Tag Archives: mortgage portfolio

We’ve Socialized The American Dream

Here’s an excellent investing report. It notes that while private banks are saying no, the government is saying yes. Almost all new mortgages issued over the past couple of years have been bought by Fannie Mae and Freddie Mac. Without … Continue reading

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Bank of America Settles Another Countrywide Suit

The bank just paid out $600 million to a New York agency. Bank of America must be ruing the day it bought Countrywide and Merril Lynch and did irreparable damage to its stock price. The New York Times reports: The … Continue reading

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FDIC Chief In Middle Of Bank Storm

From Boston.com: Funny, Sheila Bair never made any list of the world’s most powerful women while she was teaching financial regulation at the University of Massachusetts in Amherst. Congress and the rest of Washington are watching the FDIC’s sweeping new … Continue reading

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FHA Lost Over $4 Billion

From the New York Times: WASHINGTON — The Federal Housing Administration expects to lose $4.6 billion because of unexpectedly high default rates on home loans, officials said Monday. Brian D. Montgomery, the F.H.A. commissioner, attributed the unanticipated losses primarily to … Continue reading

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Rising Delinquencies At GSEs

From the Washington Post: In a sign of continuing trouble in the housing market, mortgage delinquency rates doubled over a 12-month period at Fannie Mae and Freddie Mac, the two industry giants reported yesterday. Freddie Mac said its delinquency rate … Continue reading

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Mortgage Default Jump

CHICAGO -(Dow Jones) – Home loans reported as delinquent to a mortgage insurer trade group surged in April, when a major home lender tightened up its policy for reporting past-due mortgages. The Mortgage Insurance Companies of America said Friday that … Continue reading

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Israeli Bank Trying To Sell Its Mortgage Portfolio

Haaretz reports on a troubled Israeli bank — Hapoalim. It appears to be up for sale. It wants to sell its mortgages and is willing to take a $1 billion loss. Ouch. The Jews may have invented banking but they … Continue reading

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