Mortgage Investors Turn to State Courts for Relief
Tuesday, March 15th, 2011INVESTORS who lost billions on boatloads of faulty mortgage securities have had a hard time holding Wall Street accountable for selling the things in the first place.
Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
Tuesday, March 15th, 2011Fannie 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.
Geithner: U.S. Should Retain a Mortgage Backstop
Tuesday, March 15th, 2011Treasury Secretary Timothy Geithner said Sunday the government should retain “some type” of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.
Mortgage Bond Market Rocked By Prepayment Fears
Monday, March 14th, 2011Agency mortgage securities were sharply lower Thursday as rattled investors sold amid speculation the government would press Fannie Mae (FNMA) and Freddie Mac (FMCC) to refinance home loans to reduce principal balances–speculation Washington officials quickly denied.
Report Examines Private-Sector Lending in Housing Boom
Sunday, March 13th, 2011A new report by the regulator of Fannie Mae and Freddie Mac shows that mortgage securities packaged by Wall Street firms and mortgage banks have had substantially worse outcomes than securities backed by the two mortgage titans.
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