News & Public Affairs

Foreclosure Assistance event in Tampa on Saturday listen

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Tags: Mortgage crisis, Foreclosure

Fannie Mae and Freddie Mac are the two biggest U.S. mortgage finance companies. But there are growing concerns that the companies may not have enough capital to weather the biggest housing slump since the Great Depression.

Concerns that Fannie Mae and Freddie Mac may need more capital were heightened this week after Lehman Brothers released a report saying a new accounting rule may require the companies to raise $75 billion.

Freddie Mac shares dropped 18 percent after the report was is...

Report: Minorities most affected by mortgage crisis

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Tags: Foreclosure, Subprime mortgages

In the past eight years, U.S. mortgage companies targeted African Americans, Latinos and low-income people as the "best candidates" for subprime home loans, according to a new report from United For A Fair Economy.

The report, released today, says that subprime mortgages, home loans issued to Americans with questionable finances, were "ruthlessly hawked" and that a "solid majority of subprime loan recipients were people of color."

Hundreds of thousands of families lost their homes to f...