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Stock Market & Financial Investment News

News Breaks
June 25, 2014
07:16 EDTFNMA, FMCCFannie, Freddie encouraged to sue regarding over-costly insurance, Reuters says
A report from the Federal Housing Finance Agency said that a U.S. housing regulator should consider directing government-controlled mortgage finance groups Fannie Mae (FNMA) and Freddie Mac (FMCC) to sue firms that sold them high-priced insurance, according to Reuters, citing the report. The report said that pricey insurance might have cost the companies close to $158M in 2012 alone. Reference Link
News For FNMA;FMCC From The Last 14 Days
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July 30, 2014
13:44 EDTFMCC, FNMABank of America division ordered to pay $1.3B over mortgages, Bloomberg reports
Bank of America's (BAC) Countrywide division has been ordered to pay $1.3B in penalties for defective mortgage loans it sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) during the 2008 financial crisis, Bloomberg reported. The fine is just over half the amount the government had requested, Bloomberg added. Reference Link
July 27, 2014
16:14 EDTFMCC, FNMAGoldman close to settling FHFA suit on faulty mortgage claims, Bloomberg says
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10:45 EDTFMCC, FNMAFannie, Freddie prefered, common holders could still be wiped out, Barron's says
Fannie Mae (FNMA) and Freddie Mac's (FMCC) preferred and common shareholders could still get wiped out despite recent gains, Barron's argues in a follow up article. Reference Link
July 17, 2014
18:41 EDTFNMAFannie Mae increases yields on risk-sharing debt issue, WSJ reports
Fannie Mae increased yields on its biggest issue of debt that offsets its risks of guaranteeing mortgages, The Wall Stree Journal reports. Reference Link
07:13 EDTFMCC, FNMAWatchdog says Fannie, Freddie making riskier agreements, Reuters says
The Federal Housing Finance Agency Office of Inspector General said in a report that Fannie Mae (FNMA) and Freddie Mac (FMCC) are engaging in riskier agreements as they increasingly buy mortgages from smaller lenders, according to Reuters, citing comments from the watchdog. Reference Link

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