The DoJ and the CFTC have both held investigations into whether BofA engaged in improper trading by doing its own futures trades ahead of executing large orders for clients.» Read More
If lenders temporarily freeze low introductory interest rates on home loans made to risky borrowers before they soar, it would be a modest fix for the country's fractured housing market.
Freddie Mac's planned sale of $6 billion in special stock to help shore up its battered finances will be closely watched by investors gauging the damage inflicted by the turmoil this year in the credit and housing markets.
Tuesday's market action was the mirror opposite of Monday's mayhem. The Dow rose 215 points, or 1.69%. Money poured into the financial stocks. The credit markets calmed down, and 10-year Treasury futures traded near record volume but in a fairly tempered way. The dollar rallied. All this started with news Abu Dhabi Investment Authority was investing $7.5 billion in Citigroup.
Mortgage finance companies Fannie Mae and Freddie Mac will not be able to invest in loans valued above $417,000 next year, their regulator said on Tuesday, saying it will hold the current loan limit steady.
The comments of Fed officials this week could be the balm the markets need, but they could just as easily prove to be the source of more anxiety.
UBS Investment Research on Monday lowered its view of Fannie Mae and Freddie Mac to a 'neutral' rating from a 'buy,' citing an increase in U.S. mortgage losses and slipping value of their other home loan investments.
Freddie Mac, the U.S. mortgage finance company that stunned Wall Street with a $2 billion quarterly loss a week ago, plans to sell $5 billion of preferred stock in a deal to be launched as early as this week, the Wall Street Journal said.
Since I'm starting my holiday early today (I'll be back on Monday), I thought I'd provide you with an interesting take on all the Fannie and Freddie news from a good source of mine, mortgage consultant and former HUD official, Howard Glaser. What follows are this thoughts:
The shrinking dollar skidded to a new low against the euro overnight though its off its lows as markets await the release of Fed minutes and its forecast later today. In the stock market, a spirited rally started to run out of steam by midday.
Freddie Mac, the No. 2 U.S. mortgage finance company, stunned Wall Street with a unexpectedly wide loss and plans to slash its dividend or use other means to raise capital to withstand a continuing downturn in the housing market.
Stocks closed higher after another volatile session, helped by a rally among energy shares as oil soared to a record high close of $98 a barrel.
Freddie Mac may report a loss of between $1 billion to $5 billion on its subprime AAA portfolio, Credit Suisse said on Monday, sending shares in the second-largest U.S. mortgage finance company sharply lower.
Stocks rebounded in the final minutes to close higher, ending another volatile week dominated by worries about a credit crunch and slowdown in the economy.
I’m still trying to decide what would be more fun: Repeating my morning of trying to understand the accounting changes involved in Fannie Mae’s most recent 10Q or sticking pins in my eyes. I’m starting to think the latter. So yesterday, an article in Fortune Magazine seemed to open up old wounds for Fannie.
Fannie Mae shares plunged 10 percent to their lowest in more than a decade on Friday after the company on a conference call failed to calm investors concerned about loss accounting.
Stocks got a good lift on the opening despite a negative forecast from Federal Express that says more about the economy than the company. That move up, driven in part by options expirations, has faded. The energy markets are cooking and oil is rising close to $95 per barrel, ahead of the expiration of the December contract there today.
Treasurys traded flat Friday, recovering their earlier losses as stocks turned lower and restored the safe haven bid for U.S. government debt.
The fourth quarter is now half over, and fourth quarter earnings estimates have been coming down quickly for financials and retailers. Both Kohl's and Ann Taylor lowered their guidance. Ann Taylor noted that "Traffic trends were particularly soft in the month of October," though they improved in November
Stocks closed sharply lower as investors remained skittish about the housing slump's toll on the economy and potential credit losses at big financial services companies.
The Democratic presidential hopeful shared his energy plan and his thoughts on the financial markets with Cramer. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.