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Stock Market & Financial Investment News

News Breaks
March 24, 2014
06:03 EDTFNMA, CS, FMCCCredit Suisse in $885M settlement with FHFA
The Federal Housing Finance Agency, as conservator of Fannie Mae (FNMA) and Freddie Mac (FMCC), on Friday announced it reached a settlement with Credit Suisse (CS), related companies and specifically named individuals for $885M. The settlement resolves all claims in the lawsuit FHFA v. Credit Suisse, et al. as well as all claims against the Credit Suisse defendant in FHFA v. Ally Financial Inc., et al. alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Under the terms of the agreement, Credit Suisse will pay approximately $234M to Fannie Mae and approximately $651M to Freddie Mac and certain claims against Credit Suisse related to the securities involved will be released. This is the ninth settlement FHFA has announced in relation to the 18 PLS lawsuits the agency filed in 2011.
News For CS;FNMA;FMCC From The Last 14 Days
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April 17, 2015
16:40 EDTFMCC, FNMAEssent Group says well positioned under PMIERs
Essent Group (ESNT) reported that the Federal Housing Finance Agency publicly released the final Private Mortgage Insurer Eligibility Requirements. The PMIERs represent the standards by which private mortgage insurers are eligible to provide mortgage insurance on loans owned or guaranteed by Fannie Mae (FNMA) and Freddie Mac (FMCC), and are designed to ensure that approved mortgage insurers maintain sufficient, high-quality assets to pay claims in a stressful environment. As of March 31, Essent had sufficient assets in its insurance companies to meet the total risk-based required asset amount of the final PMIERs as published. “We have been very supportive of the risk-based capital framework underlying the PMIERs and strongly believe that sound standards which are transparent and consistently enforced strengthen our industry,” said Mark Casale, Chairman and CEO. “Now that they are final, the PMIERs will serve as an important set of national standards that give industry counterparties more transparency into the claims paying capacity of private mortgage insurance companies, including Essent.” “Based in part on Essent’s strong capital levels and the exceptional credit quality of our portfolio,” Casale added, “we believe that Essent is well positioned under the PMIERs to continue to serve the growing demand for private mortgage insurance.”
16:16 EDTFMCCFreddie Mac says revised eligibility standards to promote counterparty strength
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April 15, 2015
10:19 EDTCSOptions with decreasing implied volatility
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06:41 EDTCSECB authorizes new emergency funding for Greek banks, Reuters reports
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April 12, 2015
12:59 EDTCSJulius Baer CEO says no merger talks with Credit Suisse, Reuters reports
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April 8, 2015
07:24 EDTCSNeurotechnology Industry Organization to hold a conference
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April 7, 2015
07:21 EDTFMCC, FNMAThe Cato Institute holds a discussion
Peter J. Wallison, author of "Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again", and John C. Weicher, Center for Housing & Financial Markets, examine and debate causes and consequences of what caused the 2008 financial crisis in a discussion being held in Washington, D.C. on April 7 at 12 pm. Webcast Link

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