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Mark Zandi, a well-known economist, is a front-runner to lead the U.S. housing regulator and oust Edward DeMarco, who critics say hasn't done enough to aid homeowners, the Wall Street Journal reported.
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WASHINGTON, April 26- The United States might not hit the statutory limit on its debt until October, a policy research group said on Friday, giving Republican lawmakers more time to extract spending cuts from the Obama administration in return for extending the borrowing cap.
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More than US $8.5 bn in private-label CMBS has been marketed to investors so far in April, including a new JP Morgan conduit for US $1.2 bn, JPMCC 2013- LC11, that was announced on Friday. A further US $2.8 bn in government-backed Freddie Mac multi-family deals have also priced this month, according to IFR and Thomson Reuters data.
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The Fed's balance sheet- a broad gauge of its lending to the financial system- stood at $3.276 trillion on April 24, up from $3.252 trillion on April 17. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association rose to $1.136 trillion from $1.126 trillion the previous week.
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*U.S. using FIRREA in pending cases against BofA, Wells Fargo. District Judge Lewis Kaplan made that ruling in a lawsuit against Bank of New York Mellon, which the Justice Department accuses of overcharging clients for trading currencies.
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The Fed's balance sheet- a broad gauge of its lending to the financial system- stood at $3.276 trillion on April 24, up from $3.252 trillion on April 17. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association rose to $1.136 billion from $1.126 trillion the previous week.
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NEW YORK, April 25- Foreign central banks' overall holdings of U.S. marketable securities at the Federal Reserve rose in the latest week, data from the U.S. central bank showed on Thursday. The Fed said its holdings of U.S. securities kept for overseas central banks rose $13.5 billion in the week ended April 24, to stand at $3.3 trillion.
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WASHINGTON, April 25- The United States might run into trouble accessing debt markets if it defaulted on any of its financial obligations, even if it were able to keep up payments on government bonds, Treasury Secretary Jack Lew told Congress on Thursday.
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WASHINGTON, April 25- The United States might run into trouble accessing debt markets if it defaulted on any of its financial obligations, even if it were able to keep up payments on government bonds, Treasury Secretary Jack Lew told Congress on Thursday.
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Initial claims for state unemployment benefits dropped to a seasonally adjusted 339,000, the Labor Department said on Thursday. "The trend suggests a very slow improvement in the labor market," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis.
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----------------------------------------------------------0830/ 1230: The Labor Dept. issues weekly Jobless claims. 0830/ 1230: The USDA releases weekly Export Sales. 1000/ 1400: Freddie Mac issues weekly U.S. mortgage rates. 1000/ 1400: Treasury Secretary Jack Lew testifies before a House Appropriations subcommittee on the Treasury Department budget.
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*Factory activity slowest in six months in April. WASHINGTON, April 23- U.S. factory activity expanded at its slowest pace in six months in April, the latest sign that economic growth continued to lose momentum early in the second quarter, though the recovery has not been derailed.
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WASHINGTON, April 18- President Barack Obama is preparing to name a new regulator to oversee mortgage financiers Fannie Mae and Freddie Mac, and economist Mark Zandi is a leading choice among the candidates, according to people familiar with the process.
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Bank of America spokesman Lawrence Grayson declined to comment. The shareholders alleged they had been misled into buying shares of Charlotte, North Carolina- based Bank of America in 2009 and 2010..
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April 17- Bank of America Corp has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage debt.
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NEW YORK, April 16- A controversial proposal to get local government officials to condemn distressed mortgages-- in the same way they might condemn a dangerous property-- is slowly gaining traction in some California communities, several months after it appeared the idea had been killed.
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Mark Zandi, a well-known economist, is a front-runner to lead the U.S. housing regulator and oust Edward DeMarco, who critics say hasn't done enough to aid homeowners, the Wall Street Journal reported.
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WASHINGTON, April 13- Mark Zandi, a well-known economist, is a front-runner to lead the U.S. housing regulator and oust Edward DeMarco, who critics say hasn't done enough to aid homeowners, the Wall Street Journal reported.
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*Earnings per share 92 cents vs est 88 cents. April 12- Wells Fargo& Co reported a higher-than-expected 23 percent rise in first-quarter profit on Friday, but its mortgage business showed further signs of slowing and net interest margins continued to shrink. Wells Fargo shares were down 2 percent at $36.78 in premarket trading.
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WASHINGTON, April 11- A federal watchdog will probe whether the state of Florida misused a fund that was supposed to help homeowners hurt by the 2007-09 recession, U.S. Senator Bill Nelson of Florida said on Thursday.
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WASHINGTON, April 11- President Barack Obama has the power to oust U.S. housing regulator Edward DeMarco and very likely the authority to replace him without congressional approval, New York Attorney General Eric Schneiderman argued on Thursday.