Archive for January, 2016


Ex-Fannie Mae CEO urges US judge to toss SEC fraud case

NEW YORK Daniel Mudd, the last holdout among former top Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) executives accused of concealing risky mortgages that fueled the financial crisis, told a judge on Wednesday a U.S. regulator’s lawsuit seeking to hold him responsible should be thrown out. A lawyer for Mudd, who was Fannie Mae’s chief […]

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Freddie Mac: Housing market continues to improve

Things are looking up for the U.S. housing market as we enter the new year. The Freddie Mac Multi-Indicator Market Index (MiMi), shows one additional state — Missouri — entering its outer range of stable housing activity, along with four metro areas: Rochester, N.Y.; St. Louis, Mo.; Birmingham, Ala.; and Milwaukee, Wis. The national MiMi […]

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Fitch Affirms Freddie Mac 2012-K708 and Freddie Mac Structured Pass-Through Certificates K708

CARACAS, Venezuela–(BUSINESS WIRE)–Fitch Ratings has affirmed all six classes of Freddie Mac 2012-K708 multifamily mortgage pass-through certificates and three classes of Freddie Mac structured pass-through certificates, K-708. A detailed list of rating actions follows at the end of this release. KEY RATING DRIVERS The affirmations of the Freddie Mac 2012-K708 are based on the stable […]

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Freddie Mac: Mortgage rates drop four consecutive weeks

Mortgage rates once again moved lower amid continuous market turmoil, the latest Freddie Mac Primary Mortgage Market Survey said. This marks the fourth consecutive week that mortgage rates moved lower. Last week, rates also fell due to market turbulence driving investors to Treasuries. “The recent market turmoil has given the Fed pause; as was universally […]

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Lawrence home sales have bounce-back year in 2015; local job growth highest of any metro in Kansas; unemployment …

We’re still in that beginning-of-a-new-year period, which means there are certain things that have to be done: Break a resolution, break a treadmill, break an elastic waistband. And if you are a reporter, add one more to the list: Report on recently released year-end numbers. I have two quick ones to share with you today: […]

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Local Broker Named President-Elect of State Realtor Association

During the Triple Play REALTOR® Convention Trade Expo, local REALTOR® Robert Oppenheimer, Broker-Owner of RE/MAX Fortune Properties in Englewood Cliffs and Past President of the Eastern Bergen County Board of REALTORS® (EBCBOR), was named 2016 President-Elect of New Jersey REALTORS® (NJR) a 45,000+ member Statewide association. A resident of Cliffside Park, Robert is the only Bergen […]

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US pending home sales inch up in December

The number of people signing contracts to purchase homes managed to inch up last month, thanks to unseasonably warm weather in the Northeast. The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index crept up 0.1 percent to 106.8. Signed contracts jumped 6.1 percent in the Northeast, while they declined […]

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Ex-Fannie Mae CEO Calls SEC’s Subprime Fraud Suit ‘Absurd’

By Joe Van Acker Law360, New York (January 27, 2016, 3:30 PM ET) — A former Fannie Mae CEO accused of concealing the size of the mortgage lender’s subprime portfolio prior to the 2008 economic collapse told a New York federal judge Wednesday that the U.S. Securities and Exchange Commission’s allegations are “absurd” and that […]

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Fannie Mae Prices $945.7 Million Multifamily DUS REMIC (FNA 2016-M1) Under Its GeMS™ Program

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Ex-Fannie Mae boss’s lawyer: SEC lacks civil fraud evidence

NEW YORK (AP) — A former Fannie Mae top executive didn’t mislead investors about the mortgage giant’s exposure to subprime mortgages just before the housing bubble burst and should not face a civil trial in Manhattan, his lawyer said Wednesday. Attorney John Keker asked U.S. District Judge Paul Crotty to dismiss civil fraud charges brought […]

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