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DS News Webcast: Tuesday 11/25/2014

As part of a continuing effort to wind down the government's Troubled Asset Relief Program to bail out banks devastated by the financial crisis of six years ago, the U.S. Department of Treasury recently auctioned off preferred stocks for three institutions, gaining $35.6 million dollars in aggregate gross proceeds. The auction was part of Treasury's effort to recover remaining investments in the Capital Purchase Program. Treasury had outstanding investments in 39 CPP institutions heading into last week's auction.

Treasury sold 30,000 shares of stock in First United Corporation of Oakland, Maryland, at slightly more than $1,000 per share for aggregate gross proceeds totaling just more than $30 million to account for most of the proceeds gained in the auction. Other institutions for which Treasury sold stocks in the auction were Lone Star Bank of Houston, Texas, and Porter Bancorp of Louisville, Kentucky. Between those two institutions, Treasury sold about $5.5 million  worth of securities.

The Federal Housing Finance Agency has announced its strategic plan for the fiscal years 2015 through 2019, reflecting the FHFA's priorities as a regulator and conservator of government-sponsored enterprises Fannie Mae and Freddie Mac as well as regulator of the 12 Federal Home Loan Banks. The strategic plan outlines three goals for the FHFA for the forthcoming fiscal years: ensure safe and sound regulated entities; ensure liquidity, stability, and access in housing finance; and manage the enterprises' ongoing conservatorship.

About Author: Jordan Funderburk

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