Mortgage Crisis Timeline

Main

Mortgage Industry Events

New Century Financial files for bankruptcy

04/02/2007

The Financial Crisis: A Timeline of Events and Policy Actions
http://timeline.stlouisfed.org/index.cfm?p=timeline

FHFA places Fannie Mae & Freddie Mac into conservatorship

09/07/2008

Financial Events

Credit Suisse offers first CDOs

12/12/2000

FOMC lowers fed funds rate to 1.25%

11/06/2002

http://www.federalreserve.gov/boarddocs/hh/2003/february/testimony.htm

"We viewed that action as insurance against the possibility that the still widespread weakness would become entrenched."

FOMC lowers fed funds rate to 4.5

12/11/2007

FOMC lowers fed funds rate to 3.00

01/30/2008

FOMC lowers fed funds rate to 2.25

03/18/2008

FOMC lowers fed funds rate to 2.00

04/30/2008

Legislative Events

Federal Housing Enterprises Financial Safety Act

10/02/1992

Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (IBBEA)

09/29/1994

Gramm-Leach-Bliley Act (Financial Svcs Moderinization Act)

11/01/1999

Repeals the Glass-Steagall Act of 1933

http://banking.senate.gov/conf/

American Housing Rescue and Foreclosure Prevention Act

05/08/2008

Housing & Economic Recovery Act of 2008

07/30/2008

American Recovery and Investment Act of 2009

02/17/2009

Helping Families Save Their Homes Act of 2009

05/20/2009