News Tag: Freddie Mac
August 10, 2008
America’s largest mortgage finance company, Fannie Mae, has revealed a net loss of $2.3 billion (£1.2 billion) for the second quarter, compared with a profit of $1.97 billion (£1.02 billion) last year.
The loss is a direct result of the problems in the US housing market and the sub-prime crisis, as borrowers defaulted on home loans.
The ...
US Fannie Mae in the red after loss of $2.3 billion
by Kay Murchie
July 13, 2008
California-based IndyMac Bank, which is one of the largest US mortgage lenders, has collapsed as fears over a credit crisis intensify.
IndyMac has had its assets seized by Federal regulators after concerns that it might not be able to meet withdrawals by depositors.
The bank has been struggling to raise cash and continue to trade after the US housing market slump continues with the ...
US IndyMac Bank collapses
by Kay Murchie
