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Former head of bank-rescue program dies at 69

Herbert Allison Jr., a former head of the U.S. government's bank rescue program and CEO of Fannie Mae after it was taken over by the government, died Sunday. He was 69. Full story

House Republicans eye winding down Fannie Mae, Freddie Mac

WASHINGTON (Reuters) - Republicans in the U.S. House of Representatives on Thursday unveiled draft legislation that would wind down mortgage finance companies Fannie Mae and Freddie Mac, strip the mortgage securitization process from government control and revamp the Federal Housing Administration. Full story

Fairholme Funds sues U.S. over Fannie, Freddie bailout agreement

WASHINGTON (Reuters) - Bruce Berkowitz's Fairholme Funds Inc sued the U.S. government, claiming that changes to the bailout terms set for mortgage financiers Fannie Mae <FNMA.OB> and Freddie Mac <FMCC.OB> unlawfully impair shareholder value. Full story

Advocates sue for affordable housing money

Two housing advocacy groups are suing federal housing officials, claiming they are illegally withholding at least $382 million from a fund created by Congress to support affordable rental housing for poor people. Full story

How New Bill Aims to End Bailouts

   Sen. Bob Corker, (R-TN), provides his views on reforming home finance by introducing bipartisan legislation that will replace Fannie Mae and Freddie Mac with a privately capitalized system.

Faber Report: Perry Capital Sues Treasury Dept.

   CNBC's David Faber reports Perry Capital wants to stop the Treasury from enforcing the "Third Amendment" or the way the department deals with Fannie Mae and Freddie Mac.

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Articles

Investment group sues U.S. over Fannie, Freddie bailout terms

Fannie and Freddie make $66.3 billion payment

News Summary: Citigroup to pay Fannie Mae $968M

Insight: Rapid growth of U.S. mortgage servicers draws scrutiny

Senators mull timetable for liquidating Fannie Mae, Freddie Mac

Fairholme reports stake in Fannie, Freddie; wants restructuring

Fairholme makes $500 million bet on Fannie, Freddie preferred: CNBC

Wall Street drops, led down by high dividend-paying shares

Fannie Mae to send $59.4 billion to U.S. Treasury

Fannie Mae to send $59.4 billion in cash toTreasury

Video

  Hope in the Corker-Warner Bill?

Senators Bob Corker (R-TN) and Mark Warner (D-VA) are preparing to introduce a bipartisan Fannie Mae reform bill on Tuesday. CNBC's Steve Liesman offers insight.

  Cramer's Mad Dash: ULTA, FNMA, FMCC

Jim Cramer explains what to watch ahead of the open. Today, it's Ulta Salon Cosmetics, a barometer of high growth, high multiple stocks. Also, Fannie Mae and Freddie Mac, and why folks continue to trade them.

  Fannie Mae to Pay $59.4B to US Treasury

Barney Frank, Former Congressman (D-MA), shares his view on fixing Fannie Mae, the housing market and the state of Wall Street.

  Fannie Mae Record Profit

Fannie Mae expects to remain profitable for the foreseeable future, reports CNBC's Eamon Javers. The company earned $17.2 billion in 2012.

  Blindfolds, Profits and Penance, Santelli Style

CNBC's Rick Santelli explains why there are bigger matters to look at after Fannie Mae and Freddie Mac posted their largest yearly gains in six years.

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Related Photos

A general view of Fannie Mae headquarters in Washington
A general view of Fannie Mae headquarters in Washington

A general view of Fannie Mae headquarters in Washington March 30, 2012. REUTERS/Jonathan Ernst

Representative Mel Watt testifies before the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac in Washington
Representative Mel Watt testifies before the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac in Washington

Representative Mel Watt testifies before the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac on Capitol Hill in Washington June 27, 2013. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS)

Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac in Washington
Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac in Washington

Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac on Capitol Hill in Washington June 27, 2013. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS)

Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac on Capitol Hill in Washington
Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac on Capitol Hill in Washington

Representative Mel Watt arrives at the Senate Banking, Housing and Urban Affairs Committee confirmation hearing to be the regulator of mortgage finance firms Fannie Mae and Freddie Mac on Capitol Hill in Washington June 27, 2013. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS)