Stocks declined on Tuesday as news from China hit commodity prices..» Read More
WASHINGTON, Feb 10- The non-profit group Better Markets filed a lawsuit against the U.S. Justice Department on Monday to block what it called an "unlawful" $13 billion settlement with JPMorgan Chase& Co over bad mortgage loans sold to investors before the financial crisis.
WASHINGTON, Feb 5- Investors that have bid up the preferred and common shares of government-controlled Fannie Mae and Freddie Mac are starting to get louder. President Barack Obama and Democrats and Republicans in Congress want to wind down Fannie Mae and Freddie Mac.
Feb 4- Morgan Stanley said it would pay $1.25 billion to the U.S. regulator for Fannie Mae and Freddie Mac to settle a lawsuit related to the sale of mortgage-backed securities.
Feb 4- Morgan Stanley said it would pay $1.25 billion to the U.S. regulator for Fannie Mae and Freddie Mac to settle a lawsuit over mortgage-backed securities. The Wall Street bank will add $150 million to its legal reserves as a result of the settlement with the Federal Housing Finance Agency, Morgan Stanley disclosed in a regulatory filing on Tuesday.
WASHINGTON, Feb 4- New U.S. budget deficit estimates due on Tuesday will likely show a rapidly improving fiscal picture over the next few years, contributing to a waning appetite in Washington for further budget cutting. A recovering housing market also may increase contributions from government-controlled mortgage finance firms Fannie Mae and Freddie Mac.
NEW YORK, Jan 30- Foreign central banks slashed their holdings of U.S. debt stored at the Federal Reserve by the most in seven months during the past week, leaving these so-called custody holdings at the lowest level since November, Fed data released Thursday showed.
NEW YORK, Jan 30- The U.S. government has asked a judge to order Bank of America Corp to pay $2.1 billion, increasing its request for penalties stemming from a jury's finding that the bank was liable for fraud over defective mortgages sold by its Countrywide unit.
WASHINGTON, Jan 30- Federal Reserve Chairman Ben Bernanke departs the U.S. central bank on Friday after eight largely turbulent years in which he guided the economy through the most virulent financial crisis and recession since the Great Depression. Oct. 24, 2005- President George W. Bush nominates Bernanke to be Fed chairman.
WASHINGTON, Jan 29- President Barack Obama's renewed pitch for legislation to wind down mortgage-finance giants Fannie Mae and Freddie Mac is unlikely to break a political log-jam that threatens to put the goal out of reach- at least while he's in office.
WASHINGTON, Jan 28- President Barack Obama renewed his call on Tuesday to wind down mortgage-finance giants Fannie Mae and Freddie Mac and revamp the housing finance system to include a more limited government backstop.
WASHINGTON, Jan 28- President Barack Obama will renew his call on Tuesday to wind down mortgage-finance giants Fannie Mae and Freddie Mac and revamp the housing finance system to include a more limited government backstop, the White House said.
NEW YORK/ WASHINGTON, Jan 25- The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing.
WASHINGTON, Jan 22- The Obama administration on Wednesday argued against expanding a program that allows some borrowers with Fannie Mae and Freddie Mac loans to lower their interest rates even if they owe more than their homes are worth.
Jan 16- Citigroup Inc posted weaker-than-expected quarterly results on Thursday, as lackluster bond-trading results weighed on overall revenue. The bond trading results lagged rivals' including Bank of America Corp and JPMorgan Chase& Co..
Jan 15- Citigroup Inc said that it will sell mortgage servicing rights of $10.3 billion Fannie Mae residential first mortgage loans as the bank looks to reduce its assets and expenses within Citi Holdings.
Jan 15- Bank of America Corp said on Wednesday its quarterly profit surged by nearly $3 billion as revenue increased and mortgage losses plunged, the clearest sign yet the bank was shaking off the impact of the financial crisis. Bank of America's shares rose 2.3 percent to $17.15 on Wednesday, after earlier rising to $17.42, the highest level since May 2010.
Jan 15- Bank of America Corp said on Wednesday quarterly profit surged by nearly $3 billion as revenue increased and mortgage losses plunged, the clearest sign yet the bank was shaking off the impact of the financial crisis.
Jan 15- Bank of America Corp said its quarterly profit surged by nearly $3 billion, as revenue increased and mortgage losses plunged in the clearest sign yet the bank was shaking off the impact of the financial crisis. The purchase has cost Bank of America more than $45 billion in writedowns and legal settlements.
WASHINGTON, Jan 14- A U.S. government watchdog is involved in an investigation of whether bank traders manipulated markets and engaged in front running of orders from Fannie Mae and Freddie Mac in the interest-rate swaps market, according to an FBI intelligence bulletin reviewed by Reuters.
Jan 13- Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence bulletin reviewed by Reuters.