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Stock Market & Financial Investment News

News Breaks
March 27, 2014
06:44 EDTFNMA, FMCCSenior Democrat to propose mortgage industry overhaul, NY Times says
The top Democratic member of the House Financial Services Committee, Maxine Waters, later today will propose a bill that would wind down Fannie Mae (FNMA) and Freddie Mac (FMCC), while making the mortgage lending system more like a public utility, according to The New York times. Under the bill, only a co-op of lenders could issue mortgage-backed securities guaranteed by the government, the newspaper stated. Waters' bill would require private investors to take the first 5% of losses, while a separate Senate bill would require private investors to take a 10% hit, the newspaper noted. Reference Link
News For FNMA;FMCC From The Last 14 Days
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October 24, 2014
18:52 EDTFNMAFannie Mae reaches shareholder lawsuit settlement for $170M, Reuters reports
Fannie Mae has settled a shareholder lawsuit for $170M, Reuters reports. The settlement will pay $123.8M to common stockholders and $46.2M to preferred stockholders between November 8, 2006, and September 5, 2008, Reuters added. The lawsuit accused Fannie Mae of defrauding its shareholders and pumping its stock by issuing false and misleading statements during the 2008 financial crisis. Reference Link
October 20, 2014
15:08 EDTFMCC, FNMAHousing regulator reveals plan to ease tight credit, NY Times says
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13:40 EDTFNMAFannie Mae appoints Brian Brooks general counsel
Fannie Mae announced it has appointed Brian P. Brooks as EVP, general counsel, and corporate secretary effective November 10. Brooks joins Fannie Mae from OneWest Bank where he was vice chairman and chief legal officer. Reference Link
October 19, 2014
16:17 EDTFMCC, FNMAFannie Mae, Freddie Mac near deal to loosen lending, WSJ says
Fannie Mae (FNMA), Freddie Mac (FMCC) together with mortgage lenders are near to an arrangement that would lower barriers and lending standards on home buyers with weak credit, says the Wall Street Journal. Reference Link
October 17, 2014
12:26 EDTFMCC, FNMAFannie Mae, Freddie Mac close to deal to boost mortgage lending, WSJ reports
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October 16, 2014
07:03 EDTFMCCThe FDIC to hold a symposium
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