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Stock Market & Financial Investment News

News Breaks
February 28, 2014
06:25 EDTFMCC, FHNFirst Horizon enters definitive resolution agreement with Freddie Mac
First Horizon National (FHN) announced last night that it has entered into a definitive resolution agreement with the Federal Home Loan Mortgage Corp. (FMCC) regarding the loan repurchase process. The agreement with Freddie Mac follows an agreement with Fannie Mae that First Horizon entered into in Q4. First Horizon said the developments, along with other adjustments, will cause it to change its previously-reported consolidated net income available to common shareholders for the year ended December 31, 2013 by an insignificant amount. Specifically, First Horizon will report $23.8M, or 10c per common share.
News For FHN;FMCC From The Last 14 Days
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January 28, 2015
14:00 EDTFMCCU.S. denied motion to stay Fannie Mae, Freddie Mac suits, WSJ reports
A judge in a federal claims court denied the U.S. government’s motion to stay proceedings in lawsuits brought by a group of Wall Street investors over the treatment of Fannie Mae (FNMA) and Freddie Mac (FMCC), according to The Wall Street Journal, citing two people familiar with the decision. The U.S. asked that those suits be put on hold pending the appeal of a decision by a D.C. district court that previously dismissed a similar group of cases, the report noted. Reference Link
07:32 EDTFMCCRegulator defends Fannie and Freddie 3% downpayment mortgages, LA Times says
Mortgage regulator Melvin Watt stated Fannie Mae (FNMA) and Freddie Mac's (FMCC) new 3% downpayment mortages are just as safe as loans with 10% downpayment, reports the LA Times, citing a hearing by the House Financial Services Committee. Watt, director of the Federal Housing Finance Agency, said the mortgage giants are combining low downpayments with "compensating factors" such as strong credit requirements and private mortgage insurance. Fannie's program began in December and Freddie's begins in March. Reference Link
January 23, 2015
07:03 EDTFHNFirst Horizon reports Q4 EPS 20c, consensus 17c
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January 22, 2015
15:32 EDTFHNNotable companies reporting before tomorrow's open
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January 21, 2015
16:16 EDTFHNFirst Horizon raises dividend 20% to 6c per share
First Horizon National board has approved payment of a quarterly cash dividend on its common stock of 6c per share. This represents a 20% increase over the 5c per share quarterly cash dividend paid for the last two years. The increase raises the regular annual common dividend rate from 20c per share to 24c per share. The dividend is payable on April 1, to the common shareholders of record on March 13.

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