Archive for February, 2014


The Zacks Analyst Blog Highlights: Bank of America, Fannie Mae, Freddie Mac, BB&T and Mallinckrodt

For Immediate Release   Chicago, IL – February 28, 2014 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Bank of America Corp. (BAC–Free Report), […]

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Freddie Mac posts $8.6 billion profit

WASHINGTON (AP) — Mortgage giant Freddie Mac posted net income of $8.6 billion for the October through December period, its ninth straight profitable quarter. Earnings were boosted by the continued rise in home prices, which reduced the amounts the company had to set aside to cover losses on mortgages. Freddie’s fourth-quarter profit reported Thursday nearly […]

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Fan, Fred and the Fed, cutting America’s debt

Washington may have discovered a new way to shrink the $17 trillion national debt. But you won’t hear anybody crowing about it. Fannie Mae (FNMA) and Freddie Mac (FMCC) — the once-doomed federal housing agencies — have both reported record profits for 2013: $84 billion for Fannie and $45 billion for Freddie, or a total […]

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UPDATE 4-Freddie Mac profit moves US housing bailout further into black

* Freddie to send Treasury $10.4 billion next month * Fannie, Freddie dividends put taxpayers ahead by about $15.4 bln By Margaret Chadbourn WASHINGTON, Feb 27 (Reuters) – Freddie Mac on Thursday posted a record annual profit of $48.7 billion for 2013, triggering another fat dividend that will put taxpayers further into the black for […]

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Fannie Mae, Freddie Mac: Fairholme Victory Vs Treasury

of assets, primarily mortgages and mortgage-backed securities. Id. ¶ 2. During the financial crisis of 2008, both Fannie Mae and Freddie faced a steep reduction in the book value of their assets and lost the public’s confidence. Id. ¶ 4. In response, Congress enacted the Housing and Economic Recovery Act of 2008 (“HERA”). Id. Shortly thereafter, […]

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Fannie Mae Releases January 2014 Monthly Summary

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Freddie Mac Reports $48.7 Billion 2013 Profit

Freddie Mac reported a record annual profit of $48.7 billion for 2013 on Thursday, powered by a strong rebound in U.S. home prices and a series of legal and accounting benefits that reversed earlier losses. Freddie will pay $10.4 billion to the U.S. Treasury after it posted an $8.6 billion fourth-quarter profit, the ninth-straight quarter […]

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Now Uncle Sam Is Ripping Off Fannie and Freddie

Next month Fannie Mae and Freddie Mac, the giant enterprises that own or guarantee roughly half of all new mortgages, will hand over $7.2 billion to the U.S. Treasury, paying back more than the entire amount of their bailout. The achievement, which once seemed unimaginable, should be good news for the companies’ many private shareholders. […]

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Contracts to buy US homes barely budged in January

WASHINGTON (AP) — The number of Americans who signed contracts to buy homes was essentially flat in January, a possible sign of a softening real estate market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index inched up 0.1 last month to 95. The index has fallen 9 percent […]

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Freddie Mac posts $8.6 billion profit in 4Q

WASHINGTON — Mortgage giant Freddie Mac posted net income of $8.6 billion for the October through December period, its ninth straight profitable quarter. Earnings were boosted by the continued rise in home prices, which reduced the amounts the company had to set aside to cover losses on mortgages. Freddie’s fourth-quarter profit reported Thursday nearly doubled […]

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