Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

17% of homes with a mortgage seriously underwater

Share of underwaters continues slow decline

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
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Items Tagged with 'Citigroup'

ARTICLES

Is Federal housing money supporting big bank balance sheets?

FHLB lending surges to Bank of America, Citi, JP Morgan and Wells
April 16, 2014
Top banks withdrew a surge in secured loans, known as advances, meant to promote housing finance, reversing a decline that bottomed at $381 billion in early 2012. Instead, it may be used to meet international banking requirements.
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Citi quiets critics, profits despite challenging quarter

Beats expectations and basically shocks market
April 14, 2014
Most analysts expected Citi to fail this quarter. Those same analysts were wrong. Despite failing a Federal stress test and a huge settlement with mortgage bond investors, the big bank still managed to pull a profit.
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Head of Citigroup residential mortgages gets big promotion

Jane Fraser named CEO of U.S. Consumer & Commercial Banking at Citigroup
March 6, 2014
Citigroup announced that two long-time executives are retiring from the company, with Jane Fraser, who has been in charge of residential mortgage lending, getting an expanded role as CEO of U.S. Consumer & Commercial Banking.
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Bank of America stock nears 4-year high

Too-big-to-fail stocks rally on HW 30
March 5, 2014
Too-big-to-fail banks are rising above pending stress test results and managed to reach near-record highs on the stock market Tuesday while other top indices remained flat.
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Big banks buy $14 billion in Ginnie Mae bonds

Other bond purchases flat in fourth quarter
February 21, 2014
Wells Fargo had the largest increase in Fannie Mae and Freddie Mac MBS holdings, adding $6.1 billion, while Bank of America and Citigroup reduced their holdings by $4.8 billion and $2 billion, respectively.
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Citigroup launches RMBS

Loans pulled from now-defunct Citigroup Mortgage Securities
February 19, 2014
Third-party due diligence, including pay history and servicing comment review, was conducted on 100% of the portfolio. Highest tranche awarded double-A.
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Fed continues to worry about banks that could crash the system

Releases info on sound risk-control practices
January 24, 2014
Too big to fail worries are not over at the Federal Reserve. In fact, they have more pointers for the mega banks on how to prepare for future liquidity crunches.
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Monday Morning Cup of Coffee: Deutsche Bank posts $1.6B loss

Bank the latest to suffer from mortgage-related litigation
January 20, 2014
Deutsche Bank made a surprise announcement Sunday night, reporting a fourth-quarter loss of €1.2B ($1.6B), when analysts were expecting a profit of almost €600 million ($800 million).
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Collapse in refis drive Citi earnings miss

CEO says 21% earnings increase isn't enough
January 16, 2014
Citigroup revenue of $17.9 billion in the fourth quarter of 2013 was 2% below the prior year period, reflecting lower revenue streams primarily due to lower mortgage refinancing activity, the bank said.
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Citi sells Fannie Mae MSRs ... to Fannie Mae

Effort marks bank's move to shed potential liability over servicing practices
January 15, 2014
Fannie Mae has purchased mortgage servicing rights on about 64,000 of its own loans from Citigroup (C), as the nation's 3rd largest lender looks to shed future liabilities tied to its servicing practices.
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