Fannie Mae and Freddie Mac mortgage securities tumbled, with prices for certain debt declining the most relative to U.S. Treasuries over two days since February on concern that refinancing will accelerate after the Federal Reserve said it would buy more government notes.
Fannie Mae’s 30-year fixed-rate securities with 6 percent coupons fell 0.25 cent on the [...]
Posts Tagged ‘financial market’
Fannie Mortgage Bonds Drop Most Since February on Refinancing
August 13th, 2010 by Mortgage Writer
Tags: borrowers, fannie mae, federal reserve, financial market, foreclosures, Freddie Mac, home loans, housing market, mortgage bonds, mortgage securities
more...Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
July 21st, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 [...]
Tags: bank of america, economists, fannie mae, Federal Housing, financial market, Freddie Mac, housing market, investors, loan, money, mortgage bonds, mortgage securities, subprime mortgages, tax credit, treasurys, wall street
Mortgage Rates Lowest in Decades Yet Sales Plummet
July 12th, 2010 by Mortgage Writer
Record breaking mortgage rates are not enough to spark the US real estate market..
Freddie Mac announced last week that the average thirty year fixed mortgage rate is down to 4.57 percent, but that was not enough to entice Americans into buying homes.
April marked the end of the federal tax break incentive and sales were greatly [...]
Tags: economic recovery, federal reserve, financial market, Freddie Mac, housing market, interest rates, money, mortgage lending, mortgage loans, mortgage rates, real estate, US Economy
Mortgage delinquencies fall but foreclosures up sharply
July 1st, 2010 by Mortgage Writer
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Three years have passed since the mortgage debacle made most sub-prime and nontraditional loans unavailable, and most loans since have been “plain vanilla” fixed-rate mortgages to prime-credit borrowers. The [...]
Tags: commerce department, financial market, foreclosures, home foreclosures, homeowners, housing market, loan modifications, Mortgage Bankers Association, mortgage payments, prime loans, tax credit
Banks Return to Commercial Mortgage Bonds
June 30th, 2010 by Mortgage Writer
Once dominant, and then dormant, commercial real estate loans are beginning to show signs of life on the trading floor after a two-year slump, Jotham Sederstrom reports in The New York Times.
Attracted by more conservative underwriting and the perceived bottoming-out of property values, banks like J. P. Morgan Chase and the Royal Bank of Scotland [...]
Tags: borrowers, commercial real estate, financial market, investment, jpmorgan, mortgage backed securities, real estate loans, stock markets, wells fargo
Record low mortgage rates spur high interest in refinancing, sales
June 27th, 2010 by Mortgage Writer
Interest rates are falling to hitherto-unseen lows, thanks to a persistently volatile stock market and the ongoing debt crisis in Europe.
In fact, rates fell last week to their lowest level on record, fueling consumer incentives to lock in low payments for home purchases and refinanced loans.
The average rate for 30-year fixed loans sank to 4.69 [...]
Tags: debt crisis, financial market, Freddie Mac, housing market, interest rates, mortgage rates, stock markets, unemployment
Goldman faces second investigation as mortgage assets leave bitter taste
June 11th, 2010 by Mortgage Writer
Securities and Exchange Commission investigators are focusing on a second mortgage-backed asset created by Goldman Sachs as they attempt to bolster their $1 billion fraud case against the embattled bank.
Hudson Mezzanine, a synthetic collateralised debt obligation (CDO), was structured by Goldman in late 2006, shortly before the bank made and sold Abacus, the now-notorious CDO [...]
Tags: business, credit, financial market, Goldman Sachs, investors, mortgage backed securities, mortgage investors, mortgage market, wall street
Fannie Mae asks for more federal aid after Q1 loss
May 10th, 2010 by Mortgage Writer
Fannie Mae (FNM.N), the largest U.S. residential mortgage provider, on Monday reported a net loss of $13.1 billion in the first quarter and said it tapped the Treasury for additional aid of $15.3 billion.
Its regulator, the Federal Housing Finance Agency, has asked for $8.4 billion more before June 30 from the Treasury for Fannie Mae [...]
Tags: fannie mae, Federal Housing, financial crisis, financial market, foreclosure, housing market, lender, mortgage, treasury, US Economy
UBS-US deal failure could lead to more tax evasion lawsuits
March 23rd, 2010 by Mortgage Writer
UBS and other Swiss banks could be hit by more tax evasion lawsuits if a landmark settlement between UBS and the United States falls through, Switzerland’s banking regulator warned Tuesday.
“Should no agreement be reached, there is a risk of further proceedings being instigated against not only UBS but other financial institutions as well,” said Urs [...]
Tags: financial institutions, financial market, swiss banks, switzerland, tax evasion, ubs
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