Archive for April, 2013


Fannie Mae TBAs rally in the week ending 4/26

Mortgage backed securities are the starting point for all mortgage market pricing, and are the investment of choice for mortgage REITs When the Federal Reserve talks about buying mortgage backed securities, it is referring to the To-Be-Announced (TBA) market. The TBA market allows loan originators to take individual loans and turn them into a homogeneous […]

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Judge questions fraud statute's use against Bank of America

By Nate Raymond NEW YORK (Reuters) – A Manhattan judge indicated Monday he was “troubled” by how the U.S. government applied a rarely used law in a suit against Bank of America Corp over the sale of toxic mortgages to Fannie Mae and Freddie Mac . The hearing before U.S. District Judge Jed Rakoff marked […]

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Higher revenue, lower spending might mean debt limit breather

And that would mean more time for President Obama and Congress to come up with an agreement to raise the $16.4 trillion debt ceiling. Earlier this year, Congress agreed to suspend the debt limit through May 18 — and raise it on that date to account for any borrowing done in the meantime. But once the […]

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Fannie Freddie Preferred Rally Takes a Breather

NEW YORK (TheStreet) — Fannie Mae (FNMA) and Freddie Mac (FMCC) preferred shares opened a tad lower Tuesday, despite fresh reports of hedge funds involved in the trade. The Freddie Mac “Z” shares (FMCKJ), one of the more widely traded preferred issues, were down 2.46% to $4.75 in early trading Tuesday, close to 20% of […]

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NAGLREP Members to Meet in Washington DC May 15th for REALTOR Meeting

by Bambi Weavil (Out Impact on Facebook, Out Impact on Twitter) NAGLREP, the National Association of Gay Lesbian Real Estate Professionals will host their midyear meeting May 15th 2013 from 4-5pm at the Washington DC Omni Shoreham Hotel in the Calvert Room. Immediately following the meeting, NAGLREP will host a complimentary cocktail reception from 6-8pm on the roof […]

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Arkansas Business: New CEO of Ark. Realtors Association

<!– –> Tweet – A A A + <!– –> LITTLE ROCK, Ark. (Arkansas Business) — Encouraging economic reports sent stock prices higher on Wall Street on Monday. Reports out yesterday showed wages and spending rose in the U.S. last month. Also: pending home sales hit a three-year high. The number of Americans who signed […]

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Paulson Leads Hedge-Fund Push to Privatize Fannie

Hedge funds including Paulson Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae (FNMA) and Freddie Mac (FMCC) as investors buy up preferred stock that has long been considered worthless, according to people with knowledge of the discussions. The improving finances of the two government-owned mortgage companies have kindled hopes among shareholders […]

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Mortgage Reform Likely to Pass House in ’13, Garrett Says

The U.S. House of Representatives is likely to pass a bill this year to reduce the influence of the government-backed Federal Housing Administration, Fannie Mae and Freddie Mac, Representative Scott Garrett said today. Government-backed mortgages have accounted for more than 90 percent of U.S. housing financing since 2008, when the private mortgage market dried up. […]

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Freddie Mac says to sell $2.5 billion bills April 29

April 29 | Mon Apr 29, 2013 8:50am EDT April 29 (Reuters) – Freddie Mac, the No. 2 U.S. home funding company, said it will sell $2.5 billion of reference bills on Monday. Freddie Mac said it plans to sell $500 million of one-month bills due May 28, 2013, $1 billion of three-month bills due […]

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Paulson Leads Hedge-Fund Lobby Push to Privatize Fannie

Hedge funds including Paulson Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae (FNMA) and Freddie Mac (FMCC) as investors buy up preferred stock that has long been considered worthless, according to people with knowledge of the discussions. The improving finances of the two government-owned mortgage companies have kindled hopes among shareholders […]

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