Archive for July, 2012


FHFA Explores Fannie Mae, Freddie Mac Receivership Plan

The issue remains politically complex: Fannie and Freddie were taken over by the government during the 2008 crisis and forced to pay a preferred dividend to the U.S. Treasury each quarter. But as their portfolios deteriorated, Fannie and Freddie began bleeding cash and now owe the government around $190 billion, sparking outrage from taxpayers and […]

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Rep. Hansen Clarke Demands Fannie Mae Halt Evictions For 90 Days, Change Foreclosure Policy

UPDATE: July 24, 11:30 a.m. — Rep. Hansen Clarke has notified the Huffington Post that Fannie Mae is temporarily halting the eviction of Jennifer Britt. He said there will be no eviction proceedings Tuesday or Wednesday. The eviction had been scheduled for Tuesday, according to Clarke. Fannie Mae is currently reviewing the matter and will […]

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Freddie Mac Announces The Issuance Of A New Seven-year Reference Notes …

MCLEAN, Va., July 26, 2012 /PRNewswire/ — Freddie Mac (OTC: FMCC) announced today that it plans to issue a new seven-year USD Reference Notes® security, CUSIP number 3137EADK2, due on August 1, 2019.  The issue will be priced on Friday, July 27, 2012, and will settle on Monday, July 30, 2012, at benchmark size. The […]

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Freddie Mac Announces Tenth $1 Billion Multifamily Securities Offering This Year, K-019

MCLEAN, Va., July 23, 2012 /PRNewswire/ — Freddie Mac (FMCC) today announced a new offering of Structured Pass-Through Certificates (“K Certificates“), which are multifamily mortgage-backed securities.  The company expects to offer approximately $1.1 billion in K Certificates (“K-019 Certificates”), which are expected to price the week of July 23, 2012, and settle on or about […]

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Ohio county sues Fannie, Freddie over taxes

DAYTON, Ohio (AP) — County officials in southwest Ohio have filed a class action lawsuit against two mortgage giants they say owe millions in unpaid taxes. Montgomery County filed a federal lawsuit Wednesday that says Fannie Mae and Freddie Mac wrongfully claimed various exemptions to avoid paying transfer taxes to state counties. Transfer taxes are […]

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3 More Bullish Real Estate Charts

It defies all logic. Gloomy economic data continues to pour in, raising the specter of another recession. The Chicago Fed National Activity Index and the ISM Manufacturing Index are two of the latest to disappoint. Yet the most recent data out of the real estate market keeps surprising to the upside. Yes – the real […]

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Realtors are encouraged by the rise in housing production

Realtors welcomed recent news of a nationwide increase in housing production and rise in builder confidence. These are additional indicators that the market is improving, according to the Silicon Valley Association of Realtors. The National Association of Home Builders said recently released data showed nationwide housing production rose by 6.9 percent to a seasonally adjusted […]

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Realtors’ Association New Mexico conference set for Marriott Uptown

Clarke Steve Ginsberg Reporter- New Mexico Business Weekly Email Several hundred realtors from around the state will come to Albuquerque for the Realtors’ Association of New Mexico annual fall conference Sept. 12-14. The event will be held at the Marriott in Uptown. The opening keynote speaker is Leigh Brown, a top-producing Realtor from Charlotte, N.C. […]

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QM, QRM, Basel III: Mortgages for the Wealthy

Capital and mortgage financing rules being drafted in Washington and elsewhere raise the possibility that the United States will become increasingly split between affluent home owners and less affluent renters, because lenders will be constrained to stay within tight mortgage underwriting rules that many households won’t be able to penetrate. That’s the grim assessment of […]

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FHFA Nears Decision on Debt Forgiveness, and Tuesday: Case-Shiller House Prices

From Nick Timiraos at the WSJ: Data Show Fannie, Freddie Savings From Debt Forgiveness As the regulator for Fannie Mae and Freddie Mac nears its decision on whether to approve debt forgiveness for troubled borrowers, a new analysis by the regulator suggests that taxpayers could actually benefit from the move… In April, the agency said […]

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