Loan Deals: News

Shares of mortgage lender Fannie Mae surged 63 percent Friday after the company said it is considering a reverse-stock split to help meet New York Stock Exchange listing requirements.

Fannie’s shares also could have gotten a boost from light trading on the holiday-shortened trading day. With the market closing three hours early at 1 p.m. EST, and many traders gone for a long holiday weekend, volume was lighter than normal. Light trading volume can exacerbate market moves

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Mortgage Fannie Mae, FED, Home Loans, Mortgage, Split

TAMPA — Thousands of miles from the trading floors of global stock markets, an abandoned house in one of Tampa’s poorest neighborhoods is an improbable place to learn about why the world’s financial system is collapsing.

But if you want to understand how we got into this mess, the stucco house at 4809 N 17th St. isn’t a bad place to start.

Beer bottles and shards of glass litter the yard. A blue tarp covers much of the rotting roof. Boards shutter the windows.

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Mortgage Home Loans, Mortgage