The Obama administration on Friday rejected a proposal by Goldman Sachs to buy as much as $1 billion in tax credits from Fannie Mae, saying the deal would have amounted to a net loss for taxpayers, the New York Times reports.

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.

Among the earnings stories for Thursday, Nov. 5, from AP Financial News:

Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

By Al Yoon

Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.

Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.

A look at the evolution of the Federal Reserve's statements on the economy from its three most recent meetings:

Warren Buffett's Berkshire Hathaway has joined Goldman Sachs Group in a bid to buy $3 billion in tax credits from mortgage giant Fannie Mae, the Wall Street Journal's website reported, citing people familiar with the matter.

The Federal Reserve pledged to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.

Warren Buffett's Berkshire Hathaway has joined Goldman Sachs Group in a bid to buy $3 billion in tax credits from mortgage giant Fannie Mae, the Wall Street Journal's website reported, citing people familiar with the matter.

Newly empowered by the Supreme Court, the attorneys general of several states hit hard by the housing collapse are exploring consumer fraud suits against major mortgage lenders.

The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.

Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.