Free Republic

WASHINGTON (Reuters) - Fannie Mae, the largest provider of residential mortgage funds, on Friday reported a loss of $16.3 billion for the fourth quarter of last year and said it requested $15.3 billion from the Treasury to keep its net worth in positive territory. The government-controlled company said it would need additional taxpayer funds in the future to continue operations. Fannie Mae said the quarterly loss came as rising defaults kept credit-related expenses elevated at $11.9 billion, though expenses were almost half the third quarter level of $22.0 billion. Fannie Mae's quarterly loss was $15.2 billion before a $1.2 billion...

Gee, what took you so long? McLean, VA – Freddie Mac (NYSE: FRE) announced today that on or about September 1, 2010, the company will cease purchasing and securitizing interest only mortgages, including Freddie Mac Initial InterestSM fixed-rate and adjustable-rate mortgages. Additional information will be provided to Freddie Mac Seller/Servicers in an upcoming Single-Family Seller/Servicer Guide bulletin.Interest only mortgages, including Freddie Mac Initial Interest mortgages, provide for interest-only payments for a specified period of time beginning with the first monthly payment after the note date, and principal and interest payments on a fully amortizing basis for the remainder of the...

Here is video of Keith Olbermann saying that "Deniers" are showing "ignorance" by citing the recent winter storms as evidence disproving global warming. (Video) Olbermann said, "the record snowfall has exposed just how ignorant leading deniers are...they think it's disproved by snow." He continued to mock people for saying that snow is evidence that there is no global warming, despite this video showing Democrats Robert Byrd, Barbara Boxer, Amy Klobuchar, and Diane Feinstein in the past all making an argument for global warming by citing warmer winters and little snow as evidence.