Washington, DC, United States (AHN) – Mortgage giant Freddie Mac has its hands out again.

The government-owned entity has requested $6 billion in additional aid after posting a greater loss than expected for the third quarter.

The company announced Thursday that it lost $6 billion, or $1.86 a share, in the July to September quarter. That is in comparison to a loss of $4.1 billion, or $1.25 a share in the same quarter of 2010.

Freddie’s $6 billion request in aid from taxpayers is the largest since April 2010.

Reasons cited for Freddie’s steep losses are that many homeowners are paying less interest because they are able to refinance at lower rates, and failing and bankrupt mortgage insurers are not paying out as much money when homeowners default.

The government rescued McLean, VA,. based Freddie Mac and sister company Fannie Mae in September 2008 after massive losses on risky mortgages threatened to bankrupt them both. Since their rescue, a federal regulator has controlled their financial decisions.

Taxpayers have borne the brunt of the Freddie and Fannie rescue, spending about $169 billion, making it the most expensive bailout of the 2008 financial crisis. Government estimates are that it will cost at least $51 billion more to support both companies through 2014, and as much as $142 billion in the most dire case.

Freddie Mac and Fannie Mae own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans worth more than $5 trillion. They backed nearly 90 percent of new mortgages over the past year along with other federal agencies.

Pressure continues on the government to eliminate Freddie and Fannie and reduce taxpayers’ exposure to risk.

The Treasury Department did put a plan in place in February to slowly dissolve the pair, but the plan could take years.

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Washington, DC, United States (AHN) – Within 24 hours of President Barack Obama defending his administration’s decision to give a financial injection to solar energy company Solyndra, now under investigation after going bankrupt, the Obama administration lost its first high-level official directly connected with Solyndra.

Jonathan Silver, executive director of the Department of Energy’s Loans Programs Office since 2009, resigned to become a distinguished visiting fellow at Third Way, the Department of Energy confirmed.

“In early July, shortly after the fiscal year 2011 budget was completed by Congress and it became clear that no significant new funds were included for the loan program, Jonathan Silver informed me that he intended to return to the private sector shortly after Sept. 30, the statutory end-date of the 1705 loan guarantee program,” said Energy Secretary Steven Chu in a statement.

“Since he joined the department in November 2009, Jonathan assembled and managed a truly outstanding team that has transformed the program into the world leader in financing innovative clean energy projects,” Chu said.

Commenting on Silver’s work at the department, Chu added, “Under his leadership, the loan program has demonstrated considerable success, with a broad portfolio of investments that will help American companies compete in the global clean energy market.”

On Silver’s decision to leave, Chu said, “Because of my absolute confidence in Jonathan and the outstanding work he has done, I would welcome his continued service at the department, but I completely understand the decision he has made,” concluding, “I want to thank him for his tremendous service to our country and for the work he and his outstanding team have done to renew American leadership in clean energy innovation.”

Responding to Silver’s resignation, Energy and Commerce Committee Chairman Fred Upton (R-MI) and Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-FL) said in a statement, “Mr. Silver’s resignation does not solve the problem. We are in the midst of the Solyndra investigation and just days removed from Mr. Silver’s mad rush to finalize the last $4.7 billion in loans before the statutory deadline.”

Attacking Democratic President Obama, the Republican lawmakers said, “Just this past Monday, the President declared the loan guarantee program sound and said that it was to be expected that one company like Solyndra could fail. But today the President changed his tune, stating, ‘The nature of these programs are going to be ones in which, you know, for every success there may be one that does not work out as well.’ Does the Obama Administration now expect that half of these companies will fail? American taxpayers are already on the hook for the half billion dollar Solyndra bust – what other shoes does this Administration expect to drop?”

The lawmakers noted that Silver, who was responsible for doling out $18 billion in stimulus loan guarantees, appeared before the Oversight and Investigations Subcommittee on Sept. 14 for a hearing on Solyndra and the DOE loan guarantee program.”

Earlier on Thursday, answering a question on Solyndra fiasco at a news conference in the White House Obama said, “There were going to be some companies that did not work out; Solyndra was one of them.,” arguing that, “the process by which the decision was made was on the merits. It was straightforward. And of course there were going to be debates internally when you’re dealing with something as complicated as this.”

