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26 Apr 2010, 7:40 pm by Kevin Funnell
The latest announcements of potentially material losses due to forced repurchases of mortgages from Fannie Mae (Deloitte) and Freddie Mac (PwC) were made JP Morgan and Bank of America – both audited by PwC [read post]
22 Apr 2010, 11:45 am by Mandelman
Morgan had paid no income tax since 1929, while the rest of the country had fallen on, shall we say, very hard times. [read post]
15 Apr 2010, 7:28 pm by Kevin Funnell
While Alloway notes that lenders like JP Morgan Chase are pushing back against repurchase demands by Fannie Mae and Freddie Mac (something we also discussed in an earlier post), and that JP Morgan Chase asserts that 50% of the buyback requests go unfulfilled, she also points out that Chase's last 10Q filing stated that "[i]t anticipates that its 2010 revenue could be negatively affected by elevated levels of repurchases of mortgages previously sold to GSEs. [read post]
25 Mar 2010, 10:15 pm by John Watts & M. Stan Herring
Four commercial banks now dominate the home mortgage market: Citigroup, JP Morgan Chase, Bank of America, and Wells Fargo, and they will receive the bulk of these repurchases. [read post]
1 Mar 2010, 7:44 pm by Kevin Funnell
Fannie and Freddie are the only game in town when it comes to loan purchases, while the GSEs need big loan originators like Wells Fargo, Bank of America, and JP Morgan Chase, so it can't afford to financially damage them or honk them off to the point that they get really creative and find a way to bypass Fannie and Freddie or simply say "screw it" and focus on something more profitable and less likely to involve the US Government changing the deal on them… [read post]
5 Feb 2010, 6:05 am by Hal Scott, Harvard Law School,
None of the most prominent failures of the financial crisis—Fannie Mae, Freddie Mac, AIG, Bear Stearns, or Lehman Brothers—were deposit-taking banks. [read post]
2 Feb 2010, 7:44 pm by Kevin Funnell
Morgan Chase & Co. and other mortgage lenders when the housing bubble burst. [read post]
20 Jan 2010, 7:51 am by admin
The GSEs will be frozen in time Sixteen months ago - how time flies - Treasury seized control of Fannie Mae and Freddie Mac, placing both of them into conservatorship, a thing I thought impossible right up until the moment it happened. [read post]
The chapter also considers the receiverships of AIG and government-sponsored enterprises (principally Fannie Mae and Freddie Mac), the engineering-assisted transactions (including JP Morgan’s acquisition of Bear Stearns and Bank of America’s purchase of Merrill Lynch), as well as other measures adopted to stabilize troubled financial institutions. [read post]
17 Dec 2009, 3:56 am by Mandelman
We have worked with Fannie Mae to set up an escalation call center so that borrowers may seek immediate assistance in completing a modification request, or to report suspected misapplication of HAMP program rules by a servicer. [read post]
3 Dec 2009, 9:07 pm
On July and early September 2008 Freddie Mae and Fannie Mae, two government-sponsored companies in the mortgage industry, were aided by the U.S. [read post]
19 May 2009, 8:00 am
Duberstein, a director since 1997, is also a director of ConocoPhillips, Fannie Mae, and St. [read post]
16 Feb 2009, 12:54 pm
According to Zibel, Fannie Mae and Freddie Mac, JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. have all extended non-eviction policies originally put in place shortly before Christmas until sometime in early or mid-March. [read post]
13 Feb 2009, 10:17 am
JP Morgan Chase & Co., Citigroup Inc., Morgan Stanley and Fannie Mae have announced they are halting home foreclosures until March 6, 2009, while the Obama administration develops its policy for helping the U.S. housing market. [read post]
4 Feb 2009, 7:44 am
In the US, securitised credit has also played a major role in mortgage lending since the creation of Fannie Mae in the 1930s; and securitisation had been playing a steadily increasing role in the global financial system and in particular in the American financial system for a decade and a half before the mid-1990s. [read post]
31 Jan 2009, 6:54 am
• Morgan Stanley announced that it is considering laying off another 5% of its workforce. [read post]
21 Jan 2009, 7:10 am
In an attempt to shore up its core business and boost investor confidence, Citi and Morgan Stanley reached a definitive joint venture agreement to create a new brokerage unit to be known as Morgan Stanley Smith Barney.The deal is, not surprisingly, a good news/bad news situation for Citi. [read post]