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Home >> News >> Secondary Market

Freddie Mac’s Portfolio Grows in September

Freddie Mac’s Portfolio Grows in September

According to the company's volume summary, Freddie Mac's total portfolio grew last month at an annualized rate of 2.2 percent, bringing the year-to-date average growth rate to -1.1 percent. The only other time the portfolio came up positive this year was in July, when it expanded at a rate of just 0.1 percent.

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Fed, SEC Approve Finalized QRM Rule

Fed, SEC Approve Finalized QRM Rule

The residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved on Wednesday by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC). The agencies are the last of the six groups charged with putting together the finalized rule.

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Regulators Set to Adopt Finalized QRM Rule

Regulators Set to Adopt Finalized QRM Rule

The so-called qualified residential mortgage (QRM) rule, which was put up for consideration by FDIC's board of directors Tuesday morning, would require banks to retain at least 5 percent of a loan's risk when packing mortgages to sell to investors in the secondary market. The QRM rule is one of the bigger provisions mandated by the 2010 Dodd-Frank Act, with co-author Barney Frank remarking in the past that risk retention is "the single most important part of the bill."

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Big Investors Shore Up Stock in Fannie, Freddie

Big Investors Shore Up Stock in Fannie, Freddie

William A. Ackman, head of Pershing Square, and Bruce Berkowitz, head of Fairholme Capital, have both added to their respective stakes in the two GSEs. In the last week of September, Judge Royce Lambert threw out lawsuits filed by Fairholme and Perry Capital against the government claiming that the sweeping of GSE profits into Treasury was illegal. The judge ruled the sweeping of the profits was legal under the Housing and Economic Recovery Act.

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Investors File Appeal After Dismissal of GSE Suit

Investors File Appeal After Dismissal of GSE Suit

Hedge fund Perry Capital has appealed a judge's decision to dismiss a lawsuit filed last year over the sweeping of Fannie Mae and Freddie Mac's profits into the Treasury. The investors believe that the diversion of GSE profits created a "windfall" for the government while short changing GSE shareholders.

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RMBS Class Action to Proceed Against JPMorgan Chase

RMBS Class Action to Proceed Against JPMorgan Chase

A ruling issued by a federal judge this week clears the way for investors to proceed with a class-action suit against JPMorgan Chase, meaning that all the investors can be represented by a lead plaintiff in the case. Investors are accusing the bank of misleading them by making false statements regarding the RMBS when the securities were packaged and sold to the investors in 2007, a year before the subprime lending crisis.

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