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  • But a U.S. regulator cited the email as evidence that Nomura Holdings Inc and RBS made false statements about mortgage securities they sold to Fannie Mae and Freddie Mac. The FHFA's case is the first to reach trial out of 18 lawsuits the regulator filed in 2011 over some $200 billion in mortgage-backed securities that various banks sold Fannie Mae and Freddie...

  • NEW YORK, March 26- The New York Federal Reserve officials tasked with prying interest rates off the floor have been meeting with bankers and traders to plot how best to do it, amid deep uncertainty over how much control they will really have over short-term lending markets. With the U.S. central bank expected to raise rates later this year, Simon Potter and his team...

  • UPDATE 5-Google poaches Morgan Stanley's CFO Tuesday, 24 Mar 2015 | 1:11 PM ET

    *Google shares up 2.5 pct. March 24- Google Inc said it hired Ruth Porat, chief financial officer at Morgan Stanley, as its own finance chief, a move signaling that the search engine company may be looking to bear down on fast growing expenses. Porat has helped execute a sweeping cost-cutting strategy across several business lines at Morgan Stanley.

  • UPDATE 4-Google hires Morgan Stanley CFO Porat as CFO Tuesday, 24 Mar 2015 | 11:31 AM ET

    March 24- Morgan Stanley Chief Financial Officer Ruth Porat is leaving the bank to become Google Inc's CFO, the latest Wall Street executive to move to Silicon Valley, where fortunes can be built fast but businesses can also become irrelevant overnight. Porat, a California native, joined Morgan Stanley in 1987, and led Morgan Stanley's investment banking...

  • March 24- Ocwen Financial Corp said it would sell an additional $25 billion of servicing rights on agency loans to a subsidiary of Nationstar Mortgage Holdings Inc, its fourth such deal in two months. The portfolio being sold to Nationstar comprises about 142,000 performing loans owned by government-controlled mortgage finance firms Freddie Mac and Fannie...

  • Ocwen plans to sell $25B portfolio to Nationstar Tuesday, 24 Mar 2015 | 8:31 AM ET

    ATLANTA— Ocwen Financial plans to sell a portfolio of approximately $25 billion in mortgage servicing rights to a subsidiary of Nationstar Mortgage Holdings Inc.. The portfolio includes about 142,000 loans owned by Freddie Mac and Fannie Mae. It needs approval from Freddie Mac, Fannie Mae and the Federal Housing Finance Agency.

  • March 18- Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp. Ocwen, which delayed filing its full-year results, also said it was reviewing the ability of its affiliate, Home Loan Servicing Solutions Ltd, to meet obligations to fund new servicing advances.

  • WASHINGTON, March 18- U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms' regulator said on Wednesday. Taxpayers pumped $116.1 billion into Fannie Mae following the U.S. housing market collapse, while Freddie Mac was propped up...

  • House Republicans take aim at Dodd-Frank in budget plan Tuesday, 17 Mar 2015 | 11:20 AM ET

    WASHINGTON, March 17- Republican lawmakers took aim at the Dodd-Frank Wall Street reform law Tuesday, unveiling a plan that would gut regulators' authority to manage the collapse of big banks and give Congress direct control of the U.S. consumer finance bureau's budget. The proposal, led by House Budget Committee Chairman Tom Price, pledges to make "great strides...

  • NEW YORK, March 16- A U.S. housing regulator urged a federal judge on Monday to award it $1.1 billion due to false claims made about "crap" mortgages underlying securities sold by Nomura Holdings Inc to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. At the start of a trial in Manhattan federal court, a lawyer for the Federal Housing Finance Agency said...

  • NEW YORK, March 13- A U.S. housing regulator is set to take two of the world's biggest banks to trial on Monday to try and recoup more than $1 billion in damages over mortgage bonds sold to government-run mortgage finance companies ahead of the 2008 economic crisis. Lawyers for the regulator will face off with attorneys of Nomura Holdings Inc and Royal Bank of...

  • March 9- Fannie Mae said its Chief Risk Officer John Nichols was taking a leave of absence for health reasons.

  • The Home Affordable Refinance Program, set up in 2009 after the housing bubble burst, allows borrowers with loans backed by mortgage finance firms Fannie Mae and Freddie Mac to refinance at lower interest rates even when homes have lost value. "It's highly unlikely that we would extend the coverage period...," Federal Housing Finance Agency Director Mel Watt, whose...

  • Michael Stegman, the counselor to the Treasury's secretary for housing finance policy, advocated for programmatic sales of non-performing loans at Fannie Mae and Freddie Mac and for a faster reduction in the most illiquid assets held by the two government-sponsored enterprises. Fannie Mae, the nation's largest source of mortgage funds, and its sister firm...

  • WASHINGTON, March 5- The top U.S. housing regulator said on Thursday that the Federal Housing Finance Agency has gathered feedback into its Single Security initiative and will offer more details into the structure of the plan in the second quarter of this year. "While the Single Security remains a multi-year initiative, we believe this update report will be a...

  • WASHINGTON, March 5- A U.S. Treasury official on Thursday pushed for a faster reduction in the most illiquid assets held by Fannie Mae and Freddie Mac, and said the only way to fix the government-controlled mortgage finance firms was through legislative reform. Fannie Mae, the nation's largest source of mortgage funds, and its sister firm Freddie Mac were bailed...

  • WASHINGTON, March 5- A U.S. Treasury official on Thursday pushed for a faster reduction in the most illiquid assets held by Fannie Mae and Freddie Mac, and said the only way to fix the government-controlled mortgage finance firms was through legislative reform. "The closer the GSEs can come to transferring the majority of risk to private market participants, the...

  • March 2- Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar...

  • Ocwen said on Monday it expected the transaction to close by mid-2015, subject to approvals by Fannie Mae and the U.S. Federal Housing Finance Agency.

  • BUSINESS-NEWS-SCHEDULE AT 1930 GMT / 2:30 p.m. ET Friday, 20 Feb 2015 | 3:01 PM ET

    No deal yet in U.S. West Coast port dispute. SAN FRANCISCO- Shipping executives and union leaders for dockworkers at 29 U.S. West Coast ports remain locked in a dispute as talks, brokered by the U.S. labor secretary, head into a fourth straight day. WASHINGTON- The Obama administration says it will create a special enrollment period for tax filers who were unaware...