Faulty mortgage loans were a major contributor to the recession and now a US regulator is suing 17 big banks for their role in those faulty loans.
The mortgage interest tax deduction is cherished by many Americans as the path to homeownership. But the co-chairmen of the US debt panel say it should be rolled back.
Financial reform legislation hammered out Friday between the House and Senate is the biggest set of new bank regulations since the Depression. But experts disagree on whether it can eliminate 'too big to fail' banks and prevent future bailouts.
Fannie Mae and Freddie Mac guarantee almost $6 trillion in mortgages. The cost of fixing them will be the largest US bailout ever.
Fannie Mae announced a $11.5 billion quarterly loss Monday. The mortgage giant's continued poor performance has added urgency to the question of how – or whether – it should be saved.