All Posts Tagged With: "FNM"
(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 (
8Jan2010 | vitalstocks | 0 comments | Continued(C) Looking Ahead to a Decade of Zeroes
A decade ago when the ball fell in Times Square, there was an enormous sense of both optimism about the future and relief that the world did not come to an end. I’m not talking about some sort of round-figure Armageddon, but the much more real fear back then that all the...
(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...
(BAC) Report Shows Initial Jobless Claims Still Falling
Initial claims for unemployment insurance continued their descent this week, falling by 22,000 to 432,000. This was well below consensus expectations of 460,000 new claims.
The 4-week moving average also fell, but not as sharply, down 5,500 to 460,250. Given the inherent...
(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 (
28Dec2009 | vitalstocks | 0 comments | Continued(FNM) Rethinking Foreclosure: Is There a More Sensible Way?
by Robert Williams, Publisher
Tuesday, December 22, 2009
Fannie Mae...
(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...
(JPM) JPMorgan Chase & Company Adds More Mortgage Centers
JPMorgan Chase & Company (JPM) said on Wednesday that it will substantially increase its nationwide network by adding 24 more Chase Homeownership Centers to help homeowners who are at risk of mortgage...
(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...
(UDR) UDR Repays Term Loan
UDR Inc. (UDR), a leading multifamily real estate investment trust (REIT), has recently repaid its term loan maturing in 2010 by utilizing proceeds from a new term loan and by drawing down its unsecured bank...
($JPM) Total Debt in Economy Growing Slower
Yesterday, the Federal Reserve released its Flow of Funds report for the third quarter. This is the best overall tabulation of the total amount of debt in the economy. It looks at only non-financial debt; the debt taken on by banks like J.P. Morgan (
11Dec2009 | vitalstocks | 0 comments | Continued(CT) Avoid Regional Domestic Banks – Zacks Industry Rank Analysis
Industry Rank Analysis 11-25-09
Commercial real estate is in big trouble, with rising vacancy rates leading to lower effective rents. On top of that, the Cap rate, which is sort of like the P/E ratio...
(FNM) Third Quarter GDP Growth Revised to 2.8%
This is a revision to the post I put up when the first cut at the GDP report came out on 10/30. In it the new numbers are in bold and the original estimates are put in parentheses, thus a number in parentheses does not mean that it...
(BAC) Home Prices Continue to Rise
This morning the S&P Case-Schiller index was released. The Composite 20 index (C-20), which covers 20 of the largest metropolitan areas in the country rose by 0.27% on a seasonally adjusted basis (home prices are seasonal, so the adjusted data is what you should be looking...
(FNM) Existing Home Sales Soar Again
In October, existing home sales rose by 10.1% and are now 23.5% above the year-ago rate. Sales were at a seasonally adjusted annual rate of 6.10 million, up from 5.54% in September and a 4.94 million pace a year ago.
Existing single family home sales rose by 9.7% to...
($BAC) Mortgage Bankers Association Reports Mortgage Delinquencies at Record High
The Mortgage Bankers Association (MBA) reported today that mortgage delinquencies hit a record high in the third quarter:
“The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent...
(BAC) Mortgage Delinquencies Still Rising
This morning Trans Union, the big credit bureau, released its quarterly report on mortgage delinquencies, and it was not pretty. Nationwide, 6.25% of all residential mortgages were at least 60 days past due in the third quarter, up from 5.81% in the second quarter and 3.96%...
(KELYA) Economy Produces Weak Employment Report
The October employment report came in weaker than expected as the country lost 190,000 jobs, rather than the 175,000 expectation. It was, however, an improvement over the 219,000 lost in September, but worse than the 154,000 jobs lost in August. Both the September and August...
(AXP) More Information on Unemployment Duration
While I touched on unemployment duration at the end of my last blog, this is a very important subject and deserves a bit more elaboration. Quite simply being out of work for three or four weeks is a very different experience with very different...
(FNM) The Fed Stays on Easy Street
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...
(GS) Goldman Sachs Group Mulls Fannie Mae Tax Credits
Goldman Sachs Group Inc. (GS) is contemplating buying tax credits from Fannie Mae (FNM). However, it may be reasonable to assume that the...
(BZH) New Home Sales Sink – Credit Rising
In distinct contrast to the existing home sales report last week, new home sales were ugly in September, falling 3.6% for the month and down 7.8% year over year. The seasonally adjusted annual rate in September was 402.000 down from 417,000 in August, which was revised down...
(AGNC) Real Estate Investment Trusts – Positive Signals From Housing Market
Amid positive signals emanating from the uptick in housing prices and an improving outlook for consumer spending, the housing sector is gradually stabilizing. Both new and existing home sales have increased during the last four consecutive months and are now 32% and 17% above...
(CIT) A Rarity: The Small-Business Loan
Today’s New York Times has an excellent article on the...
($JPM) U.S. Bank Industry Reviewed – Analyst Interview
After enduring extraordinary shocks in 2008, U.S. banks entered an exceptional state of turmoil in 2009. Starting as a credit issue in the subprime segment of the mortgage market, the sticky situation spread to almost the entire financial services industry and all corners...
(EQR) Is the Federal Housing Administration Going Broke?
This morning’s New York Times has an important article on the Federal Housing Administration. The...
(BAC) More Bank Loses? – Employment Report in Depth
Ugly, just plain ugly — that’s the best way to describe the September employment report. The economy dropped 263,000 jobs in the month, and 7.2 million now since the start of the recession back in December of 2007. The total number of unemployed rose to 15.1 million,...
(FNM) Fed: Growth, No Near-Term Inflation
The Federal Reserve decided to keep the Fed Funds rate at its historically low level, and noted that growth was starting to pick up and there was very little threat of near-term inflation. The current statement and the one from the previous meeting...
(UDR) UDR Gets Fannie Mae Credit Facility Through Red Mortgage Capital
Real Estate Investment Trust UDR Inc. (UDR) recently obtained a $200 million secured credit facility originated by Red Mortgage Capital Inc., a premier Fannie Mae (FNM) lender.
The credit facility is collateralized by five...
(FNM) Fed Staying on Hold, Housing Up
Tomorrow afternoon all eyes will be on the Federal Reserve, which is currently holding one of its every-six-weeks get togethers. I and probably the rest of the world expect no change in the Fed Funds rate. It is currently near zero, so there is no room for further cuts, and...