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Items Tagged with 'repurchases'

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Flagstar posts big loss in shrinking mortgage market

CEO hopes 'to achieve profitability in any mortgage environment'
Jacob Gaffney
"During the quarter, we made the determination to significantly bolster our loan loss reserve estimates which results in an increase to the loss coverage period from approximately 12 months to 18 months," Flagstar CEO Sandro DiNello said.
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Inspector General: Fannie Mae should implement repurchase late fees

Failure to do so in the past cost taxpayers
Trey Garrison
Freddie Mac assesses late fees on aged outstanding repurchase demands, while Fannie Mae has no monetary penalties to encourage their resolution.
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Fifth Third sets aside $69 million to pay lawyers

Bank manages fourth-quarter profit in litigious circumstances
Jacob Gaffney
Depending on who you believe, the fourth quarter results at Fifth Third came in either as expected or beat expectations.
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