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Home | Tag Archives: Freddie Mac

Tag Archives: Freddie Mac

HSBC Agrees to Pay $550M in RMBS Settlement

gavel

In a settlement announced Friday, HSBC agreed to pay $550 million to FHFA to resolve allegations it violated state and federal securities laws in its selling of private-label securities to the GSEs between 2005 and 2007. HSBC stopped issuing and distributing MBS in 2007.

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CBO: Eliminating Fannie Mae, Freddie Mac Would Save Billions

cutting-money

The Congressional Budget Office (CBO) released a cost estimate on Friday for S. 1217, a senate bill proposed June 2013 by Senator Bob Corker (R-Tennessee) that would eliminate GSEs Fannie Mae and Freddie Mac and replace them with a private insurance company system with a government backstop. According to the newly-released estimate, removing the two GSEs would save the government billions of dollars in the next 10 years.

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Freddie Mac: Mortgage Rates Stay Level

unboxing-house

While it's been a tame summer for mortgage rate movements, analysts at Bankrate say it's only a matter of time before that steadiness ends, especially as economic improvements spur policymakers at the Federal Reserve to stop holding interest rates down as much.

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Analyst Warns of Potential Mortgage Crisis

mortgage-mess

With the Federal Reserve on track to end its monthly bond purchases (currently at a rate of $25 billion and falling), Bove cautions that the loss of one of the tools used to help lift housing out of its post-recession rut could hurt the market, especially as interest rates start to tick back up.

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Bank of America Requests Dismissal of ‘Hustle’ Case Verdict

money-four

The case revolves around mortgages originated through Countrywide's High Speed Swim Lane (HSSL, or "Hustle") program that were later sold to Fannie Mae and Freddie Mac. The complaint against Bank of America alleged that Countrywide—which the bank purchased in 2008—threw out quality controls in pursuit of higher volumes and then misrepresented those loans to the GSEs.

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Freddie Mac Reports Little Movement in Mortgage Rates

money-stepping-stones

Adjustable rates also moved little, Freddie Mac reported. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent (0.5 point) for the week, up from 2.95 percent in the previous survey. The 1-year ARM averaged 2.39 percent (0.5 point), up barely from 2.38 percent before.

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