Fannie Mae and Freddie Mac Add Surcharge to Mortgages
Fannie Mae and Freddie Mac’s recent announcement shows that the subprime crisis is flowing over into the prime borrower market.
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Archive for the 'Mortgage Lending' Category (Chronologically Listed)
Fannie Mae Cuts Dividends by 30% and Frees Up Assets
After today’s closing bell Fannie Mae announced that they will sell 7 billion dollars in preferred stock and cut it’s dividend 30 percent to gain capital throughout 2008.
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Negotions to Sell Option One Fall Through
H&R Block, the owner of the subprime home mortgage lender Option One Mortgage, announced today that the sale to Cerberus Capital Management was canceled.
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Posted by Ryan Fiore on Dec 04 2007 under Housing Market, Mortgage Lending
Fannie & Freddie Loan Limits to Stay at $417,000
James Lockhart, the Office of Federal Housing Enterprise Oversite director said in a statement today that “While the house price survey data used in determining the conforming limit shows a decline over the past year.. the level will remain at $417,000 for the third straight year.”
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Posted by Ryan Fiore on Nov 27 2007 under Ben Bernanke, Fannie Mae, Freddie Mac, Henry Paulson, Mortgage Lending
Largest Price Drop on Record
According to the Standard & Poor Case-Shriller National Price Index home prices dropped 4.5 percent in the third quarter of this year when compared to the third quarter of last year.
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Posted by Ryan Fiore on Nov 27 2007 under Housing Market, Mortgage Lending
Subprime Lender Fieldstone Mortgage in Chapter 11 Bankruptcy
Fieldstone Mortgage Company, a subprime home mortgage provider, which was acquired in July by mortgage insurers MGIC Investment Corp filed for bankruptcy protection.
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Posted by Ryan Fiore on Nov 26 2007 under Housing Market, Mortgage Lending
Mortgage Losses Could Rack Up $300 Billion
The Organization for Economic Co-operation and Development said today that the overall losses from the mortgage crisis could rack up a bill of over 300 billion dollars.
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Federal Reserve Injects 47 Billion Dollars
Today the Federal Reserve put its largest infusion into the US banking system since after the September 11th, 2001 attacks.
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Bankers and Community Groups Fight About Mortgage Legislation
The big issue right now in Congress is what will become the final outcome of a major bill to reform subprime lending and the rest of the mortgage industry.
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Bear Stearns Says the Worst Will Be Over End of Fourth Quarter
Sam Molinaro, Bear Stearns chief financial officer, expects to write down 1.2 billion dollars in assets linked to mortgages in the fourth quarter of this year, but expects the worst of the bank’s writedowns are over.
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Posted by Ryan Fiore on Nov 14 2007 under Bear Stearns, Housing Market, Massachusetts, Mortgage Lending