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Stock Market & Financial Investment News

News Breaks
July 10, 2014
17:08 EDTRDN, FMCC, MTG, FNMAMortgage insurers trading lower after FHFA proposes tighter capital rules
The Federal Housing Finance Agency, or FHFA, is seeking input on draft requirements that would apply to private mortgage insurance companies that insure mortgage loans owned or guaranteed by Fannie Mae (FNMA) and Freddie Mac (FMCC). These requirements would apply only to private mortgage insurers that are currently approved to do business with Fannie Mae or Freddie Mac and those seeking approval in the future. MGIC Investment (MTG) is down 5.3% in after-hours trading and Radian Group (RDN) is down 3.78% in after-hours trading. Reference Link
News For MTG;RDN;FNMA;FMCC From The Last 14 Days
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March 30, 2015
09:07 EDTRDNClayton acquires Red Bell Real Estate and Main Street Valuation
Clayton Holdings, a wholly-owned subsidiary of Radian Group, announced that it has acquired Red Bell Real Estate, Salt Lake City, and its sister company, Main Street Valuation. Red Bell will continue to operate under its current brand and remain in Salt Lake City, Clayton said. Jeffrey Jonas, Red Bell's co-founder, and his senior management team are also staying in place. No other terms of the transaction were announced.
March 24, 2015
07:19 EDTFMCC, FNMAOcwen 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 18, 2015
11:36 EDTFMCCOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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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
March 17, 2015
13:10 EDTFNMAJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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08:26 EDTFMCC, FNMAFreddie 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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