Americans may be eligible to turn the value of their homes into cash without having to move out under a new program by the nation's largest source of home mortgage funds.The Federal National Mortgage Association, known as Fannie Mae, said last week that it would begin offering "reverse mortgages," which enable senior citizen homeowners to convert the equity in the homes into income.The reverse mortgage is an adjustable-rate loan that allows seniors to borrow against the value of their home.
BUSINESS
October 1, 1995
PHH subsidiary is large seller of loansA subsidiary of PHH Corp. of Hunt Valley was one of the biggest sellers of loans to Freddie Mac and Fannie Mae in 1994, according to Home Mortgage Disclosure Act data. PHH Mortgage Banking Services sold some $1.7 billion in loans to Freddie Mac, and it sold $1.2 billion in loans to Fannie Mae.This made it the sixth-largest seller to Freddie Mac and the 15th-largest to Fannie Mae, according to an analysis by Geosegment Systems Corp., reported by the newsletter Inside Mortgage Finance.
BUSINESS
November 20, 1993
Fannie Mae eases refinancingThe nation's largest investor in home mortgages has lowered the amount of equity that many homeowners must have to refinance their residential loans.The Federal National Mortgage Association (Fannie Mae) said yesterday that it will permit refinancing on homes in which owners have as little as 5 percent equity. Previously, refinancing required at least 10 percent equity.Univax Biologics issues stockUnivax Biologics Inc. of Rockville said yesterday that it completed a private placement of about $10 million through the sale of 1.3 million common shares at $8.25 per share to a group of institutional investors.
NEWS
By Karen Masterson and Karen Masterson,SUN STAFF | September 28, 1997
Due to an editing error, an article in Sunday's Maryland section incorrectly reported that Fannie Mae, the Federal National Mortgage Association, sponsored a homeowners fair Saturday. In fact, the event was sponsored by the Fannie Mae Foundation, a private, nonprofit organization.The Sun regrets the error.The Baltimore Convention Center was packed with would-be homeowners yesterday for a fair geared to minority and low- and middle-income buyers.Seventy area real estate agents, credit and mortgage agencies, nonprofit housing-development groups and offices of the Department of Housing and Community Development set up booths and dispensed advice.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | May 5, 1997
WHEN THE reverse mortgage was designed, everyone agreed -- industry, government and consumer groups -- to be especially careful.These loans are aimed at a potentially vulnerable group: the elderly with small incomes but substantial cash locked up in their homes. No one wanted slick salespeople moving in, pocketing some of that cash themselves. So they surrounded these loans with consumer protections.For example, before taking a reverse mortgage you have to go through counseling to have all your options explained.
BUSINESS
By MICHAEL GISRIEL | September 22, 1996
Dear Mr. Gisriel:Where can people go for a mortgage if they have declared bankruptcy?J. QuinnBaltimoreDear Ms. Quinn:Generally speaking, a bankruptcy filing has in the past ruined a person's credit rating for at least seven years. But today, according to Tom Champion, residential loan officer for Ryland Mortgage, there are mortgage loan programs available to people as soon as two years after filing bankruptcy.The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp.
BUSINESS
July 14, 1996
MGIC, Fannie Mae agree to a 'first'Mortgage Guaranty Insurance Corp. (MGIC), the nation's BTC leading provider of private mortgage insurance, and the Federal National Mortgage Association (Fannie Mae), the nation's largest source of home mortgage funds, announced last week that MGIC's contract underwriting affiliate will offer mortgage lenders access to Fannie Mae's Desktop Underwriter computer program.Under the agreement, the first of its kind nationwide, mortgage applications approved by MGIC's contract underwriting affiliate using Desktop Underwriter will have Fannie Mae's approval for purchase or securitization.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | May 30, 1996
WASHINGTON -- A report to Congress raised questions yesterday about whether the government should continue to provide financial benefits to two private companies established by the government to make mortgages more readily available to low- and middle-income homebuyers.The report by the Congressional Budget Office is certain to intensify a long-running debate over whether the companies, known as Fannie Mae and Freddie Mac, should retain an implicit government guarantee of the debt securities they issue in purchasing home mortgages from lenders and selling them to investors.
NEWS
By Michael James and Michael James,SUN STAFF Sun staff writers Gary Gately, Lisa Respers, Frank D. Roylance, Diana K. Sugg, Dail Willis, and John B. O'Donnell contributed to this article | January 3, 1996
As the federal government shutdown goes into its 19th day, tens of thousands of workers in Maryland are feeling its effects, prompting employers across the state to offer emergency relief ranging from stress management counseling to loans for food, diapers and baby formula.Among those offering aid is the Federal National Mortgage Association, Fannie Mae, which announced yesterday that it will try to improvise payment plans for federal workers who can't make their mortgage payments due to the shutdown.
BUSINESS
December 5, 1993
Q: Where can people go for a mortgage if they have declared bankruptcy?A: Generally speaking, a bankruptcy filing has in the past ruined a person's credit rating for at least seven years. But today, according to Tom Champion, residential loan officer for Crestar Mortgage Corp., there are mortgage loan programs available to people as soon as two years after filing bankruptcy.The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) guidelines for conventional loans say that, in case of bankruptcies, the bankruptcy discharge must be at least two years old and the borrower must have re-established and maintained good credit since then.
BUSINESS
By Michael Gisriel | August 27, 1995
Q: Where can people go for a mortgage if they have declared bankruptcy?B. Arnold, FallstonA: Generally speaking, a bankruptcy filing has in the past ruined a person's credit rating for at least seven years.But today, according to Tom Champion, residential loan officer for Beach Federal Mortgage, there are mortgage loan programs available to people as soon as two years after filing for bankruptcy.The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)
BUSINESS
November 12, 1995
Fannie Mae offers reverse mortgagesMillions of older Americans may be eligible to turn the value of their homes into cash without having to move out under a new program by the nation's largest source of home mortgage funds.The Federal National Mortgage Association, known as Fannie Mae, said last week that it would begin offering "reverse mortgages," which enable senior citizen homeowners to convert the equity in the homes into income.The reverse mortgage is an adjustable-rate loan that allows seniors to borrow against the value of their home.
BUSINESS
October 1, 1995
PHH subsidiary is large seller of loansA subsidiary of PHH Corp. of Hunt Valley was one of the biggest sellers of loans to Freddie Mac and Fannie Mae in 1994, according to Home Mortgage Disclosure Act data. PHH Mortgage Banking Services sold some $1.7 billion in loans to Freddie Mac, and it sold $1.2 billion in loans to Fannie Mae.This made it the sixth-largest seller to Freddie Mac and the 15th-largest to Fannie Mae, according to an analysis by Geosegment Systems Corp., reported by the newsletter Inside Mortgage Finance.
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