U.S. mortgage market giant Freddie Mac’s chief executive dismissed internal warnings that could have protected the company from some of the financial problems now engulfing it, the New York Times said, citing more than two dozen current and former high-ranking executives and others.
In 2004, Chief Executive Richard Syron received a memo from Freddie Mac’s [...]

At the start of the year, James M. Weichert, president and founder of Weichert, Realtors(R), one of the nation’s largest privately-held real estate companies, called upon Congress to take action to stimulate the struggling economy amid growing national concern.
Specifically, Weichert proposed a tax credit for home buyers to rejuvenate the slowing housing market. A little [...]

A lifeline is on the way for thousands of Americans in danger of losing their homes. The President signed off on a giant rescue plan that will help the housing market in its worst slump since the depression. Sean and Maggie Carolan look like a mortgage broker’s dream.- perfect credit, good incomes, low debt, but [...]

Home prices in 20 U.S. metropolitan areas fell at a faster pace in May, indicating the three-year housing slump has not stabilized, a private survey showed Tuesday.
The S&P/Case-Shiller home-price index dropped 15.8 percent from a year earlier, the biggest decline since records began in 2001, after decreasing 15.2 percent in April. The gauge has fallen [...]

President Bush is expected to sign a bill aimed at helping hundreds of thousands of struggling homeowners. The US Congress passed the measure during a rare Saturday session.
The bill authorizes government backed mortgages for borrowers facing foreclosure and provides new tax credits for first time home buyers. It also imposes new standards for brokers and [...]

Two cornerstones of the economy – jobs and housing – sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
The bleak reports underscored the self-reinforcing cycle hampering the economy: As home prices sink, foreclosures rise, banks feel pressure to shy away from lending and [...]

A Bush administration plan to support Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 billion, congressional analysts said on Tuesday in a report that fueled debate as Congress took steps to approve a housing market rescue package.
The report sparked fresh declines in the value of the Fannie and Freddie shares that have already [...]