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U.S. Seizes Control Of Mortgage Giants

Sep. 8, 2008
The government seized control of Fannie Mae and Freddie Mac yesterday in a dramatic bid to restore faith in the embattled mortgage giants and arrest a vicious cycle that has driven the nation's economy into a steep downturn.
Related Stories from UPI.com

Mortgage rates drop again

WASHINGTON, Dec. 4 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell dramatically during the week, the Federal Home Loan Mortgage Corp. said Thursday.

Treasury may be considering mortgage help

WASHINGTON, Dec. 4 (UPI) -- The U.S. Treasury Department is considering direct intervention in the mortgage industry to drive down costs and lift the market, officials said.

Mortgage applications skyrocket in week

WASHINGTON, Dec. 3 (UPI) -- The volume of applications for U.S. mortgages jumped 112.1 percent last week, due to a big drop in interest rates, an industry group said.
U.S. mortgage rates mixed in week

U.S. mortgage rates mixed in week

WASHINGTON, Nov. 26 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the fourth straight week, the Federal Home Loan Mortgage Corp. said Wednesday.

Fannie and Freddie suspend foreclosures

WASHINGTON, Nov. 20 (UPI) -- Fannie Mae and Freddie Mac Thursday announced details of a plan to halt foreclosures and evictions from Thanksgiving until a week after New Year's.

Mortgage rates fall for 3rd straight week

WASHINGTON, Nov. 20 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the third consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.
Freddie Mac seeks $14 billion bailout

Freddie Mac seeks $14 billion bailout

WASHINGTON, Nov. 14 (UPI) -- The Federal Home Loan Mortgage Co. said it had requested $14 billion in federal aid after posting third-quarter losses of $25.3 billion.

U.S. mortgage rates fall for second week

WASHINGTON, Nov. 13 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages declined slightly in the last week, the Federal Home Loan Mortgage Corp. said Thursday.
Mortgage plan falls short, Bair says

Mortgage plan falls short, Bair says

WASHINGTON, Nov. 12 (UPI) -- Federal Deposit Insurance Corp. chairman Sheila Bair said the U.S. Treasury's mortgage modification program unveiled Tuesday does not go far enough.
Obama staff chief was Freddie Mac director

Obama staff chief was Freddie Mac director

WASHINGTON, Nov. 7 (UPI) -- President-elect Barack Obama's new chief of staff was a Freddie Mac director while scandal brewed at the mortgage agency, government reports say.

Mortgage rates drop slightly in week

WASHINGTON, Nov. 6 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages dropped slightly in the week ending Nov. 6, the Federal Home Loan Mortgage Corp. said Thursday.

U.S. mortgage rates rise in week

WASHINGTON, Oct. 30 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages increased in the week ending Oct. 30, the Federal Home Loan Mortgage Corp. said Thursday.

Mortgage rates drop slightly in week

WASHINGTON, Oct. 23 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages eased slightly in the week ending Oct. 23, the Federal Home Loan Mortgage Corp. said Thursday.
Waxman sets Fannie, Freddie hearings

Waxman sets Fannie, Freddie hearings

WASHINGTON, Oct. 21 (UPI) -- U.S. congressional Democrats say they have scheduled hearings into failures at mortgage giants Fannie Mae and Freddie Mac but not until after the election.

U.S. mortgage rates rose in recent week

WASHINGTON, Oct. 16 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages rose in the week ending Oct. 16, the Federal Home Loan Mortgage Corp. said Thursday.
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Snigdha Nandipati of San Diego wins Finals of the Scripps National Spelling Bee
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Snigdha Nandipati of San Diego, California watches confetti rain down as she wins the two-day Scripps National Spelling Bee championship, May 31, 2012, in National Harbor, Maryland. Nandipati successfully spelled the word .* guetapens *, meaning to lure or ambush. UPI/Mike Theiler