Hints and tips:
...You can see the challenges starkly in the Atlanta Fed’s affordability tracker: Unsurprisingly, this has resulted in US home sales falling off a cliff....
...As a Fannie Mae report noted: “Residents of these communities were willing to go to great lengths to secure their futures.”...
...The index is populated using information from mortgages purchased or securitised by Fannie Mae or Freddie Mac since January 1975....
...Says one lawyer: “You’re on a truck on an icy downhill cliff heading toward a turn and you know it’s going to be an awful outcome.”...
...First, Ms Rice’s withdrawal confirms that the fiscal cliff is the only real game in town....
...It could turn out to be very important: Jan 4 (IFR) – The yield-to-worst in the high-yield market dipped to its lowest level ever this week, as risk markets rallied on the fiscal cliff agreement....
...NEWS US fiscal cliff negotiations: A handful of top Republicans are giving up their opposition to higher tax rates on the rich, signalling possible progress in the fiscal cliff negotiations and adding pressure...
...(Reuters) Fannie and Freddie ‘may have suffered $3bn Libor loss’: “The estimate was provided in a memo obtained by Reuters that was sent to Freddie and Fannie’s regulator, the Federal Housing Finance Agency...
...Fannie Mae watch: The GSE “expects to report annual net income for the first time since 2006,” according to its third-quarter results (Fannie Mae)....
...Answering that question will have to wait for Congress to deal with the fiscal cliff – but after that, it could be an auspicious year for tackling long-term reform of housing finance, says Barbara Novick...
...NEWS Banks reach mortgage settlements of more than $20bn: BofA agreed to pay $11.6bn to Fannie Mae to resolve a protracted legal battle over bad loans....
...- What does the future hold for Fannie and Freddie? - Neil Hume did a guest post on Australia’s CapEx cliff. - How does one rate asset-backed securities in credit negative countries?...
...The tax compromise on the fiscal cliff has, of course, not put an end to budget battles for 2013.”...
...The FHA now guarantees more seriously delinquent mortgages than either Fannie Mae or Freddie Mac....
...- But we uncertain about the uncertainty unleashed by the fiscal cliff. - Izzi pondered the week’s big market mystery, the quiet Vix....
...All of those pressures have the potential to turn into shocks: a plunge off the US fiscal cliff, a panic in the eurozone, or a sudden stop in emerging economies....
...The Fed’s plan is to buy mortgage-backed securities of the government-sponsored agencies, Fannie Mae and Freddie Mac, at a rate of $40bn a month....
...Just think of 1998 (the Russian crisis and Long-Term Capital Management hedge fund implosion); 2007 (the mortgage securities and money market freeze); 2008 (the Fannie Mae “jolt”, which led to the Lehman...
...Cliffs Natural Resources was down 12.8 per cent to $61.55 in sympathy. Joy Global , which manufactures coal mining equipment, fell 7.2 per cent to $72.29....
...(HUD Affordable Lending goals for Freddie Mac/Fannie Mae, Oct 2000)....
...So, in a third and final parallel universe, an alternate Mr Paulson and an alternate Ben Bernanke could have nationalised Lehman outright – as they had already nationalised Fannie Mae and Freddie Mac on...
...” - “Fannie and Freddie have power make benefit glorious Nation of Jumbo.” - “Metal theft is the fastest-growing crime in the UK” - A new wave of sovereign bond defaults?...
...Portman Mining gained 19 per cent to A$21.10 after it said its US parent Cleveland Cliffs had offered to pay A$21.50 per share for the 14.81 per cent of stock it doesn’t already own....
...Initial public offerings have fallen off a cliff and each country has experienced a high-profile financial failure – the UK’s Northern Rock and Bear Stearns in the US....
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