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Stock Market & Financial Investment News

News Breaks
February 28, 2014
07:37 EDTSCGLY, FMCC, FNMASociete Generale paying $122M to settle FHFA mortgage lawsuit, WSJ reports
Societe Generale will pay $122M to settle a lawsuit brought by the Federal Housing Finance Agency that accused the bank of misleading Fannie Mae (FNMA) and Freddie Mac (FMCC) in the purchase of mortgage-backed securities, reports Reuters. Reference Link
News For SCGLY;FNMA;FMCC From The Last 14 Days
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August 4, 2015
08:32 EDTFMCCFreddie Mac reports Q2 comprehensive income $3.9B vs. $746M last year
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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 21, 2015
09:07 EDTFNMAEllie Mae, Fannie Mae expand strategic partnership
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