Mortgage Investment

(FMCC) New Short Sale Guidelines from GSEs

Homeowners of underwater properties have a reason to rejoice thanks to the introduction of new guidelines from the two government-sponsored enterprises (GSEs) – Fannie Mae (FNMA) and Freddie Mac (FMCC)....

27Aug2012 | | Comments Off on (FMCC) New Short Sale Guidelines from GSEs | Continued

(FMCC) U.S. Banks Stock Outlook – Aug. 2011 – Industry Outlook

Whatever be the impending economic state, U.S. banks — the lifeblood of the economy — are actively responding to every legal and regulatory pressure. In fact, this prompt responsiveness has positioned the banks well to encounter upcoming challenges.

Along with improving results...

11Aug2011 | | 0 comments | Continued

(MFA) MFA Financial Hikes Dividend

MFA Financial, Inc. (MFA) a real estate investment trust (REIT), recently hiked its quarterly cash dividend by $0.235 to $0.25 per share.This reflects a 6.4% increase from the company’s prior dividend payout. The increased dividend...

6Jul2011 | | 0 comments | Continued

(NYMT) New York Mortgage Trust Issues Public Offering

New York Mortgage Trust, Inc. (NYMT) recently announced the commencement of an underwritten public offering of 2 million shares. To provide cover for over allotments, New York Mortgage also plans to offer an option...

29Jun2011 | | 0 comments | Continued

(HF) HFF Secures Funding

HFF Inc. (HF) has secured $134.76 million in financing for a 13-property mixed-use portfolio spanning 2.8 million square feet throughout the United States.

The portfolio is 90.0% leased and includes industrial, office, multi-housing...

22Jun2011 | | 0 comments | Continued

(IVR) Invesco Mortgage Capital Announced Stock Offering

Yesterday, Invesco Mortgage Capital Inc. (IVR) announced its plan to offer 15 million shares of its common stock. Underwriters will be permitted a 30-day option to purchase up to an added 2.25 million shares to cover over-allotments.

Credit...

22Jun2011 | | 0 comments | Continued

(ANH) Company News for May 06, 2011 – Corporate Summary

•    Career Education Corp.’s (NASDAQ:CECO) shares gained 7.43% after the for-profit educator reported a first-quarter profit topping estimates on Wednesday

•    Trucking company Con-way Inc.’s (NYSE:CNW)...

6May2011 | | 0 comments | Continued

(FMCC) U.S. Banks Stock Update – January 2011 – Industry Outlook

Although a major recovery in the asset markets has been witnessed in recent quarters, the outlook for the U.S. banking industry remains in question due to several negatives, including asset-quality troubles, the continuation of both residential and commercial real estate loan defaults and the impact...

31Jan2011 | | 0 comments | Continued

(FMCC) Fannie Mae and Freddie Mac Reports Losses in Billions

According to a report published by Federal Housing Finance Agency (“FHFA”) on Thursday, government-backed mortgage finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC)...

29Aug2010 | | 0 comments | Continued

(FMCC) Four Banks May Face $42 Billion Mortgage Repurchase Loss

The four largest U.S. banks may incur losses of up to $42 billion if housing finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC) force them to repurchase faulty...

19Aug2010 | | 0 comments | Continued

(FMCC) Freddie Mac Loss Narrows

Freddie Mac’s (FMCC) second quarter 2010 net loss came in at $1.85 per share, substantially lower than the prior quarter loss of $2.45. However, this compares unfavorably with a net loss of 26 cents per share in the year-ago quarter.

With...

10Aug2010 | | 0 comments | Continued

(FNM) Case Schiller Home Price Index Shows U.S. Home Prices Rose in May

The Case Schiller Home Price Indexes were generally higher in May. On a seasonally adjusted basis (and there is significant seasonality to home prices, so looking at the unadjusted numbers the way that most of the media does is a serious mistake) both the Composite 20 (C20) and Composite...

27Jul2010 | | 0 comments | Continued

(FNM) U.S. Housing Prices Mixed in March

The Case Schiller indexes showed that housing prices were mixed in March on a seasonally adjusted basis. Since there is a distinct seasonality to housing prices (they tend to go up in the spring and down in the winter), those are the numbers that should be focused on. Many of the press reports you...

25May2010 | | 0 comments | Continued

(FNM) U.S. Employment Numbers Seem to Be Stalling

Initial Claims for Unemployment Insurance, or “initial jobless claims,” rose by 25,000 last week to 471,000, well by 27,000 if you count the fact that last week’s claims were revised up by 2,000. That caused the four-week moving average, which is considered...

20May2010 | | 0 comments | Continued

(FNM) Federal Reserve Stays On Hold With Interest Rates – In-Depth

As expected, the Federal Reserve left the federal funds rate unchanged at its meeting today. Below, we present statements from the current meeting along with statements from the late January meeting, with my commentary and interpretation (translation?) interspersed on a paragraph...

