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

vitalstocks — Fri, 12 Aug 2011 01:38:45 +0000

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 in recent quarters, a major recovery in the asset markets, improving balance sheets [...]

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

(MFA) MFA Financial Hikes Dividend

vitalstocks — Wed, 06 Jul 2011 15:39:00 +0000

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 will be paid on July 29, 2011, to stockholders of record as of June 14, 2011.This increase in quarterly dividend [...]

(MFA) MFA Financial Hikes Dividend

(NYMT) New York Mortgage Trust Issues Public Offering

vitalstocks — Wed, 29 Jun 2011 15:38:35 +0000

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 to the underwriters of purchasing an additional 300,000 shares. New York Mortgage expects to utilize the proceeds generated from the transaction [...]

(NYMT) New York Mortgage Trust Issues Public Offering

(HF) HFF Secures Funding

vitalstocks — Wed, 22 Jun 2011 21:07:27 +0000

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 and retail properties located in eight states. The loan is collateralized by all 13 properties and is categorized into three, five-seven, and [...]

(HF) HFF Secures Funding

(IVR) Invesco Mortgage Capital Announced Stock Offering

vitalstocks — Wed, 22 Jun 2011 15:00:13 +0000

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 Suisse Securities (USA) LLC, a subsidiary of Credit Suisse (CS) and Morgan Stanley & Co. LLC, a [...]

(IVR) Invesco Mortgage Capital Announced Stock Offering

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

vitalstocks — Fri, 06 May 2011 15:15:19 +0000

• 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) shares rose 5.16% to close at $39.54 after the company reported first-quarter profits beating the Street’s expectations • INC Research LLC said it would buy clinical research group Kendle [...]

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

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

vitalstocks — Mon, 31 Jan 2011 18:50:21 +0000

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 of tighter regulations and policy changes. After enduring extraordinary shocks [...]

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

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

vitalstocks — Mon, 30 Aug 2010 04:51:04 +0000

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) lost $226 billion in capital in the last three years. As these two mortgage finance companies have absorbed $148 billion in taxpayers’ money since their takeover two years ago to keep [...]

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

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

vitalstocks — Thu, 19 Aug 2010 18:07:21 +0000

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 mortgages, Fitch Ratings stated on Wednesday. The four banks are JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Corp. (BAC) and Wells Fargo & [...]

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

(FMCC) Freddie Mac Loss Narrows

vitalstocks — Wed, 11 Aug 2010 01:29:18 +0000

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 some early signs of stabilization in the housing market, Freddie Mac expects low mortgage [...]

(FMCC) Freddie Mac Loss Narrows

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

vitalstocks — Tue, 27 Jul 2010 18:34:53 +0000

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 10 (C10) indexes rose by 0.47% for [...]

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

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

vitalstocks — Tue, 25 May 2010 22:22:46 +0000

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 will [...]

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

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

vitalstocks — Fri, 21 May 2010 05:48:44 +0000

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 to be a better measure given the week-to-week volatility in the numbers, to [...]

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

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

vitalstocks — Thu, 18 Mar 2010 19:08:08 +0000

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 by paragraph basis. “Information received since the Federal Open Market Committee met in January [...]

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

($FRE) Freddie Mac’s Net Loss Widens

vitalstocks — Thu, 25 Feb 2010 23:16:24 +0000

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 for the quarter exclude the preferred dividend of $1.3 million paid to the U.S. [...]

($FRE) Freddie Mac’s Net Loss Widens

(FNM) Number of Homeowners Underwater Continues to Rise

vitalstocks — Wed, 24 Feb 2010 18:48:33 +0000

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 of 2009, up from 10.7 million [...]

(FNM) Number of Homeowners Underwater Continues to Rise

($FNM) Housing Prices Show Small Rise

vitalstocks — Wed, 24 Feb 2010 03:05:20 +0000

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 the ones to look at. On a year-over-year basis, [...]

