Tag Archives: bloomberg

Changing The Debate On Mortgage Finance

In 2010, Congress passed and President Obama signed a massive financial regulation bill called Dodd-Frank. As with the healthcare bill, almost all of those who voted yes had not read the bill. Nobody knew what it would do because important … Continue reading

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Aussies Suffering From Mortage Stress

From ABC: New figures show mortgage stress is now a problem for a higher proportion of regional home owners than city dwellers. Figures from the Mortgage and Finance Association show about 40 per cent of people living in regional Australia … Continue reading

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Australian Mortgage Delinquencies Rise

May 27 (Bloomberg) — Australia‘s delinquencies on mortgages to people with good credit histories rose in February to the highest in 11 months, according to Standard & Poor’s. Arrears rose in February because of Christmas credit spending, volatility in global … Continue reading

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USB Mortgage Losses

May 26 (Bloomberg) — UBS AG, the European bank hardest hit by the U.S. subprime contagion, fell the most in more than two months in Swiss trading after saying it may face more losses from mortgage securities. UBS declined 1.74 … Continue reading

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GE Selling Its Aussie Mortgage Unit

May 26 (Bloomberg) — General Electric Co. may decide this week to sell Wizard Home Loans, which sells about 2.5 percent of Australia’s mortgages, the Australian newspaper reported without citing anyone. GE Money bought Wizard for more than A$500 million … Continue reading

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Foreign Banks Back Fannie Mae, Freddie Mac

From Reuters: Foreign central banks held $931.9 billion of agency and mortgage-backed securities issued by Fannie Mae, Freddie Mac and other government-sponsored enterprises as of May 14, according to the Federal Reserve. Freddie Mac and Fannie Mae are public companies … Continue reading

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Equalizing Refinance Risk

From Bloomberg: Fannie announced it will now accept mortgages with a loan-to-value (LTV) ratio of up to 97 percent on a primary, single-family residence, even in areas where prices are declining. “Fannie should be making loans, but the underwriting standards … Continue reading

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Australia’s Bond Market

May 16 (Bloomberg) — Australia‘s market for securities backed by residential mortgages, which ground to a standstill last year amid the global credit squeeze, shows signs of improving, said Guy Debelle, a Reserve Bank assistant governor. Debelle, whose speech didn’t … Continue reading

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Merrill Lynch’s Mortgage Mess

Bloomberg reports on the departure of Scott Soltas from Merrill Lynch. Soltas headed Merrill’s global mortgage operation. The bloke is only 46 but he took the retirement package offered him. Nice knowing you, mate. Merrill Lynch lost almost $32 billion … Continue reading

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Hillary Clinton’s Solutions To The Credit Crisis

Business Week reports that Hillary Clinton sees a massive opportunity with America’s mortgage problem. When Bear Stearns went belly up, all the candidates talked about it but Hillary said she had talked that morning with Treasury Secretary Henry M. Paulson … Continue reading

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