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....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...Today’s top stories The US Federal Reserve announces its decision on interest rates at 2pm ET/7pm London today. Check back here for details and reaction....
...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....
...Every single subsidy that built the middle class, whether it's the homestead loans, the farm loans, the New Deal, mortgage, student loans, all of those - not accidentally but explicitly - exempted certain...
...When it came to the brewing US subprime mortgage crisis, Crastes thought doomsayers were getting ahead of themselves....
...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...
...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”....
...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....
...“The banks are looking at their future loan book and, post Brexit, they can see a decline in new mortgage lending . . . so they don’t need as many deposits, said Warren Mead, a partner at KPMG....
...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...
...al (2014)....
...The two US mortgage finance groups have been told by their regulator, the Federal Housing Finance Agency (FHFA), to release data on the home loans they guarantee in an effort to encourage private investors...
...(Financial Times) Average home prices in the US increased 2.2 per cent from April to May....
...Tom Hoenig, a director at the Federal Deposit Insurance Corp, said on Wednesday that he is worried that the Fed’s open-ended third round of quantitative easing could lead to banks taking on longer-duration...
...There is no doubt he would offer the US president a rich seam to mine in a general election. Yet it is Mr Gingrich’s inconstancy that makes him such an interesting prospect....
...“We have become hostage to the irresponsible behaviour of politicians,” said Bader al-Saad, head of the KIA, in a New York speech last month....
...Most of al-Qaeda’s top lieutenants have been defeated. The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home....
...In September 2008, at the height of the financial firestorm sweeping the planet, the US government stepped in to bail out Fannie Mae and Freddie Mac, two pillars of its mortgage market....
...Moreover, the Fed has not exhausted its capacity to push down mortgage rates, which are mostly fixed-rate loans tied to Fannie and Freddie borrowing costs....
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
...it will probably also include backing for loan principal reductions in cases where the mortgage is worth a lot more than the value of a home....
...The Federal Reserve last week began buying mortgages backed by government agencies Fannie Mae and Freddie Mac, part of its planned purchase of $500bn over the coming months....
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