GSE adds SVP and Chief Compliance Officer to oversee regulatory and conservatorship obligations.
Read More »Britain’s Barclays Returning to U.S. Mortgage-Backed Securities Market
The British investment bank is looking to ramp up its business in mortgage-backed securities, roughly a year after paying $2 billion in civil penalties stemming from the financial crisis.
Read More »NCUA Pending RMBS Settlements Now Total $2.2 Billion
The total amount recovered from litigation against banks that sold toxic residential mortgage-backed securities to corporate credit unions has now reached $2.2 billion with two recently announced pending settlements, according to an announcement from the National Credit Union Association, chief regulator for credit unions in the United States.
Read More »FHFA Reaches 13th Bank Settlement
The Federal Housing Finance Agency (FHFA) announced last week the latest in a string of settlements with major banks over residential mortgage-backed securities sold to Fannie and Freddie before the economic meltdown. The most recent agreement, struck with Barclays Bank, calls for $280 million in payments to the GSEs.
Read More »Does the Senate’s ‘Nuclear Option’ Clear the Way for New FHFA Head?
Now that Senate Democrats have changed the chamber's rules to block filibusters of executive appointments, analysts anticipate a much easier path for Rep. Mel Watt.
Read More »Private RMBS Market Ready to Stage a Comeback
The stage is set for the private residential mortgage-backed securities (RMBS) market to make a comeback this year, Barclays says in a new research report.
Read More »Freddie Mac Sues Dozens over Rate-Rigging Losses
The story of the London Interbank Offered Rate (Libor) scandal added another chapter in March as Freddie Mac brought suit against Barclays, Bank of America, Citibank, and several other institutions for investment losses related to alleged rate-rigging practices.
Read More »Barclays Keeps Positive Builder Outlook as Housing Skies Clear
With the fiscal cliff negotiation out of the way--at least, the first phase of it--analysts at Barclays assert in a new release that "housing policy is transitioning from being a source of negative headline risk to a potential positive factor for the housing stocks." As the haze surrounding the state of the mortgage interest tax deduction (MID) lifts and the Federal Housing Administration (FHA) prepares to make reforms to its business model, analysts note that "anticipated policy changes have been less severe than feared."
Read More »Report: GSEs May Have Lost More than $3B in Rate-Rigging Scandal
Fannie Mae and Freddie Mac may have lost billions of dollars as a result of borrowing rate manipulation.
Read More »Economy Likely to Stay on Path of Recovery: Barclays
The housing recovery is strengthening and turning onto a sustainable path, Barclays said in a report Wednesday. According to the firm's U.S. Housing report, single-family housing starts are expected to trend upward, matching the strength of multi-family starts that has driven the housing recovery over the past year. Barclays also anticipates that home price indices will close out the year strong, suggesting a broadening and lasting recovery. The rising supply and steady sales pace of single-family starts apparently encouraged homebuilders.
Read More »