Search for: "FANNIE MAE"
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30 Oct 2013, 10:13 pm
The Hustle” caused millions in losses to federally backed mortgage agencies Freddie Mac and Fannie Mae. [read post]
28 Oct 2013, 12:04 pm
According to case records, the HSSL loans were sold to government mortgage giants, Fannie Mae and Freddie Mac. [read post]
25 Oct 2013, 3:28 pm
According to the New York Times (Deal Book), the Federal Housing Finance Agency has announced its own $4 billion dollar settlement with JPMorgan Chase, covering the bank's sale of mortgage-backed securities to Fannie Mae and Freddie Mac in the period... [read post]
24 Oct 2013, 12:24 pm
In addition, while regulators may initially be more temperate in exercising their supervisory and enforcement authority, creditors may, over time, feel increasing pressure to make non-QM loans, particularly once loans that are eligible for sale to Fannie Mae or Freddie Mac lose their temporary QM status. [read post]
22 Oct 2013, 7:57 am
“James Lee Lankford participated in a fraudulent scheme that preyed on elderly victims and the banking industry causing millions of dollars in losses to those individuals and to Fannie Mae and Freddie Mac,” said Michael P. [read post]
17 Oct 2013, 8:46 pm
This resulted in an $18,735,903.77 loss to Freddie Mac and Fannie Mae. [read post]
17 Oct 2013, 8:26 pm
The indictment alleges that the conspirators obtained approximately $39 million in 163 fraudulent mortgage loans at Marina Oaks, resulting in $34 million in losses to the various lenders including Fannie Mae, which reported losses over $4.1 million to date, while Freddie Mac faces potential exposure of an additional $8.5 million. [read post]
17 Oct 2013, 3:15 am
The Chicago Tribune runs a story indicating that Freddie Mac and Fannie Mae will start pursing foreclosure deficiency judgements more aggressively: Fannie and Freddie can pursue judgments against borrowers who walk away from their loans even though they have the... [read post]
14 Oct 2013, 8:46 am
On October 7, the FHFA announced that the joint venture between Fannie Mae and Freddie Mac to build and create a new common securitization platform has reached certain milestones, including the filing of a certificate of formation for the legal entity created by the joint venture as well as leasing office space. [read post]
10 Oct 2013, 9:30 pm
Department of Agriculture (USDA) warned of a salmonella outbreak in chicken from certain California facilities.The Nuclear Regulatory Commission (NRC) furloughed ninety percent of its staff a day earlier than originally planned.Industry groups sued the Environmental Protection Agency (EPA) over the agency’s renewable fuel standard.The Federal Housing Finance Agency (FHFA) announced that it would create a common platform for Fannie Mae and Freddie Mac to issue mortgage-backed… [read post]
7 Oct 2013, 6:35 am
In another major business case, the Court refused to clear the way for 76 banks and other financial institutions to appeal a dispute on their potential multi-billion-dollar liability for selling flawed mortgage-backed securities to Fannie Mae and Freddie Mac. [read post]
6 Oct 2013, 1:52 pm
Fannie Mae and Freddie Mac's position is that they will not agree to a principal reduction in a mortgage modification. [read post]
4 Oct 2013, 3:39 am
Through this scheme, the defendants arranged the purchase of approximately $100 million in mortgages, resulting in estimated total losses between $7 million and $20 million to the mortgage lenders and secondary purchasers Fannie Mae and Freddie Mac. [read post]
2 Oct 2013, 8:27 pm
Armstrong arranged the purchase of approximately $100 million in loans through this scheme, resulting in estimated losses between $7 million and $20 million to the mortgage lenders and secondary purchasers Fannie Mae and Freddie Mac. [read post]
1 Oct 2013, 8:12 am
Government Sponsored Enterprises Fannie Mae and Freddie Mac will continue operating normally, as will their regulator, the Federal Housing Finance Agency, since they are not reliant on appropriated funds. [read post]
25 Sep 2013, 5:55 am
The trial against Bank of America Corp's Countrywide unit has begun and the prosecutor has stated that the company placed profits over quality in a "massive fraud" selling shoddy mortgages to Fannie Mae and Freddie Mac.The claim came at the start of the first case by the government to go to trial against a major bank over defective mortgage practices leading up to the 2008 financial crisis. [read post]
23 Sep 2013, 5:00 am
The Federal Housing Finance Agency has already stated that Fannie Mae and Freddie Mac should stop doing business in places that approve the use of eminent domain to seize and refinance underwater mortgages, effectively eliminating mortgage financing. [read post]
18 Sep 2013, 9:29 am
Accordingly, Fannie Mae’s motion to compel was denied. [read post]
16 Sep 2013, 9:44 am
FHFA originally filed the action in the Supreme Court for the State of New York in 2011, alleging misstatements and omissions about loan quality in connection with RMBS purchased by Fannie Mae and Freddie Mac. [read post]
12 Sep 2013, 12:58 pm
Also in early August, as reported by NuWire Investor, "the Federal Housing Financial Agency, regulator of Fannie Mae and Freddie Mac, two of the biggest investors in private-label mortgage-backed securities, issued a strong statement against [Richmond's plan to use eminent domain to acquire underwater mortgages], saying it would legally challenge any local or state action that sanctions use of eminent domain." [read post]
