A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.
Tags: Freddie Mac
PCI On Getting More Mascular
The Property Casualty Insurers Association of America (PCI) is strengthening its adherance to its rules and policies.
U.S. housing regulator seeks support from housing finance giants for low-income Americans
The Federal Housing Finance Agency seeks to have housing finance giants Fannie Mae and Freddie Mac to offer more support for American families with low income who are taking out mortgages and are refinancing their home loans.
Claren Road Investors want their money back; Prepares to pull out $2B from the hedge fund
Thinking that Claren Road Asset Management has come to the end of the road, Investors are ready to pull half of their money out of the company, which is another blow for the Carlyle Group LP's firm.
U.S. housing regulator to unveil mortgage fees framework in 2015
The top U.S. housing finance regulator said on Wednesday his agency would unveil a new framework in early 2015 for how government-controlled Fannie Mae and Freddie Mac will set mortgage guarantee fees.
Latest News
The Hustle, as it was known, rewarded volume instead of quality for mortgages sold by Bank of America to Fannie Mae and Freddie Mac.
JPMorgan to pay FHFA USD5.1 billion as settlement for loans and mortgage backed securities issues. A settlement agreement was finalized between JPMorgan Chase & Co and the Federal Housing Finance Agency on claims over defective home loans and mortgage backed securities.
US District Judge Jed Rakoff had set a hearing on the issues and a date for his rulings by December on the civil case against Countrywide Financial Corp's defective loan transactions with Fannie Mae and Freddie Mac.
In a telephone interview, mortgage industry experts say that the shutdown would not only delay approvals but also put banks at risk as they work around the government's lack of services.
Freddie Mac announced its new chief financial officer, James Mackey, a top executive in Ally Financial Inc. last Monday.
Wells Fargo & Co. said last Monday that it would pay USD780 million in cash to Freddie Mac to settle all repurchased home loans liabilities.
Bank of America would go on trial this week over fraud charges related to home mortgages which was alleged to defraud Fannie Mae and Freddie Mac.
Bethany McLean of Reuters wrote that it would be a challenge to remove government sponsored enterprises from the US mortgage market.
Obama reopened issue on Fannie Mae and Freddie Mac to spur delayed housing policies reforms. US President Barack Obama recently revisited the issue on the need for major reforms on the housing market policies.