($FNM) Housing Prices Show Small Rise

(FNM) Fed Chairman Ben Bernanke on Exit Strategy

vitalstocks — Fri, 12 Feb 2010 17:41:08 +0000

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 addressed the “how” of draining the huge amount of [...]

(FNM) Fed Chairman Ben Bernanke on Exit Strategy

($FRE) Mortgage Delinquencies Still Rising

vitalstocks — Sat, 30 Jan 2010 00:41:15 +0000

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 homeowner is more than 90 days behind on their payments, but have not yet been foreclosed on. The [...]

($FRE) Mortgage Delinquencies Still Rising

(FNM) Initial Jobless Claims Greater Than Expected

vitalstocks — Thu, 28 Jan 2010 20:24:25 +0000

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 revision to the prior week were not [...]

(FNM) Initial Jobless Claims Greater Than Expected

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

vitalstocks — Wed, 13 Jan 2010 17:42:35 +0000

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 an increase of $14.4 billion [...]

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

(FNM) Housing and Rental Data

vitalstocks — Fri, 08 Jan 2010 20:29:31 +0000

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) and Ginnie Mae, as well as the “first time” homebuyer tax credit, are designed to move people from being renters to being owners. [...]

(FNM) Housing and Rental Data

(IVR) Invesco Mortgage Capital Will Offer 7 Million Shares

vitalstocks — Thu, 07 Jan 2010 17:53:07 +0000

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 million additional shares to cover over-allotments. The company intends to use the proceeds from the offering for [...]

(IVR) Invesco Mortgage Capital Will Offer 7 Million Shares

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

vitalstocks — Thu, 31 Dec 2009 18:33:49 +0000

U.S. pay czar Kenneth Feinberg said on Wednesday that mortgage finance giants Fannie Mae (FNM) and Freddie Mac (FRE) are being discriminated, with respect to pay restrictions, from other companies receiving significant financial support from the government as they countenance a unique set of problems. The pay czar, who decides compensation-packages for the highest-paid employees [...]

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

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

vitalstocks — Mon, 28 Dec 2009 18:03:06 +0000

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), notwithstanding their performances for the next 3 years. This move by the Fed follows the recent repayment of bailout money by the nation’s biggest financial institutions. To keep [...]

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

(FNM) Rethinking Foreclosure: Is There a More Sensible Way?

InvestmentU — Wed, 23 Dec 2009 00:48:48 +0000

by Robert Williams, Publisher Tuesday, December 22, 2009 Fannie Mae (FNM), which facilitates the lending of almost one in four U.S. residential mortgages, says the recent 11% jump in home sales is proof-positive that the three-year housing slump may end in 2010. The reality is that we have a ton of excess inventory to burn [...]

(FNM) Rethinking Foreclosure: Is There a More Sensible Way?

(FRE) Freddie Mac Suspends Evictions

vitalstocks — Sat, 19 Dec 2009 00:07:17 +0000

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 the holiday season. The period of suspension will be from Dec 19, 2009 to Jan 3, 2010. Freddie [...]

(FRE) Freddie Mac Suspends Evictions

(FNM) No Rate Change at the Federal Reserve

vitalstocks — Wed, 16 Dec 2009 23:08:30 +0000

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 soon, the Fed [...]

(FNM) No Rate Change at the Federal Reserve

(FNM) Third Quarter GDP Growth Revised to 2.8%

vitalstocks — Wed, 25 Nov 2009 18:36:46 +0000

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 will have [...]

(FNM) Third Quarter GDP Growth Revised to 2.8%

(FNM) Existing Home Sales Soar Again

vitalstocks — Tue, 24 Nov 2009 05:49:52 +0000

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 condo [...]

