Updated from 2:50 p.m. EDT with the DOJ lawsuit against Bank of America and market close information. NEW YORK ( TheStreet) -- Fannie Mae ( FNMA) and Freddie Mac ( FMCC) were the big losers among major U.S. financial names on Tuesday, as President Obama prepared to deliver a speech calling for the end of both mortgage giants. Fannie Mae's common shares were down 16% to close at $1.51, while Freddie Mac was down 15% to close at $1.40. The broad indices ended with 1% declines after Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, said in a speech that the Federal Reserve could slow its bond-buying as soon as next month. The Fed has been making monthly purchases of $85 billion in long-term securities in an effort to hold-down long-term interest rates. Investors have anticipated this move by the Fed by pushing the market rate on 10-year U.S. Treasury bonds to 2.65% from 1.70% at the end of April. The KBW Bank Index ( I:BKX) was down 1% to close at 66.02, with all but two of the 24 index components showing afternoon declines. Shares of Bank of America ( BAC) were down over 1% to close at $14.64, after the Department of Justice in the final hour of trading announced a lawsuit accusing the bank of mortgage fraud.