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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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July 31, 2015
16:10 EDTFMCCFreddie Mac further reduces seriously delinquent loans from portfolio
Freddie Mac announced it sold via auction 3,577 deeply delinquent non-performing loans from its mortgage investment portfolio on July 28th, with an aggregate unpaid principal balance of $591M. The transaction is expected to settle in September, 2015 and the sale is part of Freddie Mac's Standard Pool Offerings. These loans have been delinquent for approximately three years, on average. Given the deep delinquency status of the loans, the borrowers have likely been evaluated previously for or are already in various stages of loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure. Mortgages that were previously modified and subsequently became delinquent comprise approximately 28% of the aggregate pool balance.
July 22, 2015
10:15 EDTMTGOptions with decreasing implied volatility
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07:09 EDTRDNRadian reports Q2 adjusted EPS 40c, consensus 35c
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July 21, 2015
10:24 EDTMTGOptions with decreasing implied volatility
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09:07 EDTFNMAEllie Mae, Fannie Mae expand strategic partnership
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