Archive for September, 2013


Citigroup to Pay $395 Million to Settle Freddie Mac Claims

WASHINGTON — Citigroup has agreed to pay $395 million to the government-controlled mortgage finance company Freddie Mac to settle claims on home loans it had sold to it. The agreement, announced on Wednesday, involves 3.7 million mortgages that were sold from 2000 to 2012. Freddie and its bigger sibling, Fannie Mae, pressed Citigroup and other […]

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US pending home sales fall for 3rd straight month

by The Associated Press Published: September 26, 2013 Tags: Commerce Department, contracts, homes, housing market, index, National Association of Realtors, pending home sales 1:14 pm Thu, September 26, 2013 Fewer Americans signed contracts to buy U.S. homes in August, the third straight decline. The drop could mean that higher mortgage rates are starting to deter […]

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Citigroup to pay Freddie Mac $395 million settlement

Financing the payment with its existing mortgage repurchase reserves, US banking giant Citigroup is to pay Freddie Mac $395 million to settle claims of potential flaws in the millions of mortages it sold to Freddie. PHOTOS The Citigroup skyscraper building in Canary Wharf in London. It announced an agreement on Wednesday to pay Freddie Mac […]

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Pending Home Sales Dipped in August

WASHINGTON, DC Pending home sales slowed in August, with tight inventory conditions, higher interest rates, rising home prices and continuing restrictive mortgage credit impacting the market, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, eased 1.6 percent to 107.7 in August from a downwardly […]

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Fannie Mae launches $4 bln 5-year benchmark notes – IFR

Sept 27 | Fri Sep 27, 2013 9:33am EDT Sept 27 (Reuters) – Fannie Mae, the largest U.S. home funding source, on Friday launched its $4 billion new five-year benchmark note sale, said IFR, a Thomson Reuters service. The notes due Nov. 27, 2018, were launched at 30 basis points over comparable Treasuries, and are […]

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WHAT SHOULD BE DONE WITH FANNIE MAE AND FREDDIE MAC? – U

We should preserve and ensure secondary mortgage market financing. Government guarantees are needed to provide the capital to fund and ensure a wide range of safe, reliable mortgage products for creditworthy consumers. Without the federal government offering a guarantee of some mortgage instruments, affordable financing will not be consistently available. For example, FHA’s single-family mortgage […]

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Fannie Mae sells $4 bln of new 5-year notes – IFR

Sept 27 | Fri Sep 27, 2013 9:56am EDT Sept 27 (Reuters) – Fannie Mae, the largest home funding company, on Friday sold $4 billion of new five-year benchmark notes, said IFR, a Thomson Reuters service The 1.625 percent notes, due Nov. 27, 2018, were priced at 99.617 to yield 1.703 percent, or 30 basis […]

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What should be done with Fannie, Freddie?

The reform or replacement of Fannie Mae and Freddie Mac has yet to be approved by Congress. What do you think should be done with these government sponsored enterprises that oversee the secondary mortgage market? Robert Vallera — Gerald McClard / Union-Tribune staff •Robert Vallera, senior vice president of Voit Real Estate Services in San […]

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What’s The Future for Freddie Mac And Fannie Mae? A Small Finance Company …

Both have been recovering well over the past five years, Fannie posting a net income of $17.2 billion in 2012 and Freddie netting $10.8 billion over the same period. Importantly for the taxpayer, they have begun to aggressively pay back the $200 billion capital investment they received from the U.S. Treasury.   Now that the […]

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Fannie Mae to fix glitch that rejected borrowers

(MoneyWatch) For aspiring homeowners, it’s a little fix that can make a big difference. Fannie Mae this November will change its underwriting software so it no longer rejects qualified loan applicants who had previously sold their homes through a so-called short sale. The mortgage finance company’s system instead treated these prospective borrowers as if they […]

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