BofA reaches $16.65B settlement over "toxic waste" mortgages

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
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Items Tagged with 'FHFA'

ARTICLES

Urban Institute: There is an art to G-fee increases

3 conclusions behind rate hikes
Brena Swanson
As the Federal Housing Finance Agency continues to seek input on guarantee fees, according to the Urban Institute, the process might not be too easy to conquer.
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MBA’s Stevens: Single GSE bond is “critical”

New plan brings “unworkable fantasy” closer to reality
Ben Lane
"The move to a single security will enable the two GSEs to compete on a more level playing field, and this competition will be beneficial to both homebuyers and lenders,” David Stevens, president and CEO of the Mortgage Bankers Association, said.
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FHFA takes next step to single GSE bond

Plan would create common securitization for Fannie and Freddie
Ben Lane
The proposal calls for a “Single Security” that would encompass many of the features of the existing Fannie and Freddie securitization structure, which the FHFA said is necessary to “achieve maximum market liquidity.” The announcement today provided key details on what that bond may look like, but the FHFA did not provide a specific timeline for implementation.
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SIFMA says FHFA must raise g-fees but carefully

Must strike balance protecting GSE MBS, bringing in private capital
Trey Garrison
Slow, steady and measured is how the Securities Industry and Financial Markets Association thinks the Federal Housing Finance Agency should approach raising Freddie Mac and Fannie Mae guarantee fees.
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Freddie Mac income and revenue down

Decline driven by falling settlement income, derivative changes
Trey Garrison
Freddie Mac reported net income of $1.4 billion for the second quarter of 2014, compared to $4 billion for the first quarter of 2014, with the sharp drop driven primarily by lower income from legal settlements related to private-label securities.
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Monday Morning Cup of Coffee: BofA mortgage woes piling up

Nonbanks under the gun; Homebuyers getting older
Trey Garrison
Bank of America still trying to get unstuck from the mortgage bond tar, interest rates have a 5.3% target rate, and home price growth slows to 4.6% projected growth for 2014.
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FHLB Des Moines, FHLB Seattle in merger talks

Brings 12 FHLB down to 11
Brena Swanson
Currently, there are 12 Federal Home Loan Banks that could change soon, with a potential merger from the Federal Home Loan Bank of Des Moines and the Federal Home Loan Bank of Seattle.
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Did Treasury plan to shortchange Fannie, Freddie investors?

As more layers peel away, a pattern forms
Trey Garrison
A report on TheStreet.com Tuesday focusing on the potential for conflict of interest in Blackstone serving as an advisor to the U.S. Department of Treasury missed a much bigger story.
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FHFA extends G-fee input deadline

Seeks industry opinion on G-fee policy
Brena Swanson

The Federal Housing Finance Agency extended its deadline for accepting industry input on Fannie Mae and Freddie Mac guarantee fees to Sept. 8, allowing more time for public comment on G-fee policy and implementation regarding the optimum level of G-fees required to protect taxpayers.


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The real reason Fannie and Freddie don't do principal modifications

Looking out for your retirement
Brent Nyitray
Why is the government resisting principal mods? Because there is one big investor in MBS that the government is worried about – pension funds.
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