Items Tagged with 'Office of Federal Housing Enterprise Oversight'

ARTICLES

  • The behind-the-scenes push to get rid of Edward DeMarco

    A couple weeks ago I was having a beverage with a former comrade from the trenches of mortgage research (He's now a big money manager). My comrade took me to task for criticizing outgoing Federal Housing Finance Agency Acting Director Edward DeMarco's performance at a September congressional hearing on the GSEs. What did I expect? he asked. Congressional Banking Committee leadership had just sandbagged DeMarco for courageously going after the banks that issued the private-label mortgage securities rotting in Fannie and Freddie's portfolios.
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  • Lockhart to Leave FHFA Soon

    [Update 2: adds Lockhart's statement on his resignation, Williams' statement on DeMarco's appointment.] Federal Housing Finance Agency director James Lockhart said Thursday he will leave his post as head of the agency.
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  • Conforming Home Prices Off 5.9 Percent: FHFA

    The good news? If you hold a conforming mortgage, the relative loss of equity compared to that befalling other, less fortunate souls in the U.S. housing market has been far less painful. According to the Federal Housing Finance Agency's price index, which tracks purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae [stock FNM][/stock] or Freddie Mac [stock FRE][/stock], home prices were off 5.9 percent from year-ago levels during August.
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  • Upheaval Continues at Fannie Mae, Freddie Mac

    Both Freddie Mac [[ FNM]] and Fannie Mae [stock FNM][/stock] disclosed Monday morning that they have received grand jury subpoenas from federal prosecutors, as well as notice of an investigation by the Securities and Exchange Commission, according to published reports.
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  • U.S. Home Prices Continue to Tumble: OFHEO

    As might be expected, July brought a continued decline in home prices nationwide -- average prices fell 0.6 percent compared to one month earlier on a seasonally-adjusted basis, and 5.3 percent from average prices one year ago, according to data released Tuesday by the Office of Federal Housing Enterprise Oversight. (Don't worry: we were confused too, given that OFHEO has technically been replaced by the Federal Housing Finance Agency; but the release was, in fact, put out by the OFHEO).
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  • OFHEO: Record Annual Home Price Decline in Q2

    Buttressing similar directional findings released Tuesday by Standard & Poor's, the Office of Federal Housing Enterprise Oversight -- still releasing data under that name, despite new legislation creating a new regulating entity for both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] -- said that its index of conforming home purchases found a 1.4 percent drop in home prices during the second quarter. The quarterly drop compares to a drop of 1.7 percent during Q1.
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  • A Firestorm for Freddie

    One day before mortgage finance giant Freddie Mac [stock FRE][/stock] is scheduled to report second quarter earnings, a Tuesday report at the New York Times has managed to stir up the latest controversy surrounding the GSE, suggesting that CEO Richard Syron ignored advice from internal advisors regarding financing risky loans.
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