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Stock Market & Financial Investment News

News Breaks
March 24, 2014
06:03 EDTCS, FNMA, 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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August 20, 2014
09:03 EDTFMCC, FNMASpread of unrest beyond Ferguson would be positive for GSEs, says Rafferty
Rafferty Capital's Dick Bove indicates that he believes that if the unrest in Ferguson spreads, Congress would increase housing subsidies, benefiting the GSEs, Fannie Mae (FNMA) and Freddie Mac (FMCC).
August 17, 2014
13:30 EDTCSCredit Suisse played role in Banco Espírito Santo demise, WSJ says
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August 15, 2014
07:44 EDTFMCC, FNMAAckman sues government over Fannie, Freddie, Reuters reports
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August 7, 2014
08:22 EDTFMCCFreddie Mac repeats recent earnings not sustainable over long term
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08:21 EDTFMCCFreddie Mac reports Q2 net income $1.4B vs. $4.0B in Q1
Reports Q2 comprehensive income $1.9B, compared to $4.5B in Q1. Q2 financial results were primarily driven by credit cycle recovery items, including lower income from legal settlements on private-label securities of $0.4B versus $4.5B in Q1 and a shift to credit provision income of $0.6B from credit provision expense of $0.1B in Q1. Delinquency rates remained below industry benchmarks, with a single-family serious delinquency rate of 2.07% compared to 2.79% at June 30, 2013 and a multifamily delinquency rate of 0.02% in Q2.
07:34 EDTFNMAFannie Mae reports Q2 net income of $3.7B, comprehensive income $3.7B
Reports Q2 revenue $5.29B, one estimate $4.7B; Reports Q2 positive net worth of $6.1B, and expects to pay $3.7B to Treasury in September as a dividend on the senior preferred stock.
August 6, 2014
08:20 EDTCSFed, FDIC tell big banks to revise 'living will' plans
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