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Tag Archives: Securities

Freddie Mac Report Shows Declining Portfolio Size

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A new report from Freddie Mac, the GSE’s latest monthly volume summary, found that the company’s mortgage portfolio has declined in each of the first three months of this year. The decline in March was the fastest annualized decline, and saw the total portfolio volume fall at a rate of 2.9 percent.

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Bank of America Legal Expenses Hurt Q1 Earnings

Bank of America’s first-quarter earnings were hit hard by legal expenses, resulting in a net loss of $276 million to start the year. The loss follows a profitable fourth quarter of 2013, which saw the bank taking in $3.4 billion. For the first quarter of 2013, BofA reported net income of $1.5 billion. The results for the first quarter include $6 billion in litigation expenses related to a major settlement the Federal Housing Finance Agency (FHFA) over legacy securities claims.

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Fed Survey Finds Increased Interest in RMBS

The Board of Governors of the Federal Reserve System released findings from its Senior Credit Officer Opinion Survey for March, 2014. The report found that credit officers are experiencing an increased demand for residential mortgage-backed securities (RMBS).

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Bank of America Settles with FHFA for $9.3B

Bank of America has agreed to a multibillion settlement with the Federal Housing Finance Agency (FHFA) to resolve allegations of securities fraud. According to announcements made by all parties involved, under the agreement, BofA will make an aggregate payment of approximately $9.33 billion, $3.2 billion of which will go toward the repurchase of certain RMBS at fair market value.

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