After further prodding by journalists about the warnings his administration received, Obama said, “And all I can say is that the Department of Energy made these decisions based on their best judgment about what would make sense.”

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Dublin, Ireland, United Kingdom (AHN) – Credit ratings agency Moody’s has downgraded the credit rating of Ireland’s major banks to junk status after cutting the government’s sovereign debt rating last week.

The move means an increase in the cost of borrowing.

Moody’s cut the long-term bank deposit rating for four banks by two notches, which dropped Allied Irish Banks, EBS Building Society and Irish Life & Permanent to a Ba2 rating, and Bank of Ireland to a Ba1, which is still a notch above its rivals.

Most of the bailout funds for Irish Republic are coming from the International Monetary Fund and the European Union. The government is trying to restructure both its debts and the debts of the now mainly nationalized banking system.

While both the IMF and the EU say they think the Irish Republic is making good progress on pulling out of its economic crisis, Moody’s remains skeptical. In downgrading the banks, Moody’s said it would likely make further downgrades to credit ratings if the nation fails to meet its fiscal consolidation goals.

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There is usually a minimum amount a consumer can borrow although that is not always the case and varies from customer to customer. The information the lender needs in the application process include salary and employment details, the requested loan amount, and most importantly, the VIN, which stands for Vehicle Identification Number. This 17 digit number is on a car’s dashboard. The requested loan amount should not be more than the value of the car; otherwise your application is likely to be denied.

There are websites dedicated to offering you comprehensive information about the refinance auto loan providers out there. As well as this, there are websites offering comparisons of the loan rates and interest rates. The best place to start your refinance research is on the internet, so that you can eventually choose the right loan provider for you.

In order to secure an auto refinance loan at a low rate of interest, in comparison to your current lender, potential borrowers should have a solid credit history. The better the financial record, the lower the potential interest rates on offer.

Regarding the application procedure, you need to know how much you are looking to borrow from the money lending company. Potential clients can apply for refinance loans over the internet, which is a relatively easy and low impact way, as there is no obligation for the consumer to follow through, regardless of if their application has been accepted or not. In order to apply, and to increase the chances of your application being accepted, you need to provide details about your income, employment status, financial records, vehicle model and registration, and most important, how much you are hoping to receive from the money lender, in order to pay off the original loan.

The main attraction of auto refinancing is the low rate of interest that the majority of lending firms offer. Another benefit is the contract, as borrowers can usually secure a more flexible repayment plan than in their original agreement. Although most borrowers opt to repay in monthly installments, some loans firms offer their clients the opportunity to pay them back on a quarterly, twice yearly or annual basis.

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The refinance auto loan allows customers to pay off the loan on a monthly basis to money lenders. Depending on the lending firm, it’s possible for borrowers to pay installments on a quarterly, bi-annual or yearly basis. If you have some capital, it can also be possible for you to give it to the money lender as a lump sum. This could potentially lower the amount of interest you are paying, as well as decreasing the amount of time you are contractually bound to pay back the firm.

Information and advice on auto refinance loans and debt management are available on the internet. Consumer-based web forums are a great place to research money lending companies, as reviews and impartial reports are provided. On these websites, the section on auto refinancing allows the user to view graphs and feedback as to how many people have been satisfied with the money lenders’ services and how the refinance auto loan has worked out for them.

Many loans companies now have websites, with comprehensive information available on the services they offer and the criteria a potential borrower has to meet in order for the loan request to be accepted. The internet is also a good place to look for more information, as well as for applying online.

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Go for the low interest rate auto financing, and enjoy the crusade in your personal car. If you have bad credit situation, and if you are also having bad credit score, then the only way in which you can become a car owner is by shopping for low interest auto loan,. This type of loan is offered by many local auto loan lenders at low interest rates to the borrowers who are in a financial turmoil. It is advised to the borrowers that in case they come across handsome offer from the lender on the bad credit auto lending, they should immediately avail it for their financial benefits. There are many experienced bad credit lenders in the traditional auto loan market, and you can even have them right out there on Internet. Ultimately it is you who have to make the choice and get the loan process started. The more you delay in choosing; bleaker will be the chances to find low interest car loans.

The quick and ideal way in which you can buy low interest auto financing is Internet. Car loans online provide you with low interest rates. Do not go for traditional auto financing method, as the interest rates charged are very high.