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Stock Market & Financial Investment News

News Breaks
July 27, 2014
16:14 EDTGS, FMCC, FNMAGoldman close to settling FHFA suit on faulty mortgage claims, Bloomberg says
Goldman Sachs (GS) and the Federal Housing Finance Agency are close to settling the regulator's claims that the bank sold faulty mortgage-backed securities to Fannie Mae (FNMA) and Freddie Mac (FMCC), says Bloomberg. Goldman will likely pay between $800M and $1.25B to settle the clains, addded Bloomberg, citing sources. Reference Link
News For GS;FNMA;FMCC From The Last 14 Days
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March 27, 2015
09:37 EDTGSGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
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March 26, 2015
08:17 EDTGSSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
March 24, 2015
07:45 EDTGSMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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07:19 EDTFNMA, FMCCOcwen to sell additional $25B portfolio to Nationstar
Ocwen Financial (OCN) announced that its subsidiary, Ocwen Loan Servicing and Nationstar Mortgage, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings (NSM) have agreed in principle to the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 142,000 loans owned by Freddie Mac (FMCC) and Fannie Mae (FNMA) with a total principal balance of approximately $25B. Subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close before mid-year.
March 20, 2015
10:09 EDTGSAllstate enters accelerated share repurchase agreement with Goldman Sachs
Allstate (ALL) said in a filing that on March 19, the Registrant entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. (GS), to purchase $500M of its outstanding common stock. The majority of the shares to be repurchased under this agreement will be received by the Registrant at the agreementís inception. It is expected that Goldman will purchase the shares that it delivers under the agreement in the market within a timeframe not to exceed three months. The final purchase price per share and number of shares to be delivered by Goldman will be determined at the conclusion of the agreement and settlement will consist of the Registrant receiving shares based on the average of the daily volume weighted average prices of the Registrantís common stock during the period of Goldman purchases. If the Registrant is required to pay a settlement amount, the Registrant may elect to settle in cash or shares of its common stock. The agreement is part of the Registrantís repurchase program totaling $3B that was announced on February 4, 2015. All of the shares acquired by the Registrant under the agreement will be placed into its treasury.
March 19, 2015
11:53 EDTGSU.S. banks face headwinds in unloading oil loans, WSJ says
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06:42 EDTGSAllianz hedges stake in China Pacific Insurance, Reuters says
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06:06 EDTGSSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
11:36 EDTFMCCOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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07:27 EDTGSFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:22 EDTFMCC, FNMAFreddie Mac, Fannie Mae could need more bailouts, WSJ says
Freddie Mac (FMCC) and Fannie Mae (FNMA) might be at risk of needing additional bailouts, due to weak Q4 earnings, reports the Wall Street Journal, citing a watchdog. Reference Link
06:09 EDTGSGoldman Sachs prices 6M shares of specialty lending arm, WSJ reports
According to a source, late yesterday, Goldman Sachs priced 6M shares of Goldman Sachs BDC, its specialty lending arm, at $20 per share with the shares set to begin trading today, The Wall Street Journal reports. Shares of Goldman Sachs BDC will trade under the ticker symbol "GSBD." Reference Link
March 17, 2015
13:10 EDTFNMAJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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08:26 EDTFNMA, FMCCFreddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post says
Freddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link

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