Morgan Stanley (MS) is planning to reduce its stake in the FrontPoint Partners hedge fund it bought four years ago, the Wall Street Journal reported. The move comes as rival Goldman Sachs (GS) considers spinning off, winding down or moving its proprietary trading desks, the paper said. The Volcker rule, named after former Fed chief Paul Volcker (right), limits the amount of money federally insured banks can invest in riskier structures such as hedge funds and private equity investments and in trading with their own funds.
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With the coronavirus continuing to reshape the face of the country and the economy, the biggest players in the mortgage business are moving to try to make it easier to lend. Last week, it was Fannie and Freddie. Now, it’s the FHA and VA’s turn.
HousingWire CEO Clayton Collins sat down with Association of Independent Mortgage Experts Chairman Anthony Casa to discuss some of the most pressing issues pertaining to the housing industry as the coronavirus that causes COVID-19 continues to create uncertainty within the market. HW+ Premium Content