(FNM) Existing Home Sales Soar Again

(FRE) Freddie Mac Gets Boost From Government Program

vitalstocks — Wed, 11 Nov 2009 00:02:28 +0000

Freddie Mac’s (FRE) third quarter net loss (available to common shareholders) came in at $1.94 per share, compared to a net loss of 11 cents in the prior quarter and $19.44 in the prior-year quarter. Results for the quarter exclude the preferred dividend of $1.3 million paid to the U.S. Department of the Treasury on [...]

(FRE) Freddie Mac Gets Boost From Government Program

(FNM) The Fed Stays on Easy Street

vitalstocks — Wed, 04 Nov 2009 22:26:38 +0000

The Federal Reserve decided to keep the Federal Funds rate unchanged at the meeting it concluded today, as expected. Below is the current Fed Statement along with the one from their September meeting in paragraph-by-paragraph format, with my translation and commentary interspersed. As the graph below shows, the market is expecting the Fed to remain [...]

(FNM) The Fed Stays on Easy Street

(NLY) As the Dow Cracks 10,000 – What’s Next for the Market?

InvestmentU — Tue, 20 Oct 2009 20:27:34 +0000

by Dr. Mark Skousen, Contributing Editor Monday, October 19, 2009: Issue #1118 Last week, my “crazy prediction” came true. In the March issue of my newsletter, Forecasts & Strategies, I published a chart, which illustrated the maximum pessimism in the stock market. The difference was, though, that while most other people were running away from [...]

(NLY) As the Dow Cracks 10,000 – What’s Next for the Market?

(FRE) Freddie Mac Marks Rising Mortgage Rates

vitalstocks — Fri, 28 Aug 2009 23:10:39 +0000

Freddie Mac (FRE) announced Thursday that U.S. mortgage rates for 30-year fixed home loans rose 0.02 basis points this week, as the year’s record low borrowing costs produced the biggest jump in new home purchases in four years. The average 30-year rate increased to 5.14% from 5.12% in the previous week. The mortgage rate was [...]

(FRE) Freddie Mac Marks Rising Mortgage Rates

(FRE) Freddie Mac’s Mortgage Volume Metrics for July

vitalstocks — Wed, 26 Aug 2009 20:51:43 +0000

Freddie Mac (FRE) reported its monthly volume metrics for July 2009. Highlights for the month are as follows: The total mortgage portfolio decreased at an annualized rate of 3.3% in July to $2.2 billion. Refinance-loan purchase volume was $34.1 billion in July, down 33.0% from $50.9 billion in June. The aggregate unpaid principal balance of [...]

(FRE) Freddie Mac’s Mortgage Volume Metrics for July

(FRE) Taylor Bean & Whitaker Mortgage Files for Bankruptcy

vitalstocks — Tue, 25 Aug 2009 20:55:18 +0000

Yesterday, Taylor, Bean & Whitaker Mortgage Corporation filed for Chapter 11 bankruptcy protection after it was forced to shutter its mortgage lending operations earlier this month. The Ocala, Florida-based company had captured 1.7% market share nationwide by creating $17 billion of mortgage loans from January to June, 2009. On that basis, it was the 12th [...]

(FRE) Taylor Bean & Whitaker Mortgage Files for Bankruptcy

($FNM) Notes on Fed Statement – economic activity is likely to remain weak for a time

vitalstocks — Wed, 12 Aug 2009 23:44:03 +0000

The Federal Reserve released the following statement after its meeting today. It is presented along with the previous statement, and my interpretation of the differences on a paragraph-by-paragraph basis. “Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in [...]

($FNM) Notes on Fed Statement – economic activity is likely to remain weak for a time

(FRE) U.S. Banks – Zacks Analyst Interviews

vitalstocks — Tue, 16 Jun 2009 22:42:06 +0000

The worst of the credit crisis is now probably behind us, but the banking system is not yet out of the woods, as there are still many significant challenges ahead. Ten of the nation’s largest banks have received the Treasury approval for TARP repayment, as they are now able to tap the debt markets without [...]

