Word: mae
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Dates: during 2000-2009
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...effective control of the company. Whether the government's stake would rise to the 100% that many economists recommend - completely wiping out existing shareholders - is questionable. But Citi does seem inexorably headed for the same ward-of-the-state status currently occupied by insurer AIG and mortgage giants Fannie Mae and Freddie...
...those with jumbo mortgages - ones that have traditionally been for more than $417,000 - are seeing delinquencies accelerate the fastest. In January, 3.32% of such borrowers were behind on their payments, up from 1.75% in August. (That doesn't include the 1.1% of borrowers already in foreclosure.) Since Fannie Mae and Freddie Mac don't buy these large loans, it's been tougher for homeowners to refinance their way out of trouble - and the new housing-rescue package, which specifically excludes jumbo loans, won't do anything to change that dynamic...
...attitude, “Hush” lacks any type of edge. Despite the occasional pounding drum, the songs never depart from the prevailing dreamy tone, making much of the album essentially indistinguishable. As “In the Sky” fades into “Meh No Mae,” the album reaches its nadir, with the next several songs just as unexciting as the previous. Even when they mix up the formula—like when guitarist James Hanna makes a vocal appearance on “I Can’t See?...
...government should do something to help responsible homeowners, the plan also seeks to help borrowers who have been making mortgage payments on time but can't refinance into cheaper loans because they've seen equity in their homes evaporate as prices have plummeted. The federal housing agencies Fannie Mae and Freddie Mac will refinance loans they hold or guarantee, even if borrowers owe more than their house is worth - up to 105% of the value of the property. The Administration figures that offer could reduce monthly payments for 4 million to 5 million borrowers...
Finally, the plan bolsters the amount of money allocated to Fannie Mae and Freddie Mac in an effort to keep mortgage rates low and entice new home buyers into the market, since new buyers are what's needed to drive down the number of extra houses for sale. The two agencies, which financed or guaranteed nearly three-quarters of new home loans last year as private players retreated, will be allowed to hold more mortgages on their books and could eventually see additional infusions of cash from selling preferred stock to the Treasury Department - an authority granted in legislation last...