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WASHINGTON - Donald Layton, the former chief executive of brokerage firm E(asterisk)Trade Financial Corp, will be the next CEO of Freddie Mac.
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A 20% down payment and no debt delinquency for the last two years would be required to reach the mortgage industry's proposed gold standard.
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The department will sell up to $10 billion of its portfolio each month.
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The Obama Administration has put forward three possible plans for the replacement of the GSEs.
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Lenders, affordable housing experts, financiers, and others focus on vastly different priorities and factors during Treasury housing summit panel.
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Treasury Secretary Geithner calls for a new paradigm for mortgage guarantees.
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Videos and other ad materials highlight homeowners who kept their houses through the Treasury Department’s Making Home Affordable Program.
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Government sought to lower rates by buying mortgage-backed securities.
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Details about incentives to servicers and troubled homeowners to accept short sales are expected soon.
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At least 300,000 taxpayers through August have bought homes using the credit, according to tax return data.
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Thanks to the government's aggressive efforts, the economic turmoil may have bottomed.
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Current CEO Herb Allison reportedly is the frontrunner to run Treasury’s bailout efforts.
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Plan would allow ‘responsible homeowners’ to refinance underwater home loans and offer support and incentives to homeowners, lenders, and servicers to keep people in their homes.
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Treasury Secretary emphasizes “financial stability” and “responsibility” for programs that could exceed $2.5 trillion in additional public and private spending.
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Treasury secretary suggests public utility model may be best structure for Fannie and Freddie in future.
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Treasury plan could offer home buyers government-backed loans with fixed rate of 4.5 percent.
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Treasury has authority to do so, thanks to $700 billion bailout.
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House will vote on modified proposal Friday.
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Treasury announces plan to stabilize housing and financial markets by buying troubled loans and supporting purchase of more mortgage-backed securities.
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The dip in new-home starts, according to government estimates, is the lowest for any month in 17 years.