BofA and JPMorgan: The Freddie & Fannie Pain (BAC, JPM, FRE, FNM)

Big_Banks_Housing_Crisis.jpg

Bad news for Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM), they are going to feel the pain to the tune of billions of dollars thanks to the delinquent loans of Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM).

Stocks Under $1: Fannie Mae, Borders Group and PokerTek (NYSE:FNM), (NYSE:BGP),(NASDAQ:PTEK)

Stocks under $1 (one dollar)

Rough week for these once darling companies as Fannie Mae (NYSE:FNM), Borders Group, Inc. (NYSE:BGP), and PokerTek, Inc. (NASDAQ:PTEK) join the ranks as stocks under one dollar.

The Fed Exit for Fannie and Freddie (NYSE:FNM),(NYSE:FRE)

Federal Reserve

The Fed looks is set exit the housing market and follow through with its pledge to do so. The impact of this to Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) are not exactly certain. 

Fox Business Coverage of Kissing Fannie and Freddie Good-Bye (FNM, FRE)

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Mortgage Rates Ease Back to 5%

Housing and Money (2)

Mortgage rates declined this week after a month of gains, with the average rate on 30-year fixed-rate mortgages retreating closer to 5%, according to Freddie Mac's (NYSE:FRE) weekly survey of mortgage rates.

Volume-Price: Fannie, Freddie, MGM and The Sands (NYSE:FNM),(NYSE:FRE),(NYSE:MGM),(NYSE:LVS)

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Stocks making strong gains Monday on heavy volume include Fannie Mae (NYSE:FNM), Freddie Mac (NYSE:FRE), MGM MIRAGE (NYSE:MGM) and Las Vegas Sands Corp. (NYSE:LVS).

Freddie Mac: 30-Year Mortgage Rate At 38-Year Low (4.71%)

Freddie (NYSE:FRE) and Fannie (NYSE:FNM)

Freddie Mac (NYSE:FRE) has some great news to report, 30-year fixed-rate mortgage rates are now at  4.71% on average for the week ended Thursday, down from last week's 4.78% average and 5.53% a year ago.

Freddie May be in More Trouble

Freddie (NYSE:FRE) and Fannie (NYSE:FNM)

Calculated Risk graphs the increasingly worrisome delinquency rate at Freddie Mac (NYSE:FRE), now up to 3.33% of its book of business from 3.13% in August, and from 1.22% in September 2008.  Freddie Mac (NYSE:FRE) is currently trading down close to -3% to $1.33 a share, which is still substantially better than the 52-week low of just 35 cents per share.

Fannie and Freddie Shares: Worthless (FNM, FRE)

Freddie (NYSE:FRE) and Fannie (NYSE:FNM)

Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) shares fell 18% today after a Keefe, Bruyette & Woods analyst downgraded the two to the firm's lowest rating, saying their common and preferred shares would be "worthless" given the nearly $100 billion they will continue to owe the government, even if recapitalized.

TodayTrader.com - Sept 14th Trading

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