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Freddie Mac reports a $48.7 billion 2013 profit.

Freddie Mac reports a $48.7 billion 2013 profit. | Mortgage Industry Status | Scoop.it
Freddie Mac reported a record annual profit of $48.7 billion for 2013, powered by a strong rebound in U.S. home prices and a series of legal and accounting benefits that reversed earlier losses.
hot_shuz's insight:

Freddie and its larger rival, Fannie Mae, will have paid $202.9 billion to the U.S. government by March, exceeding the $187.5 billion that they received from the U.S.

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Fannie Mae reports $84 billion annual profit

Fannie Mae reports $84 billion annual profit | Mortgage Industry Status | Scoop.it
Fannie Mae will pay $7.2 billion to the U.S. Treasury next month after reporting an annual profit of $84 billion for 2013, meaning it will have paid dividends to the government that exceed the amount of aid it received from its 2008 bailout.
hot_shuz's insight:

significant because taxpayers will effectively have been made whole on the controversial bailouts.

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U.S. posts December budget surplus of $53.22 billion

U.S. posts December budget surplus of $53.22 billion | Mortgage Industry Status | Scoop.it
The U.S. posted a budget surplus in December after Fannie Mae and Freddie Mac posted big payments to the Treasury, further narrowing the deficit in the first quarter of the fiscal year
hot_shuz's insight:

Revenues outpaced spending by $53.22 billion in December, the first surplus for the month since the 2007 fiscal year and the biggest on record.

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New mortgage rules protect American dream: CFPB

New mortgage rules protect American dream: CFPB | Mortgage Industry Status | Scoop.it
Lenders will have to be more responsible when helping home buyers.
hot_shuz's insight:

Richard Cordray is the first director of the Consumer Financial Protection Bureau.

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3 Things Every Fannie Mae Investor Should Hear (FNMA)

3 Things Every Fannie Mae Investor Should Hear (FNMA) | Mortgage Industry Status | Scoop.it
Fannie Mae recently showed how it performed in November. Here are the three biggest takeaways investors need to know. - Patrick Morris - Financials
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Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich.

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Fannie-Freddie Settlement Tab in 2013: $7.9 Billion

Fannie-Freddie Settlement Tab in 2013: $7.9 Billion | Mortgage Industry Status | Scoop.it
Fannie Mae and Freddie Mac collected $7.9 billion last year in settlements with seven major financial institutions to resolve lawsuits filed by the firms' regulator, the Federal Housing Finance Agency said.
hot_shuz's insight:

Legal analysts expect the remaining cases to be settled before going to court because of a series of legal rulings that have largely undercut banks' efforts to narrow their potential liability.

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Alex J. Pollock: How Do You Solve a Problem Like Fannie?

Alex J. Pollock: How Do You Solve a Problem Like Fannie? | Mortgage Industry Status | Scoop.it
In The Wall Street Journal, Alex J. Pollock writes that with $3.3 trillion in assets, the mortgage giant ought to be a 'systemically important financial institution.'
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Flagstar to Sell Servicing Rights on $40.7 Billion Mortgages

Flagstar Bancorp Inc., the Michigan lender rescued by MatlinPatterson Global Advisers LLC in 2009, will sell servicing rights on $40.7 billion of mortgages to a unit of Two Harbors Investment Corp.
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FM Commentary: An Uneven Recovery in Household Wealth | Housing Industry Forum

FM Commentary: An Uneven Recovery in Household Wealth | Housing Industry Forum | Mortgage Industry Status | Scoop.it
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Foreclosure Inventory Drops 31% in October

Foreclosure Inventory Drops 31% in October | Mortgage Industry Status | Scoop.it
The foreclosure inventory rate drops to 2.2% of all mortgages from 3.1% a year earlier, but it remains elevated.
hot_shuz's insight:

"The scourge of an elevated foreclosure inventory is easing. In October, every state posted a year-over-year decline in completed foreclosures

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Fancy Foreclosures on the Rise

Fancy Foreclosures on the Rise | Mortgage Industry Status | Scoop.it
Luxury homes are beautiful to look at, but difficult to maintain according to a recent report. Despite the continued decline of foreclosure activity in the country, luxury properties are going into foreclosure at a rapid clip.
hot_shuz's insight:

foreclosure activity on homes in the $5 million-plus value range is up 61 percent from the same time period in 2012, according to RealtyTrac

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Will Warren Buffett's Berkshire Join Fannie, Freddie Privatization Effort?

