New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 1, 2012
09:16 EDTMTG, FMCCMGIC reaches preliminary settlement of dispute with Freddie Mac
MGIC Investment Corporation (MTG) announced that Freddie Mac (FMCC) has confirmed that its condition that agreement be reached on substantially all terms of a settlement of the pool insurance dispute between MTG's Mortgage Guaranty Insurance Corporation subsidiary and Freddie Mac has been met for purposes of continuing toward resolution. The principal economic terms concerning the amount of payments in settlement of MGIC's obligations under the policies at issue have been agreed upon. The majority of these payments to Freddie Mac will be made over a period of four years after the signing of the definitive agreement, with the remainder to be paid at signing. However, MGIC and Freddie Mac still must agree to certain issues that are significant to final resolution. All terms of the settlement will be included in a definitive settlement agreement, which MGIC, Freddie Mac and FHFA are negotiating. This agreement will be subject to approval by the Boards of Directors of MGIC and Freddie Mac and by FHFA. The communications of the parties to third persons about the pool insurance dispute remain subject to a confidentiality agreement with Freddie Mac. As a result, MTG can make no further comment about the terms of the proposed settlement. If MGIC's and Freddie Mac's Boards of Directors and FHFA approve a final settlement agreement, any definitive settlement agreement would only be signed concurrently with the satisfaction of the other conditions in the Freddie Mac Letter. These are: by December 1, 2012, MTG must contribute $100M to MGIC, and by December 31, 2012, the Office of the Commissioner of Insurance of Wisconsin must provide confirmation to Freddie Mac of the availability of the capital of MGIC Indemnity Corporation, a subsidiary of MGIC, to pay claims on MGIC policies.
News For MTG;FMCC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 22, 2015
10:15 EDTMTGOptions with decreasing implied volatility
Subscribe for More Information
July 21, 2015
10:24 EDTMTGOptions with decreasing implied volatility
Subscribe for More Information
July 20, 2015
10:13 EDTMTGOptions with decreasing implied volatility
Subscribe for More Information
July 17, 2015
12:37 EDTFMCCFreddie Mac to expand risk-sharing efforts, Bloomberg reports
Freddie Mac (FMCC) plans to expand its risk-sharing efforts designed to protect taxpayers and potentially prepare the U.S. home loan market for its future, Bloomberg reports, citing a person familiar with the matter. In a planned $300M offering of mortgage-backed securities managed by Credit Suisse (CS), the government-backed company is set to sell $22.5M of junior ranking bonds without guarantees, the report says. Freddie Mac intends to hold a call for investors next week to discuss the transaction, the report adds. Reference Link
July 16, 2015
07:19 EDTFMCCBipartisan Policy Center to hold a discussion on housing finance reform
With the seventh anniversary of government conservatorships of Freddie Mac and Fannie Mae approaching, Representatives Neugebauer and Delaney discuss the prospects for housing finance reform during the remainder of this session of Congress in a discussion being held in Washington, D.C. on July 16 at 1:30 pm. Webcast Link
07:09 EDTMTGMGIC Investment sees 2015 new insurance written to exceed 2014
Subscribe for More Information
07:08 EDTMTGMGIC Investment reports Q2 new insurance written $11.8B
Subscribe for More Information
07:07 EDTMTGMGIC Investment reports Q2 EPS 28c, consensus 23c
Subscribe for More Information
July 15, 2015
14:53 EDTMTGNotable companies reporting before tomorrow's open
Subscribe for More Information
08:46 EDTFMCCAckman calls Fannie, Freddie 'most interesting' stocks Pershing owns
Subscribe for More Information

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