18Mar2010 | | 0 comments | Continued

($FRE) Freddie Mac’s Net Loss Widens

Freddie Mac’s (FRE) fourth quarter net loss came in at $2.39 per share, substantially higher than the Zacks Consensus Estimate of a loss of 80 cents. This also compares unfavorably with a net loss of $2.06 in the prior quarter.

Results...

25Feb2010 | | 0 comments | Continued

(FNM) Number of Homeowners Underwater Continues to Rise

First American Core logic just released its report on the number of homeowners who are underwater on their mortgages. The storm waters continue to rise.

In all, more than 11.3 million, or 24 percent, of all residential properties with mortgages, were underwater at the end of the fourth quarter...

24Feb2010 | | 0 comments | Continued

($FNM) Housing Prices Show Small Rise

The Case-Schiller housing price indexes were released this morning, and both the Composite 10 (C-10) and the Composite 20 (C-20) showed monthly increases of 0.3% on a seasonally adjusted basis.

Since there is a fair amount of seasonality in housing prices, the seasonally adjusted numbers are...

23Feb2010 | | 0 comments | Continued

(FNM) Fed Chairman Ben Bernanke on Exit Strategy

Fed Chairman Ben Bernanke was scheduled to testify on Capitol Hill this morning, but because the Capitol was frozen (by the weather, not just by filibusters) the hearing was cancelled. However, he did release his prepared testimony.

In general, in his remarks about monetary policy, Bernanke...

12Feb2010 | | 0 comments | Continued

($FRE) Mortgage Delinquencies Still Rising

Freddie Mac (FRE) reported that the serious single family delinquency rate for mortgages in its portfolio rose to 3.87% in December from 3.72% in November, an increase of 15 basis points. Serious delinquencies are mortgages where the...

29Jan2010 | | 0 comments | Continued

(FNM) Initial Jobless Claims Greater Than Expected

We got mixed news in the Initial Claims for Unemployment Insurance report. This week, initial jobless claims fell by 8,000 to 470,000, and last week’s figure was revised down to 478,000 from 482,000. However, the level was well above the consensus expectation of 450,000.

The decline and the...

28Jan2010 | | 0 comments | Continued

($FNM) Federal Reserve Paid $46.1Billion to Treasury in 2009

The Federal Reserve paid a record $46.1 billion in profits for 2009 to the U.S. Treasury as the central bank earned a record net income of $52.1 billion, up 46.8% year-over-year by exposing taxpayer money to risk in an effort to stabilize the financial system last year.

The payment represents...

13Jan2010 | | 0 comments | Continued

(FNM) Housing and Rental Data

Many of the government efforts to help the housing market, such as the Fed buying up fully one quarter of all the mortgage-backed securities backed by Fannie Mae (FNM), Freddie Mac (FRE)...

8Jan2010 | | 0 comments | Continued

(IVR) Invesco Mortgage Capital Will Offer 7 Million Shares

Invesco Mortgage Capital Inc. (IVR) said on Wednesday that it intends to commence a public offering of 7 million shares of its common stock.

Invesco Mortgage will grant the underwriters a 30-day option to purchase up to 1.05...

7Jan2010 | | 0 comments | Continued

(FNM) Pay Czar Says Fannie Mae and Freddie Mac Are Being Discriminated Against

U.S. pay czar Kenneth Feinberg said on Wednesday that mortgage finance giants Fannie Mae (FNM) and Freddie Mac (FRE) are being discriminated, with...

31Dec2009 | | 0 comments | Continued

(FNM) Mortgage Giants Fannie Mae & Freddie Mac Find Support

The U.S. Treasury announced late last week that it would offer significant new financial support to the stressed mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE),...

28Dec2009 | | 0 comments | Continued

(FRE) Freddie Mac Suspends Evictions

Freddie Mac (FRE) said on Thursday that it has ordered the suspension of all evictions involving occupied single family and 2-4 unit properties that have been foreclosed and had Freddie Mac-owned mortgages for about two weeks during...

18Dec2009 | | 0 comments | Continued

(FNM) No Rate Change at the Federal Reserve

The Fed just wrapped up its last FOMC meeting of the year, and as expected it did not change the fed funds rate. The policy statement was substantially the same as the one they released after the last meeting in early November. While the Fed Funds rate is not going up anytime...

16Dec2009 | | 0 comments | Continued

(FNM) Third Quarter GDP Growth Revised to 2.8%

This is a revision to the post I put up when the first cut at the GDP report came out on 10/30.  In it the new numbers are in bold and the original estimates are put in parentheses, thus a number in parentheses does not mean that it has a negative value (those...

25Nov2009 | | 0 comments | Continued

(FNM) Existing Home Sales Soar Again

In October, existing home sales rose by 10.1% and are now 23.5% above the year-ago rate. Sales were at a seasonally adjusted annual rate of 6.10 million, up from 5.54% in September and a 4.94 million pace a year ago.

Existing single family home sales rose by 9.7% to a 5.33 million pace, while...

23Nov2009 | | 0 comments | Continued