Will Warren Buffett's Berkshire Join Fannie, Freddie Privatization Effort? | Mortgage Industry Status | Scoop.it
Berkshire Hathaway has a history of involvement with the government-backed mortgage lenders and may be interested in following the lead of Fairholme Capital in trying to take them private.
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Connecting with Borrowers | Housing Industry Forum

Connecting with Borrowers | Housing Industry Forum | Mortgage Industry Status | Scoop.it
hot_shuz's insight:

The MHCN is one of the ways Fannie Mae is working with servicers to help to bridge the gap

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Fannie Mae: Now Free From Debt But Still Under Government's Wing

Fannie Mae: Now Free From Debt But Still Under Government's Wing | Mortgage Industry Status | Scoop.it
With another $7.2 billion in payments to the Treasury Department, Fannie Mae is now in the black for the first time since it entered conservatorship in 2008. Yet Fannie's future is as murky as ever.
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U.S. Oct-Dec budget deficit narrows sharply: CBO

U.S. Oct-Dec budget deficit narrows sharply: CBO | Mortgage Industry Status | Scoop.it
WASHINGTON (Reuters) - The U.S. government's budget deficit fell by more than a third in the first three months of fiscal 2014 to $182 billion, including a $44 billion surplus in December, the Congressional Budget Office estimated on Wednesday.
hot_shuz's insight:

Government controlled mortgage finance groups Fannie Mae and Freddie Mac also contributed $34 billion more to the Treasury than during the year-ago period as their net worth improved.

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Home prices rise slightly in November

Home prices rise slightly in November | Mortgage Industry Status | Scoop.it
U.S. home prices barely rose in November from the previous month and year-over-year gains slowed, reflecting declines in sales in the fall.
hot_shuz's insight:

Home prices finished 2013 up 11.5% for the year, marking the best performance since 2005, market researcher CoreLogic.

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Most Economists Say Happy New Year — Really

Most Economists Say Happy New Year — Really | Mortgage Industry Status | Scoop.it
As 2014 begins, the U.S. is in the midst of a "classic bull market," says one forecaster.
hot_shuz's insight:

Recent job gains, stock price hikes and factory output advances are making a compelling case for growth,

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Fannie Mae, Freddie Mac may be too profitable to shut down

Fannie Mae, Freddie Mac may be too profitable to shut down | Mortgage Industry Status | Scoop.it
WASHINGTON — Federal officials swooped in to rescue mortgage finance giants Fannie Mae and Freddie Mac in 2008 with the largest of all the financial crisis bailouts — a combined $187.5 billion — because they were considered too big to fail.
hot_shuz's insight:
We're a country that's running huge deficits, and here are two government entities that are going to produce somewhere in the neighborhood of $40 billion to $50 billion a year for the government," said Guy Cecala, publisher of Inside Mortgage Finance Publications
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Fannie Mae - Economy Strengthens Heading Into 2014 As Cloudy Policy Debate Begins to Clear

Fannie Mae  - Economy Strengthens Heading Into 2014 As Cloudy Policy Debate Begins to Clear | Mortgage Industry Status | Scoop.it
Recent data show that the economy and housing market continue to transition to more normal levels of activity and are poised to gather further momentum heading into 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group.
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National Housing Survey: Cautious Consumers Stalling Housing Momentum | Housing Industry Forum

National Housing Survey: Cautious Consumers Stalling Housing Momentum | Housing Industry Forum | Mortgage Industry Status | Scoop.it
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Volcker Rule Contains New Hurdles for Banks on Market Making, Compensation

Volcker Rule Contains New Hurdles for Banks on Market Making, Compensation | Mortgage Industry Status | Scoop.it
hot_shuz's insight:

Bans banks from making bets with their own money and limits their ability to invest in certain trading vehicles, such as hedge funds and private-equity vehicles.

Regulators also will consider hedge funds, private equity and other funds that rely on certain Investment Company Act exemptions to be "covered" by the rule—meaning banks can't hold more than a 3% stake in such firms.

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Fannie Mae Mortgage-Guarantee Fees Increased by U.S. Overseer

Fannie Mae Mortgage-Guarantee Fees Increased by U.S. Overseer | Mortgage Industry Status | Scoop.it
Fannie Mae and Freddie Mac, the U.S.-owned mortgage-finance companies, will raise the fees they charge lenders to guarantee loans as part of an effort to shrink their presence in the mortgage market, the Federal Housing Finance Agency said.
hot_shuz's insight:

“The new pricing continues the gradual progression toward more market-based prices, closer to the pricing one might expect to see if mortgage credit risk was borne solely by private capital.”

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Oversight Update - The Office of Mortgage Settlement Oversight

hot_shuz's insight:

 a closer look shows individually the banks are passing a majority of the tests issued.

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