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Source: news.good-stuff.us --- 25 minutes ago
Posted To: Pipeline Press Don't forget to "Spring Ahead" this Sunday morning. We lose an hour of sleep. The FDIC made a rare Thursday move and shut down LibertyPointe Bank This bank catered to the Orthodox Jewish community in Manhattan and Brooklyn, and will be taken over by Valley National. For anyone hedging with securities, there's a new broker dealer in town. Well, maybe not so new, but Wells Fargo Securities , who apparently is making a market in trading MBS's, according to news sources will add Kevin Jackson to its residential mortgage-backed securities (MBS) team. Jackson is leaving Merrill Lynch Bank of America to join Wells as part of a broader move to expand that platform. Did you hear the one about the parrot and Bank of America ? A nun and a parrot walked into a branch… never mind…( read more ) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Full story ... Source: mobile.reuters.com --- 56 minutes ago
NEW YORK, March 12 (Reuters) - Freddie Mac <FRE.N> <FRE.P> said Friday it plans to sell $3.0 billion of reference bills on Monday. ... Source: www.latimes.com --- 15 hours ago
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. ... Source: www.foxbusiness.com --- 16 hours ago
Fannie Mae, Freddie Mac Will Clear Their Swaps -Overseer ... Source: www.dsnews.com --- 17 hours ago
As the commercial real estate market continues to deteriorate, economists warn that overleveraged apartment owners may find it near to impossible to refinance their outstanding debt. Freddie Mac is keenly aware of the impact this lack of credit could have on the marketplace, and the GSE is taking steps to implement a new lending program that taps third-party mezzanine lenders to ensure funding is available for those multifamily property owners facing loan maturities. ... Source: www.realestaterama.com --- 20 hours ago
McLean, VA - March 11, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent. ... Source: www.biggerpockets.com --- 20 hours ago
Hi every one. I have a deal I have been working on since October. Loan is with SunTrust (Freddie Mac). My LLC stepped out of the way to let the end buyer buy directly from the bank. Agent is only getting 3% and my negotiation company was going to get 3%, purchase price is 100% of BPO. Negotiator says we have final approval on the first but they (Freddie) will not pay the negotiation fee. What should I do. My LLC (the original buyer) still has Notice of Option on Property. Also end buyer has agreed to pay me $2500 for negotiations for him. Thanx Any help would be great. ... Source: www.cehwiedel.com --- 23 hours ago
The Obama Administration quietly announced around Christmas time that Fannie Mae and Freddie Mac have an unlimited credit line with the federal government. The graphic from the New York Federal Reserve shows how the portfolio of mortgages owned by Fannie Mae and Freddie Mac were performing at that same time. Fannie Mae and Freddie Mac own mortgage [...] ... Source: uk.reuters.com --- 1 day ago
NEW YORK, March 11 (Reuters) - U.S. mortgage rates dropped for a second straight week, remaining below 5 percent, a key level that could boost home loan demand, a closely watched mortgage survey showed on Thursday. ... Source: www.foxbusiness.com --- 1 day ago
Freddie Mac: 30-yr Fixed-rate Mortgage Rate Slips ... Source: uk.reuters.com --- 1 day ago
NEW YORK, March 11 (Reuters) - U.S. mortgage rates dropped for a second straight week, remaining below 5 percent, a key level that could boost home loan demand, a closely watched mortgage survey showed on Thursday. ... Source: finance.originalsignal.com --- 1 day ago
REIT Wrecks submits:According to Instutional Investor, Freddie Mac (FRE) is bringing its high leverage crack pipes back to the multi-family market. But the move is less a return to the go-go days than a sign of how weak the commercial real estate market is, and it appears to be driven more by the fact that Freddie is running out of underwriting capacity rather than any real confidence in apartment investments.Under the plan, Freddie intends to bribe join forces with a handful of mezzanine lenders to “expand its multifamily mortgage origination program”. However, the new program is definitely more about saving Freddie’s existing program than expanding it. Freddie Mac has already been offering relatively high LTV loans for some time, but the agency lender relies on liquidity in the CMBS market to refresh its underwriting capacity. With the CMBS market only now starting to show signs of life, Freddie is holding on to much more of this paper than it originally intended.Complete Story » ... Source: www.bearmarketinvestments.com --- 1 day ago
“Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has filed a new motion in its Freedom of Information Act (FOIA) lawsuit against the Federal Housing Finance Agency (FHFA) that would force the Obama administration to release documents related to political contributions made by the mortgage giants Fannie Mae and Freddie Mac. According to the FHFA, Fannie Mae and Freddie Mac might possess documents responsive to Judicial Watch’s initial FOIA request; however, the agency claims it is not obligated to release such documents to the public. Judicial Watch maintains that since Fannie Mae and Freddie Mac are now wholly operated by the federal government they are subject to FOIA law.” Read more…. ... Source: www.gurufocus.com --- 1 day ago
Mr. Richard Pzena is founder and Co-Chief Investment Officer of Pzena Investment Management, LLC, with more than $24 billion under management. Pzena started firm in 1995. Pzena's philosophy is based on ranking companies from the cheapest to the most expensive on the basis of current share price to normal long-term earnings power. He purchases shares in good businesses that are selling at a low price. He understands that it is often unrealistic to expect such opportunities to be available absent some sort of problem which causes the price of the shares to drop. The question Pzena and his team try to answer is whether the issue that caused the drop in price is temporary or permanent. From Pzena Investment, the 4Q commentary states "excess returns based on low valuation in emerging markets are more than double those in developed markets over the last 22 years... [We] postulated that broader spreads in emerging markets may be the source of the more substantial value effect in emerging markets." The article proved that market valuations have been converging with emerging stock valuations the over the past 20 years (Fig. 2). The data from emerging stock valuations came from the "cheapest quintile of emerging markets". This is another way to look at value-investing trends. Richard Pzena was featured in Outstanding Investor Reader's Digest (2008): "Surviving the Cycles" . The article summarized Pzena's track record, "Through December 31, 20 ... Source: uk.reuters.com --- 1 day ago
March 10 (Reuters) - The following are scheduled sales announcement dates for potential Freddie Mac reference, Fannie Mae benchmark notes and Federal Home Loan Bank (FHLB) global note offerings in 2010. ... Source: www.theleftcoaster.com --- 2 days ago
For once a shallow, obtuse, gossip-driven, no-memory corporate-toadie American journalism corps is of enormous benefit to the Democratic Party, for if the truth about how the US government has bailed out two strange, semi-private mortgage companies—Fannie Mae and Freddie Mac—in these viciously Great Recession tough times the Democrats would get absolutely blasted out of office this Fall. Succinctly define Fannie Mae. Even the most soaked of public policy geeks can barely do it, and I’m positive my own understanding of what these companies allegedly do is woefully short. Fannie Mae was created in the Depression to subsidize home mortgages of for the little people, “freeing money” from banks by buying a 30 year mortgage at 5% (say) and then letting a little person use that mortgage at 3%, taking a loss but still capable of making money. I think that’s the bare-bones idea behind Fannie Mae. In 1968 the Feds sorta privatized Fannie Mae, gave it stock, and created a “competitor,” Freddie Mac. Time passed, Fannie and Freddie naturally changed, morphing into general mortgage companies, kind of, things generally getting a little lost on original mission and then bersekely out of control in the insane housing bubble of the early 2000’s. The story of Fannie Mae and Freddie Mac’s bailout absolutely reeks to high heaven of outrageous enabling of corporate crooks or incompetents (likely both) for what could easily be a trillion dollars in little ... Source: thefoiablog.typepad.com --- 2 days ago
That's the question being posed in a lawsuit brought by Judicial Watch, and the government is pushing forward with its position that the two entities that are now being run by the government are not subject to disclosure laws. Judicial Watch has recently responded to the government's brief on the matter. At the time they were created, Fannie and Freddy were not subject to the FOIA, because Congress made them exempt--they were government sponsored corporations but not actually treated like government. Congress has done this with other entities such as the Public Company Accounting Oversight Board, thereby allowing some government functions to be performed in secret. However, the Bush administration's economic collapse took down Fannie Mae and Freddy Mac requiring them to be trustees of the government. This opened up the question of whether there records are now subject to the FOIA, which I would answer in the affirmative. This is because if you are being wholly run by the government you are subject to the FOIA. Nonetheless, Fannie Mae and Freddie Mac push their fight on--hoping to continue to operate in the non-transparent world as it existed in July of 2007. ... |
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