This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
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Items Tagged with 'mortgage-backed securities'

ARTICLES

Jefferies trader Litvak may win reversal of rare fraud conviction

Originally sentenced to two years in prison
Brena Swanson
In an unexpected turn of events, former Jefferies & Co. Managing Director Jesse Litvak has a good chance of overturning his conviction for defrauding mortgage bond investors after the 2008 financial crisis. Litvak is the only person convicted of fraud in relation to the $20 billion U.S. Treasury Department’s Troubled Asset Relief Program.
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Ginnie Mae’s MBS portfolio reaches $1.5 trillion

Grown 30% from $1 trillion in 2010
Ben Lane
The corporation's portfolio has grown from $1 trillion in 2010 to $1.5 trillion in 2014. It took 42 years, from the company's founding in 1968 to 2010, for its portfolio to reach $1 trillion.
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Justice using JPM settlement to pursue other banks

Part of $13B settlement being used to beef up U.S. Attorney offices
Ben Lane
Reuters reports, citing people familiar with the matter, that the U.S. Attorney’s offices that have been the most vigilant in pursuing banks over their loan practices have received funds to hire new civil prosecutors.
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RBS to slash U.S. mortgage business

Ben Lane
The original report, from the Financial Times and followed up by Reuters, said that the British bank will eliminate hundreds of jobs over the next two years “as part of the an effort to reduce its assets ahead of new rules set out by the U.S. Federal Reserve.”
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Freddie: 3 areas housing fails to execute

“What we expect to be happening isn’t happening”
Brena Swanson
The spring home buying season has yet to kick into high gear, forcing Freddie Mac to revise and lower its forecast in several areas on an annualized basis.
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JPMorgan Chase $280M MBS case gets preliminary court approval

Brena Swanson
JPMorgan Chase won preliminary court approval from a U.S. judge for its agreement to pay $280 million to resolve claims tied to $36.8 billion in mortgage securities issued in 2006 and 2007
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FOMC: Taper continues its baby steps

Fed tapers $10 billion
Brena Swanson
The Federal Open Market Committee will continue to taper, reducing its bond purchases by another $10 billion, according the committee's latest March meeting minutes.
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Fannie, Freddie, FHFA settle MBS lawsuit with BofA

Provides aggregate payment of $9 billion by BofA
Brena Swanson
Fannie Mae, Freddie Mac and the Federal Housing Finance Agency reached an agreement with Bank of America to settle claims associated with non-agency mortgage-related securities from 2005 to 2007.
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Report: BofA, Goldman could pay $16 billion over MBS claims

Another two big banks up next to settle with the FHFA?
Brena Swanson
If the way settlements are headed continues, an additional $16 billion in penalties will be paid by banks, including Bank of America and Goldman Sachs over mortgage-backed securities sold to Fannie Mae and Freddie Mac.
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Good heavens! REO-to-rentals trying to turn a profit?

NYT: This new asset class thing is new and therefore scary or something
Trey Garrison
Having just discovered REO-to-rental as an asset class, the New York Times wants you to know it is not really in favor of this concept. Therefore, it's exactly like what caused the financial crisis.
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