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Stock Market & Financial Investment News

News Breaks
March 16, 2014
17:51 EDTFNMA, FMCCSens. Johnson and Crapo release housing finance reform text
The Senate Banking Committee announced in a press release on its website that Senate Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo released the legislative text of the bipartisan housing finance reform agreement that they announced last Tuesday. The announcement said in part: "Senate Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo released the legislative text of the bipartisan housing finance reform agreement that they announced last Tuesday. That announcement sparked enthusiasm from the White House, Senators, Members of Congress and key stakeholders recognizing the agreement as a positive step forward in reforming our housing finance system. Chairman Johnson and Ranking Member Crapo plan to hold a committee markup in the coming weeks. They took rare action in releasing the text over the weekend in an effort to balance the Committee Members’ interests in having adequate time to review the legislation while advancing housing finance reform in a timely manner." “Chairman Johnson and I have produced a comprehensive, bipartisan plan that winds down these too-big-to-fail entities, protects taxpayers by putting strong capital in a first-loss position, and provides broad access to mortgages for eligible borrowers,” said Ranking Member Crapo. “There is broad support to fix our flawed housing system, and today’s actions are a strong step toward ending the status quo.” The press release continued: "The housing market accounts for nearly twenty percent of the American economy, so it is critical that we have a strong and stable system that is built to last. The status quo in which Fannie Mae (FNMA) and Freddie Mac (FMCC) remain in conservatorship is not a viable option for our nation’s housing finance system." Reference Link
News For FNMA;FMCC From The Last 14 Days
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September 17, 2014
13:28 EDTFMCC, FNMAWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, “We’re tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
September 16, 2014
09:11 EDTFNMAFannie Mae prices $986M multifamily DUS REMIC under GeMS program
September 12, 2014
16:22 EDTFMCC, FNMAHSBC confirms settlement agreement with FHFA
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13:27 EDTFMCC, FNMAHSBC pays $600M to resolve FHFA mortgage bond allegations, WSJ says
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