Goldman said it would repurchase the securities sold to Fannie Mae and Freddie Mac over the 2005-2007 period.» Read More
NEW YORK, Aug 28- Bank of America Corp on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.
NEW YORK, Aug 28- A U.S. regulator can proceed with lawsuits accusing HSBC Holdings Plc and Nomura Holdings Inc of misleading Fannie Mae and Freddie Mac into buying mortgage-backed securities that later turned toxic, a federal judge ruled on Thursday.
Aug 22- Goldman Sachs Group Inc has agreed to a settlement worth $1.2 billion to resolve a U.S. regulator's claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced Friday.
Goldman said it would repurchase the securities sold to Fannie Mae and Freddie Mac over the 2005-2007 period.
Aug 22- Goldman Sachs Group Inc could pay about $1.1 billion to settle claims from the U.S. housing finance regulator that it sold bad mortgage-backed securities, the Financial Times reported.
WASHINGTON, Aug 21- Bank of America Corp has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities. Bank of America said the accord is expected to reduce third-quarter earnings by about $5.3 billion before taxes, or about 43 cents per share after taxes.
Furthermore, the solid activity reported in new construction and by Home Depot Inc in its quarterly report on Tuesday may in part be due to activity delayed by bad weather in the first quarter.
Aug 16- Activist Bill Ackman's Pershing Square Capital Management LP filed its second lawsuit in two days against the U.S. government over bailout of Fannie Mae and Freddie Mac, court documents show.
Aug 14- Pershing Square Capital Management LP, the hedge fund firm run by William Ackman, has sued the U.S. government, claiming that its stripping of Fannie Mae's and Freddie Mac's profit illegally short changes investors in the mortgage companies' common stock.
*Fannie Mae, Freddie Mac to give U.S. WASHINGTON, Aug 7- Government-controlled mortgage finance firms Fannie Mae and Freddie Mac made enough money in the second quarter to give taxpayers $5.6 billion in dividends, a sign they can turn substantial profits even in a lackluster housing market.
WASHINGTON, Aug 7- Government-controlled mortgage finance firms Fannie Mae and Freddie Mac said on Thursday they will pay U.S. taxpayers a combined $5.6 billion in dividends after another profitable quarter.
Aug 7- Fannie Mae and Freddie Mac said on Thursday they would pay dividends totaling $5.6 billion to the U.S. Treasury next month, pushing taxpayers further into the black on their bailout of the mortgage finance firms.
The FHFA filed 18 lawsuits against Goldman and other banks in 2011 over about $200 billion in mortgage-backed securities that later went sour.
There is something seriously wrong with bank regulation and litigation in the US today, says bank analyst Dick Bove.
Take a look at some of Tuesday's midday movers:
The Massachusetts attorney general has sued Fannie Mae and Freddie Mac over alleged refusal to engage in foreclosure buyback programs.
A fully private mortgage-finance system is the best way to fairly price mortgage-credit risks, says NYU Stern professor Lawrence White.
Home prices are moving so far, so fast, that at least 1,000 local housing markets have hit all-time price highs.
Younger renters consider down payment and credit score to be top obstacles to getting a mortgage, according to a Fannie Mae survey.
The vote had been delayed in order to build support for the plan that would wind down taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac.