Recent moves by the White House suggest that the US may be nearing a settlement with Fannie Mae and Freddie Mac shareholders, says Dick Bove.» Read More
Freddie Mac, the nation's second-largest buyer and guarantor of home mortgages, said Thursday its second-quarter profit fell 45% as it had to record larger provisions on its books for bad loans.
Now that the market has settled a bit, Cramer went back to his normal Game Plan strategies. Here are his takes on Dollar Tree, Freddie Mac, H&R Block, Dell and Sears Holdings.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The hot topic on the Street is the probability of a recession. Robert Albertson, chief strategist at Sandler O'Neill, and this morning Angelo Mozillo, CEO of Countrywide both voiced fears that a recession was coming. Opinions are sharply divided on this. David Bianco, UBS' Equity Strategist, said earlier this month that the S&P seems to be signaling a "financial sector recession" (i.e. that a recession is expected to mostly affect financial sector profits).
Countrywide Financial provided further details on the $11.5 billion it drew down to improve its liquidity, a Friday regulatory filing showed.
The federal regulator for Fannie Mae Friday denied the mortgage finance company's request to grow its investment portfolio, but did not close the door on the possibility of lifting the cap in the future.
The government on Friday said it will not ease investment limits on home-loan finance giants Fannie Mae and Freddie Mac but didn't rule out an eventual increase.
Wall Street is bracing for a sharply lower open as fears of a global liquidity crisis pound stock markets worldwide. Central banks around the globe stepped in to inject funds into the banking system and pump confidence back into markets, wary of the continued ripple effect of the U.S. subprime mortgage fallout.
Daniel Mudd, chief executive of mortgage lender Fannie Mae, told CNBC that the housing slump won't hit bottom for another year and that the current credit crunch will spread “all across the housing market.”
Financial stocks got hammered again on Thursday as renewed credit worries scared investors away from the sector. Housing stocks, however, showed surprising strength even with the growing problems in the subprime mortgage market.
U.S. stocks powered to a sharply higher close in a volatile final hour of trading after the markets were roiled by rumors and comments from President Bush. "The rollercoaster ride is not over yet," said Stuart Schweitzer at JP Morgan Private Bank. "I think we're in the fourth inning on subprime and credit-related issues, but this economy is resilient."
Treasury Secretary Hank Paulson told CNBC that the U.S. economy remains healthy but troubles in the housing market may take some time to play out. Paulson also said he was not concerned with a recent report suggesting China may retaliate economically if the U.S. imposes trade sanctions to force a revaluation of the yuan.
A rebound in the financial sector and positive earnings surprises triggered gains for some of the most actively traded stocks on Tuesday.
Cramer is done being negative. An all-out economic crisis stemming from the mortgage meltdown can be avoided. Here's what he thinks the Fed can do to start.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Shares of Fannie Mae and Freddie Mac, the largest providers of money for U.S. home mortgages, jumped as much as 10 percent on Monday on speculation that regulatory restrictions limiting the size of their portfolios might be lifted.
Corporate news and analyst upgrades were some of the catalysts behind the most actively traded stocks on Monday.
So there I was at the National Association of Realtors headquarters this morning, ready for the usual press conference on the monthly existing home sales numbers, but before the 'spiel' and the charts, the PR team passed out two interesting papers: “Fact Sheet” they each blared across the top in bold print.
A number of U.S. states are setting up funds to help homeowners with risky subprime mortgages refinance to more affordable loans in a bid to slow the rate of home foreclosures, the Wall Street Journal reported on its Web site.
Mortgage rates extended their climb for the fifth straight week, skyrocketing to highs not seen in nearly a year, according to a weekly survey released by finance company Freddie Mac on Thursday.
Freddie Mac, the No. 2 U.S. mortgage finance company, on Thursday reported an unexpected net loss of $211 million for the first quarter, citing a souring outlook for mortgage credit risk that widened credit spreads.
Former Federal Reserve Board vice chairman Preston Martin died Wednesday at his home in San Francisco after a brief illness, his family said in a statement. He was 83.