Fannie Mae

Nine top banks sued by Fannie Mae over Libor fixing

Fannie Mae is suing the banks for US$800 million in damages. Photo: AP

Fannie Mae sued nine of the world’s largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than US$800 million of damages.

Friday, 1 November, 2013, 2:35pm

'Shadow' homes could burden US housing agencies, report says

'Shadow' homes could burden US housing agencies, report says

Well over a million US homeowners are months behind on payments on government-backed mortgages, raising the risk federal housing agencies will face the cost of managing a fresh flood of foreclosed homes, two government watchdogs say.

5 Jun 2013 - 4:40am

US mortgage giants offer incentive to walk away from home loan debt woes

Prices are recovering after the worst foreclosure crisis since the Great Depression. Photo: Bloomberg

Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property's value and the size of its mortgage. It follows a change in November that lets on-time borrowers sell properties for less than they owe, known as short sales, wiping out the remaining mortgage debt. Normally, the lenders could pursue people to recoup their losses.

30 Jan 2013 - 4:07am

Too big to fail, too difficult to explain

I was hoping for enlightenment, or at least a few amusing anecdotes, about how the Western financial crisis started in America when I signed up for a luncheon talk by Michele Davis, a senior adviser to former US Treasury secretary Hank Paulson, at the Foreign Correspondents' Club yesterday.

14 Mar 2012 - 12:00am

Serious take on a light-hearted poke at credit crisis

Many readers mistake me for a serious columnist; actually Lodown IS my serious column. I wrote something funny on the global credit crisis in the op-ed section the other day and, gratifyingly, instantly received an erudite letter from a reader on The Peak denouncing it.

4 Oct 2008 - 12:00am

Smart move or money pit?

There is so much confusion, concern and uncertainty surrounding the US property market that probably the simplest way to start an overview of its potential attractiveness for international investors is with some statistics. The US National Association of Realtors (NAR) estimated that from May 2007 to May 2008 foreign nationals bought 150,000 to 190,000 homes in the United States.

24 Sep 2008 - 12:00am

Party coming to an end for pair of economic drunkards

There is not much in the current world financial crisis to be grateful for, but one small mercy is that it has silenced all the nonsensical talk about economic decoupling.

10 Sep 2008 - 12:00am

Crisis calls for review of mortgage agencies' mission

Recently, as the global credit crisis continued to unfold, the two largest quasi-government mortgage companies in the United States, Fannie Mae and Freddie Mac, were again subjected to intense scrutiny.

26 Mar 2008 - 12:00am


The Housing Authority has approved an annual scheme to provide 10,000 interest-free housing loans and subsidies worth $5 billion. Options include a non-repayable cash subsidy of $3,800 a month for four years, loans up to $530,000 to be repaid over 13 years, or 20-year loans of up to $390,000. The scheme begins on January 2.

17 Dec 2002 - 12:00am

Fannie Mae makes record $1.5b global bond issue

The Federal National Mortgage Association (Fannie Mae), the biggest mortgage corporation in the United States, has launched a $1.5 billion five-year fixed rate global bond issue.

The issue is the largest fixed-rate local currency issue in Hong Kong to date.

10 Jul 1997 - 12:00am

Banker likes debt institute concept

The proposed Government-led debt securitisation institution, if successful, will allow banks to take on more mortgage lending, Hongkong and Shanghai Banking Corp chairman John Gray says.

It was probably too early to say whether such a vehicle eventually would increase property prices, he said.

16 Mar 1996 - 12:00am

Hopes rise on home loans

HOME buyers could benefit from cheaper loans when the Government sets up a mortgage corporation.

The Financial Secretary said there was a strong case for establishing such a body and hoped to see preparations start as soon as possible once the feasibility study and subsequent market consultations were completed.

7 Mar 1996 - 12:00am

High yield in US mortgages

THE Swiss private bank, Bank Julius Baer, is recommending that its clients consider the US 30-year Mortgaged Back Obligations (MBOs) as a long-term investment.

The money, managed by Sagam Management Corp of New York, is invested in fixed-interest rate mortgages on US residential property.

20 Mar 1994 - 12:00am