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13 Apr 2012, 1:26 pm by Philip R. Stein
Mortgage Backed Securities Related Lawsuits Bank of America recently told FNMA that it was unwilling to repurchase loans from it, and is also refusing to buy back loans from its other investors, giving rise to MBS-related lawsuits, for example. [read post]
9 Apr 2012, 8:22 pm
As icing on the cake, the law also blocks bonuses to Fannie Mae (FNMA) and Freddie Mac (FMCC) executives while each company remains under government conservatorship. [read post]
29 Mar 2012, 9:28 am by Mandelman
  As it is currently written, the standard FNMA/FHLMC Paragraph 18 due-on-sale clause does not actually require a seller to pay off a loan at the time of sale. [read post]
5 Jan 2012, 10:43 am by admin
  An eleventh-hour payroll tax cut extension signed into law last week will for the first time divert funds directly from Fannie Mae (FNMA) and Freddie Mac, the two mortgage-finance companies under U.S. conservatorship, to pay for general government expenses. [read post]
4 Jan 2012, 10:39 pm by Adam Levitin
  Section 5.4(c) appears to stand for a very simple and uncontroversial principle (pace FNMA v. [read post]
26 Dec 2011, 3:48 pm by Mandelman
  Freddie Mac (FMCC) and Fannie Mae (FNMA), the two government-controlled mortgage giants, are freezing all foreclosure evictions on mortgage loans they own or back from Dec. 20th through Jan.3rd. [read post]
16 Dec 2011, 5:40 pm by Mandelman
The decision that came out of the Maine Supreme Court last week in FNMA v. [read post]
14 Dec 2011, 5:31 am by Rich Vetstein
Accordingly, for all FHA and some FNMA loans (i.e, the vast majority of conventional loans), the 10% capital reserve account rule will come into play. [read post]
25 Oct 2011, 6:16 am by Rich Vetstein
The refinancing program is open to homeowners whose mortgages are owned or guaranteed by Fannie Mae (FNMA) or Freddie Mac (FMCC), the two government-controlled mortgage giants whose rescue three years ago has cost taxpayers $141 billion to date. [read post]
20 Oct 2011, 4:38 pm by Mandelman
FNMA case is imminent, and if the court in that case rules that foreclosing parties need to hold both the mortgage and the promissory note when they foreclose, well… that would be the end of the re-foreclosure fix mentioned above. [read post]
18 Oct 2011, 3:18 pm by Rich Vetstein
FNMA case that foreclosing parties do not need to hold both the promissory note and the mortgage when they foreclose. [read post]
For example, he failed to disclose that any decision on the part of FNMA to redeem its preferred stock on the call date was optional and not a certainty. [read post]
4 Oct 2011, 8:22 am
In fact, with respect to the Federal National Mortgage Association Series T 8.25% non-cumulative preferred stock, Wachovia Securities acted as one of the lead underwriters in May 2008 selling 14.7 million shares or $367 million of FNMA preferred to its customers, and realizing commissions in excess of $18 million. [read post]
30 Sep 2011, 3:19 pm by Rich Vetstein
Updated: Click Here For Our Oral Argument Recap Just a reminder to those following the important SJC case of Eaton v. [read post]
11 Sep 2011, 7:55 pm by Kevin Funnell
Here are the high points for readers who are pressed for time: Congress passes legislation that orders the FHA, FNMA and FHLMC to make a trillion dollars in home loans at an interest rate of 3%.That generates servicing and origination income, and, Castleman expects, related service industry income (e.g., Home Depot). [read post]
16 Aug 2011, 7:50 pm by Kevin Funnell
Her reasoning (on which other observers agree): Why would Fannie purchase servicing rights merely to transfer them to another servicer (since FNMA doesn't service loans itself)? [read post]