(FRE) U.S. Banks – Zacks Analyst Interviews

(FNM) After the Madoff-Ponzi, The Lesson’s Clear

InvestmentU — Sat, 27 Dec 2008 00:06:43 +0000

After the Madoff-Ponzi, The Lesson’s Clear Everyone’s scrambling… House subcommittee chairman Paul Kanjo wants to launch a government investigation. Outgoing SEC Chairman Chris Cox is “gravely concerned by the apparent multiple failures” of the SEC. He too, wants to get to the bottom of this. And of course, House Financial Services Committee chairman Barney Frank, [...]

(FNM) After the Madoff-Ponzi, The Lesson’s Clear

(FRE) Words from the (investment) wise for the week that was (August 25 – 31, 2008)

prieur — Mon, 01 Sep 2008 08:40:10 +0000

The gyrations of financial markets ahead of the Labor Day weekend tested the patience of bulls and bears alike. As big swings took place in thinly-traded markets, I was reminded of Albert Schweitzer’s words: “As we acquire more knowledge, things do not become more comprehensible but more mysterious.” None the wiser, I also did not [...]

(FRE) Words from the (investment) wise for the week that was (August 25 – 31, 2008)

(FNM) Words from the (investment) wise for the week that was (July 21 – 27, 2008)

prieur — Fri, 01 Aug 2008 16:00:14 +0000

Financial markets witnessed another roller-coaster week as renewed concerns about the global economy and the health of the financial sector surfaced, resulting in a mixed week for world stock and bond markets, an improved US dollar and continued weakness in oil and commodities. Source: Lisa Benson, Slate US stocks plummeted on Thursday after two days [...]

(FNM) Words from the (investment) wise for the week that was (July 21 – 27, 2008)

(FNM) Words from the (investment) wise for the week that was (July 14 – 20, 2008)

prieur — Fri, 01 Aug 2008 16:00:12 +0000

The end is nigh was what many despondent investors were starting to believe as the past week kicked off with volatile trading amid concerns that US regional bank IndyMac’s demise was a harbinger of many more bank failures. Furthermore, Treasury Secretary Henry Paulson’s plan to rescue the Government Sponsored Enterprises (GSEs), Fannie Mae (FNM) and [...]

(FNM) Words from the (investment) wise for the week that was (July 14 – 20, 2008)

(FNM) Words from the (investment) wise for the week that was (July 7 – 13, 2008)

prieur — Fri, 01 Aug 2008 16:00:11 +0000

“Finance is the art of passing money from hand to hand until it finally disappears,” said Robert W. Sarnoff. This is certainly the way it looked last week as the fall-out of the credit crisis deepened. Markets had investors feeling dazed and confused after another roller-coaster week amid further evidence of the deteriorating health of [...]

(FNM) Words from the (investment) wise for the week that was (July 7 – 13, 2008)

(FNM) Words from the (investment) wise for the week that was (July 21 – 27, 2008)

prieur — Sun, 27 Jul 2008 22:40:12 +0000

(FNM) Words from the (investment) wise for the week that was (July 21 – 27, 2008)

(FNM) Words from the (investment) wise for the week that was (July 14 – 20, 2008)

prieur — Sun, 20 Jul 2008 20:40:45 +0000

The end is neigh was what many despondent investors were starting to believe as the past week kicked off with volatile trading amid concerns that US regional bank IndyMac’s demise was a harbinger of many more bank failures. Furthermore, Treasury Secretary Henry Paulson’s plan to rescue the Government Sponsored Enterprises (GSEs), Fannie Mae (FNM) and [...]

(FNM) Words from the (investment) wise for the week that was (July 14 – 20, 2008)

(FNM) Words from the (investment) wise for the week that was (July 7 – 13, 2008)

prieur — Sun, 20 Jul 2008 20:40:29 +0000

(FNM) Words from the (investment) wise for the week that was (July 7 – 13, 2008)