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Stock Market & Financial Investment News

News Breaks
July 10, 2014
17:08 EDTMTG, RDN, FNMA, FMCCMortgage 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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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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October 15, 2014
07:04 EDTMTGMGIC Investment reports Q3 net premiums written $222.9M
New insurance written in the third quarter was $10.4B. As of September 30, 2014, MGIC's primary insurance in force was $162.4B. fair value of MGIC Investment Corporation's investment portfolio, cash and cash equivalents was $4.9B at September 30, 2014.
07:03 EDTMTGMGIC Investment reports Q3 EPS 18c, consensus 10c
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October 10, 2014
08:07 EDTFNMA, FMCCFairholme Funds files notice of appeal of Fannie/Freddie court ruling
Fairholme Funds filed a notice of appeal in the U.S. Court of Appeals for the District of Columbia of a ruling by District Court Judge Royce Lamberth that dismissed lawsuits filed by Fairholme and other plaintiffs against the U.S. Government. The lawsuits relate to the Fannie Mae (FNMA) / Freddie Mac (FMCC) Preferred Stock Purchase Agreement and subsequent amendments. Fairholme issued the following statement via its legal counsel, Charles J. Cooper of Cooper & Kirk, PLLC: “Fairholme believes strongly that the Net Worth Sweep – imposed four years after the financial crisis – was not authorized by the Housing and Economic Recovery Act of 2008 and must be unwound. Fairholme also believes strongly that the Federal Housing Finance Agency has contractual and fiduciary duties to the preferred shareholders of Fannie Mae and Freddie Mac, and that these duties can and will be enforced.”
05:57 EDTFNMA, FMCCAckman added to Fannie, Freddie stakes, NY Post reports
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