New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
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

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use