Archive for June, 2017


Fannie Mae whistleblower loses appeal of wrongful firing lawsuit

The District of Columbia federal appeals court has declined to revive a whistleblower’s lawsuit accusing housing finance giant Fannie Mae of firing her in retaliation for disclosing waste and mismanagement in a mortgage assistance program. The lawsuit by Caroline Herron had alleged that Fannie Mae violated her constitutional free speech rights by firing her, but […]

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Bruce Berkowitz Bets Big on Sears, Fannie Mae, and Freddie Mac …

Bruce Berkowitz’s comeback is tied to one heck of a value play: Sears Holdings (SHLD). Berkowitz’ $2.2 billion Fairholme Fund (FAIRX), which is some 90% lighter in terms of assets under management compared to its 2011 peak, also has big bets on government-backed mortgage financiers Fannie Mae and Freddie Mac. The mutual fund manager told WSJ’s […]

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Bob Corker: Fannie Mae and Freddie Mac can be reformed this year

A key senator said Thursday that lawmakers might be able to reform Fannie Mae and Freddie Mac this year, citing a forming consensus among outside groups. “I truly believe we’re going to be able to pass a piece of legislation this year,” said Bob Corker, a Tennessee Republican, speaking at a Senate Banking Committee hearing […]

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Freddie Mac: Mortgage rates are down…for now

Mortgage rates dropped this week, however, they are not expected to stay down for long as the Treasury yield inches higher. “The 30-year mortgage rate fell two basis points to 3.88% this week,” Freddie Mac Chief Economist Sean Becketti said. “However, the majority of our survey was conducted prior to Tuesday’s sell-off in the bond […]

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Tubbs remembered as a real estate mentor

Nelson Tubbs, a Realtor for more than four decades, died June 25, 2017.(Photo: Courtesy) For many within the real estate community, Nelson Tubbs was the gold standard. Establishing Century 21 Gold Coat Realtors in Wichita Falls in 1982, Tubbs, who died June 25, defined honesty and encouragement. Those mourning his loss included colleagues and students […]

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The Clarksville Association of Realtors (CAR) will host the fourth annual Handbags For Hope

Contributed(Photo: Contributed) The Clarksville Association of Realtors (CAR) will host the fourth annual Handbags For Hope at the Wilma Rudolph Event Center on Saturday, August 12th.  Proceeds from the event will benefit Urban Ministry’s SafeHouse for Women and the CAR Young Professionals Network Mike Groves Memorial Scholarship Fund.   Handbags For Hope will feature over […]

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Pending home sales tumble as supply crisis worsens

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One-time investing legend on his fund’s abysmal performance this decade: ‘Life is not smooth’

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BRIEF-Fannie Mae releases May 2017 monthly summary

June 29 Federal National Mortgage Association : * Fannie Mae – the conventional single-family serious delinquency rate decreased three basis points to 1.04 percent in May * Fannie Mae – the multifamily serious delinquency rate remained flat at 0.04 percent in May * Fannie Mae – Fannie Mae completed 7,210 loan modifications in May * […]

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Fannie Mae Should Rethink Its Plans to Expand Role in Housing Finance Sector

According to recent reports, Fannie Mae, the government-sponsored enterprise backed by federal taxpayers, plans to expand its role in the housing finance system by further relaxing general underwriting standards for allowable loans held in its financial portfolio. Under the expected policy change, Fannie Mae would broadly cover mortgages with high borrower debt-to-income ratios by increasing […]

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