Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...It’s not going to be debt holders, which are the Fed and the Federal Home Loan Bank of San Francisco. They are secured creditors who hold collateral against their loans....
...Other independent lenders, including Sprout Mortgage and First Guaranty Mortgage Corp, have gone out of business....
...Latest news Nato’s Stoltenberg accuses Putin of ‘dangerous and reckless nuclear rhetoric’ Steep mortgage rates fuel August decline in US existing home sales New York attorney-general files fraud suit...
...In the mortgage industry, the UK’s fondness for short-term deals is also a product of its underlying financing structure: most home loans are funded by deposits, the bulk of which can, in theory at least...
...The St Louis Fed reported that banks were seeing a “sharp increase in delinquencies”, mainly in mortgages, credit cards, and car loans, but expected fewer delinquencies in the third quarter....
...The first of these is that most mortgage market people do not believe it is possible to sell Fannie and Freddie mortgage-backed securities without a government “wrap”....
...); (v) the EU taxonomy; and (vi) a possible carbon border tax....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...The taxpayer’s support of Fannie and Freddie underpins the unique US system of fixed 30-year mortgages, which allows homeowners to pay back home loans over decades without worrying about interest rates....
...And last year, the Federal Housing Administration cut its mortgage insurance fee so as to save borrowers up to $900 a year....
...So the FDIC as liquidator of Penn Square et al asserted that the “sales” of loan participations by Penn Square and the others were not “true sales” that gave rights to the underlying collateral (whatever...
...John Paulson’s $3bn event-driven hedge fund swung to a 14 per cent loss last month as the investor known for making billions betting against US subprime mortgages fell deeper into the red for 2014....
...al (2014)....
...Fannie and Freddie guarantee a majority of mortgage lending in the US....
...The bill would wind down Fannie and Freddie over five years, but maintain a government backstop for the mortgage market through a new Federal Mortgage Insurance Corporation....
...future of Fannie Mae and Freddie Mac is creating strange bedfellows, with consumer advocate Ralph Nader teaming up with a wealth manager to oppose the US government’s move to take all of the profits of the mortgage...
...The bipartisan bill would wind down Fannie and Freddie over five years, but maintain a government backstop for the mortgage market through a new Federal Mortgage Insurance Corporation....
...Private banks have become so reluctant to make loans that more than 90 per cent of new US mortgages now carry government guarantees....
...The 60 Plus group called the Johnson-Crapo bill the Obamacare of the mortgage industry, comparing the structures that would have to be formed to support the housing finance system to the contentious health...
...That money will be used to capitalise a new Mortgage Insurance Fund, which would be overseen by a new regulator, the National Mortgage Finance Administration....
...Both Senate proposals would wind down and eventually eliminate Fannie and Freddie, while creating a Federal Mortgage Insurance Corporation similar to what the Federal Deposit Insurance Corporation does for...
...loans....
...The serious delinquency rate of Freddie’s single-family home loans declined to 2.39 per cent as of the end of 2013, compared to the national 5.4 per cent rate recorded by the Mortgage Bankers Association...
...There has been a growing chorus, particularly among some hedge funds, to leave Fannie and Freddie as they are because they are performing well as home prices rise and loan quality improves....
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