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Stock Market & Financial Investment News

News Breaks
March 3, 2014
05:34 EDTFNMA, FMCCBerkowitz 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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January 28, 2015
14:00 EDTFMCC, FNMAU.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 EDTFMCC, FNMARegulator 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

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