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Stock Market & Financial Investment News

News Breaks
March 3, 2014
05:34 EDTFMCC, FNMABerkowitz blasts Fannie, Freddie for ignoring shareholder rights, WSJ reports
Mutual-fund investor Bruce Berkowitz of Fairholme Funds has written letters to the boards of Fannie Mae (FNMA) and Freddie Mac (FMCC), calling out directors for not protecting the rights of shareholders, and increasing the stakes in his attempt let investors share in the spoils of the newly profitable mortgage-finance firms, reports the Wall Street Journal. Reference Link
News For FNMA;FMCC From The Last 14 Days
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July 31, 2015
16:10 EDTFMCCFreddie Mac further reduces seriously delinquent loans from portfolio
Freddie Mac announced it sold via auction 3,577 deeply delinquent non-performing loans from its mortgage investment portfolio on July 28th, with an aggregate unpaid principal balance of $591M. The transaction is expected to settle in September, 2015 and the sale is part of Freddie Mac's Standard Pool Offerings. These loans have been delinquent for approximately three years, on average. Given the deep delinquency status of the loans, the borrowers have likely been evaluated previously for or are already in various stages of loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure. Mortgages that were previously modified and subsequently became delinquent comprise approximately 28% of the aggregate pool balance.
July 21, 2015
09:07 EDTFNMAEllie Mae, Fannie Mae expand strategic partnership
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