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Fannie Mae common shares have soared, but there may not be a happy ending for investors.
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*Beyond timing of QE3, debate over which assets to target. NEW YORK/ SAN FRANCISCO, May 1- Top Federal Reserve officials are happy with the boost their asset purchases are giving the housing market, suggesting mortgage bonds could trump Treasuries when the U.S. central bank tinkers with its bond-buying program.
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*White House faced pressure to replace current FHFA chief. Representative Mel Watt, a longtime consumer advocate, to oversee mortgage financiers Fannie Mae and Freddie Mac, a White House official said.
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*Releases March 2013 monthly summary. *Fannie mae's book of business decreased at a compound annualized rate of 1.5. modifications in three months ended March 31.
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NEW YORK, April 29- A Manhattan judge indicated Monday he was "troubled" by how the U.S. government applied a rarely used law in a suit against Bank of America Corp over the sale of toxic mortgages to Fannie Mae and Freddie Mac.
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NEW YORK, April 29- Morgan Stanley has hired Michele Davis, a public relations official and policy director who helped shape the Treasury Department's strategy during the financial crisis, to become global head of corporate affairs, according to a bank memo sent on Monday.
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The sale will include $500 million of three-month bills, due July 31, 2013, and $500 million of six-month bills, due Oct. 30, 2013.
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WASHINGTON, April 26- The United States might not hit the statutory limit on its debt until October, a policy research group said on Friday, giving Republican lawmakers more time to extract spending cuts from the Obama administration in return for extending the borrowing cap.
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WASHINGTON, April 26- The United States might not hit the statutory limit on its debt until October, a policy research group said on Friday, giving Republican lawmakers more time to extract spending cuts from the Obama administration in return for extending the borrowing cap.
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The Fed's balance sheet- a broad gauge of its lending to the financial system- stood at $3.276 trillion on April 24, up from $3.252 trillion on April 17. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association rose to $1.136 trillion from $1.126 trillion the previous week.
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*U.S. using FIRREA in pending cases against BofA, Wells Fargo. District Judge Lewis Kaplan made that ruling in a lawsuit against Bank of New York Mellon, which the Justice Department accuses of overcharging clients for trading currencies.
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The Fed's balance sheet- a broad gauge of its lending to the financial system- stood at $3.276 trillion on April 24, up from $3.252 trillion on April 17. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association rose to $1.136 billion from $1.126 trillion the previous week.
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NEW YORK, April 25- Foreign central banks' overall holdings of U.S. marketable securities at the Federal Reserve rose in the latest week, data from the U.S. central bank showed on Thursday. The Fed said its holdings of U.S. securities kept for overseas central banks rose $13.5 billion in the week ended April 24, to stand at $3.3 trillion.
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WASHINGTON, April 25- The United States might run into trouble accessing debt markets if it defaulted on any of its financial obligations, even if it were able to keep up payments on government bonds, Treasury Secretary Jack Lew told Congress on Thursday.
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WASHINGTON, April 25- The United States might run into trouble accessing debt markets if it defaulted on any of its financial obligations, even if it were able to keep up payments on government bonds, Treasury Secretary Jack Lew told Congress on Thursday.
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*Factory activity slowest in six months in April. WASHINGTON, April 23- U.S. factory activity expanded at its slowest pace in six months in April, the latest sign that economic growth continued to lose momentum early in the second quarter, though the recovery has not been derailed.
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It's been a rough ride this year for Bank of America's investors, but the company is set for a major earnings rebound, according to Morgan Stanley.
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WASHINGTON, April 18- President Barack Obama is preparing to name a new regulator to oversee mortgage financiers Fannie Mae and Freddie Mac, and economist Mark Zandi is a leading choice among the candidates, according to people familiar with the process.
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Bank of America spokesman Lawrence Grayson declined to comment. The shareholders alleged they had been misled into buying shares of Charlotte, North Carolina- based Bank of America in 2009 and 2010..
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April 17- Bank of America Corp has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage debt.
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NEW YORK, April 16- A controversial proposal to get local government officials to condemn distressed mortgages-- in the same way they might condemn a dangerous property-- is slowly gaining traction in some California communities, several months after it appeared the idea had been killed.