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How Fed cut will affect mortgages was expecting the Fed to cut rates," says David Berson, chief economist for Fannie Mae, the No. 1 U.S. mortgage financier. "All this does is help validate the drop in mortgage rates already." The market rate for a 30-year fixed-rate...
US banks agree to pay $8.5 billion to clean up mortgage mess

...Regulators announced the deal on the same day that Bank of America agreed to pay $11.6 billion to government-backed mortgage financier Fannie Mae to settle claims related to mortgages that soured during the housing crash.The agreements come as...