Bear Market Investments » Real Estate

Fannie Mae profit hurts lenders

admin — Fri, 24 May 2013 13:51:20 +0000

Fannie Mae posted a significant profit in the first quarter of 2013, but the surge in profit comes at a price for lenders.

http://www.bloomberg.com/news/2013-05-24/fannie-mae-winning-at-the-alamo-prompts-lender-angst.html

Bloomberg

Jody Shenn

Freddie Mac mortgage portfolio continues expansion

admin — Fri, 24 May 2013 13:47:07 +0000

Freddie Mac bought $47.3 billion worth of loans in April and also liquidated $41.9 billion of loans, causing its mortgage portfolio to increase at an annualized rate of 0.6% in April.

Ralph Nader enters GSE debate, stands up for shareholders

admin — Fri, 24 May 2013 13:19:05 +0000

A controversial, off-the-beaten path former presidential candidate has entered into the great debate over Fannie Mae and Freddie Mac. His dog in the fight? A desire to stand up for GSEs’ shareholders.

http://www.albanytribune.com/23052013-nader-says-fannie-and-freddie-stockholders-stuck-in-financial-limbo-oped/

Albany Tribune

Eleventh Circuit rules against homeowner in mortgage transfer case

admin — Fri, 24 May 2013 12:41:41 +0000

The Eleventh Circuit dismissed a class action lawsuit brought by a mortgage holder, putting to rest the borrower’s allegations of Wells Fargo violating the Truth in Lending Act, Law360 reports.

http://www.law360.com/banking/articles/444540?nl_pk=a3b26d7a-e06c-4ccd-a9a7-9a4588250fb7&utm_source=newsletter&utm_medium=email&utm_campaign=banking

Law360

Raphael Pope-Sussman

Goldman overhauls bank to regain customer confidence

admin — Fri, 24 May 2013 12:36:09 +0000

Goldman Sachs’ reputation was hit hard during the financial crisis, but a new plan unveiled by the CEO aims to regain investor confidence.

http://www.reuters.com/article/2013/05/23/goldman-matrix-idUSL2N0E418W20130523

Reuters

Lauren Tara LaCapra

Bank of America praised, criticized for homeowner relief

admin — Fri, 24 May 2013 00:00:00 +0000

“The accolades were striking in light of New York Attorney General Eric Schneiderman’s allegations that Bank of America, as well as Wells Fargo, has failed to help struggling homeowners under the agreement. Schneiderman was one of 49 attorneys general to negotiate the $25 billion settlement with the nation’s five largest mortgage servicers, including JPMorgan Chase, Ally Financial and Citigroup, over foreclosure abuses last year. ”

Head of the IMF Christine Lagarde in court charged with embezzlement and fraud

admin — Fri, 24 May 2013 00:00:00 +0000

“The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud. Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.”

The Essence of Hilsenrath | The Wall Street Examiner

admin — Fri, 24 May 2013 00:00:00 +0000

“And now I understand what the great Yogi meant when he said, “When you come to a fork in the road, take it.””

FHFA: Home prices continue climb

admin — Thu, 23 May 2013 13:20:54 +0000

Upward momentum in home prices remained strong in the first quarter of this year due to the Federal Reserve’s quantitative easing program, which continues to help asset prices rise in the housing market.

Jobless claims inch down

admin — Thu, 23 May 2013 12:47:44 +0000

Jobless claims in the U.S. reversed back down, falling by 23,000 filings for the week ending May 18. ”This report is definitely a strong positive for the employment outlook,” Econoday said.