Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Freddie Mac pays $700K to former exec’s survivors (AP)

AP - Freddie Mac is paying out more than $700,000 to the family of David Kellermann, the mortgage finance company's former acting chief financial officer who died last week in an apparent suicide, the company disclosed Thursday.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Freddie Mac pays 2008 bonuses, honors Kellermann’s (Reuters)

The headquarters of mortgage lender Freddie Mac is seen in Mclean, Virginia, near Washington, in this September 8, 2008 file photo. REUTERS/Jason Reed/FilesReuters - Freddie Mac, the U.S. mortgage finance giant, on Thursday said it paid $1.3 million in retention bonuses to three executives in late 2008 and so far this year, including a full payout of the award promised to its acting chief financial officer before his shocking death, according to a Securities and Exchange Commission filing.


Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

U.S. House acts to protect credit card users (Reuters)

An employee of Kyobo bookstore holds a customer's credit card after swiping it to pay for purchases in Seoul February 5, 2009. REUTERS/Jo Yong-HakReuters - The U.S. House of Representatives overwhelmingly voted on Thursday in favor of legislation to protect credit card users from hidden fees, sudden interest rate hikes and questionable billing practices.


Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Regulators didn’t challenge Freddie’s accounting (AP)

AP - An outside investigator early last year told regulators that Freddie Mac failed to properly document interest rate bets, but the government didn't challenge the mortgage finance company's accounting practices.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Rates on 30-year mortgages tie record low (AP)

A sold sign hangs outside an existing home that was for sale in Bainbridge Twp., Ohio on Monday, April 27, 2009. Home prices dropped sharply in February, but for the first time in 25 months the decline was not a record, another sign the housing crisis could be bottoming. (AP Photo/Amy Sancetta)AP - Rates on 30-year mortgages tied a record low this week, spurring refinancing activity as the troubled housing market moves closer to possibly hitting the bottom, Freddie Mac said Thursday.


Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

U.S. lawmaker sees credit card law in May (Reuters)

Reuters - President Barack Obama will sign wide-ranging, pro-consumer credit card reforms into law by late May, senior U.S. House Democrat Carolyn Maloney predicted on Wednesday.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Ex-American Home CEO settles with SEC for $2.45M (AP)

AP - The former head of American Home Mortgage Investment Corp. has agreed to pay nearly $2.5 million to settle federal civil charges of accounting fraud and concealing the company's deteriorating finances as the subprime mortgage crisis hit in 2007.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Obama administration expands housing aid plan (AP)

AP - The Obama administration said Tuesday it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers' bills on second mortgages.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Ex-American Home CEO settles with SEC for $2.45M (AP)

AP - The former head of American Home Mortgage Investment Corp. has agreed to pay nearly $2.5 million to settle federal civil charges of accounting fraud and concealing the company's deteriorating finances as the subprime mortgage crisis hit in 2007.
Filed Under: Uncategorized by: Yahoo! News: Personal Finance News

Treasury has new mortgage incentives: official (Reuters)

Reuters - The U.S. Treasury Department will on Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official.