Items Tagged with 'OFHEO'

ARTICLES

  • Bush Signs Sweeping Housing Bill into Law

    President Bush signed a massive housing and mortgage relief bill into law early Wednesday morning, the White House said, making official changes ranging from a $300 billion expansion of the underwriting authority of the Federal Housing Administration to a new regulator for twin mortgage finance giants Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock]. Click here for a complete overview of the legislation.
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  • Home Purchase Prices Fall At Record Pace; Refis Tell Another Story

    U.S. home prices fell in the first quarter of 2008 -- and at a record pace, too, if you look only at purchases and exclude refinancing activity. The Office of Federal Housing Enterprise and Oversight said Thursday morning that its seasonally-adjusted first quarter index for purchases dropped 1.7 percent from the fourth quarter of 2007, the steepest quarterly decline in the purchase-only index's 17-year history. Annually, purchase prices have fallen 3.1 percent between Q1 2007 and Q1 2008, OFHEO said -- also the largest annual price decline on record.
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  • OFHEO: Conforming Home Prices Fell 1.1 Percent in January

    Perhaps looking to compete with the Standard & Poor's/Case-Shiller home price indices, a new monthly index maintained by the Office of Federal Housing Enterprise Oversight was released Tuesday -- within hours of the Case-Shiller numbers -- which showed that home prices among conformining mortgages fell 1.1 percent nationally between December 2007 and January 2008. The monthly drop compares to a 0.6 percent national price drop one month earlier, the GSE regulator said.
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  • Fannie, Freddie Face "Severe" Capital Pressures, Say Analysts

    (Update 1: expanded discussion of losses and the effect on GSE purchases; adds discussion of debt securities and FHA) Both Fannie Mae and Freddie Mac face strong capital pressures, even as a Federal regulator has eased up on prior limitations in an effort to boost liquidity in the mortgage-led secondary markets. According to a report published this week by analysts at UBS Investment Research, however, fresh efforts to deliver more capital to the GSEs would seem likely to do little to enable either company to have the sort of impact regulators and policymakers might otherwise hope.
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  • OFHEO To Publish Monthly Housing Price Index

    The Office of Federal Housing Enterprise Oversight said yesterday that it will begin publishing a monthly housing price index, according to a report by Reuters. The news agency reported that Edward DeMarco, deputy director of OFHEO, told attendees at the New York Society of Security Analysts forum Thursday that the agency would move to move to a monthly reporting format beginning in March. OFHEO's HPI data has previously been published only on a quarterly basis.
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  • OHFEO Slams Cuomo; Says NY AG 'May Not Fully Understand' Issue

    The Office of Federal Housing Enterprise Oversight today released a letter that finds OFHEO director James Lockhart taking New York AG Andrew Cuomo to task for failing to involve OFHEO before issuing subpoenas to Fannie Mae and Freddie Mac over his widening appraisal fraud investigation. "Taking to task" might be too kind a characterization, actually.
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  • OFHEO Takes On S&P/Case-Shiller Indices

    In a report that manages to be a geeky advertisement for its own preferred measure of housing prices, the OFHEO last week released a report covering differences between its own HPI index and the popular S&P/Case-Shiller indices. The report claims that the HPI index values are a) geographically broader, b) include more states, c) include more complete data. Regarding HPI's use of more states:
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