Hedge funds and other groups are spreading bad information about the reform of Fannie and Freddie, says the Mortgage Bankers Association president.» Read More
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.
What's the latest on Trading With The Stars?? Actor Jonathan Tucker holds onto 1st place (and gets his picture posted again) because of Google's solid earnings and gains across almost all of his holdings. Meanwhile, Willie Garson fights his way back into third place on Brilliance China Auto, as Chris Moneymaker falls from 3rd to 5th place on a $60K loss on Tempur-Pedic.
Time to put back Jonathan Tucker's photo in the blog post as the actor has pushed out poker champion Chris Moneymaker from the top spot in Trading With The Stars. Jonathan is now followed by fellow actor Stephen Collins in 2nd. Moneymaker lost on Cubist Pharma which fell 7.46% Thursday. It's a close race between the top 3, with only....
It was a volatile day for the celebs. Champion poker player Chris Moneymaker holds onto the first spot despite his $90K loss on Syntel but actor Jonathan Tucker takes over the #2 spot. Meanwhile, Willie Garson falls into 4th, allowing Stephen Collins to gain 3rd place. Johnny Bench falls from 6th to 8th. One of the stocks for Chris M., CBST, is also a favorite of Parker Robinson in our non-celeb trading. Both are "banking" on it paying off.
The moves by the two government-sponsored companies, the biggest buyers and guarantors of home mortgages in the country, came in response to the turmoil in the market for so-called subprime mortgages, higher-priced loans for people with tarnished credit or low incomes who are considered greater risks.
Mortgage financier Freddie Mac reported Friday a fourth-quarter net loss, but said that full-year profit rose from a year ago and also said it would boost its share repurchase program.
Whodunit? Amid events like the NYSE's suspension of trade in New Century Financial shares, the subprime mortgage sector is in trouble -- and some are blaming the Federal Reserve. Rick Antonoff, partner at Pillsbury Winthrop Shaw Pittman, took on CNBC's Steve Liesman to debate the question.
Federal Reserve Chairman Ben Bernanke urged Congress on Tuesday to bolster regulation of mortgage giants Fannie Mae and Freddie Mac, and suggested limiting their massive holdings to guard against any danger their debt poses to the overall economy.
Wall Street took its worst beating in four years, as a sell off in the Chinese stock market triggered a global stock selling spree and raised fears of a slowdown in the world economy. "Asia sneezed and we all picked up a global chill," Frederic Dickson, Chief Market Strategist at D.A. Davidson, told CNBC.com.
Freddie Mac, one of the nation's biggest buyers of subprime mortgages, is announcing dramatically tougher standards for purchasing these loans in the secondary market, according to CNBC's Steve Liesman.
The report by Moody's Investors Service about "prime" loans came amid mounting concern about "subprime" borrowers, who have weaker credit histories.
The loss was a contrast to the $880 million gain the company reported for the third quarter of 2005. Freddie said that its business was very sensitive to interest rate fluctuations and that the third-quarter loss came after gains in the first half of the year.