The internal review group for the New York-based megabank asserted in the third Chase Consumer Relief Update, compiled by monitor Joseph A. Smith Jr., that Chase has earned $2.2 billion in consumer relief credit from the period of October 1, 2013, to September 30, 2014.
Read More »Lawmakers Question ‘Activist’ Inclusion in Big MBS Settlements
Lawmakers are asking why the Justice Department is requiring the lenders to donate money to certain housing counseling agencies approved by HUD as part of their settlements.
Read More »Fannie Mae’s Mortgage Portfolio Continues to Shrink
The balance of Fannie Mae's gross mortgage portfolio stood at $436.2 billion at the end of October, representing a compound annualized rate decline of 5 percent from September, according to the mortgage giant's latest monthly volume summary.
Read More »Business Grows for Second Month at Freddie Mac
According to Freddie Mac's monthly volume summary, released Tuesday, the mortgage giant's total loan portfolio grew last month at an annualized rate of 2.5 percent, the highest growth rate since March 2013.
Read More »BofA, US Bancorp to Pay $69M in MBS Investor Suit
According to a motion filed with New York's Southern District Court, Bank of America and US Bancorp agreed to pay $69 million to a number of state and local pension funds that lost millions from their investment in MBS purchased from Washington Mutual before its collapse in 2008.
Read More »Fannie, Freddie Report Moderate Growth in Profits
Fannie Mae and Freddie Mac are set to send another $6.8 billion to the U.S. Treasury after posting a mild increase in profits for the third quarter. By the end of this year, the two GSEs, which have been in conservatorship since 2008, will have returned a combined $225.5 billion to taxpayers.
Read More »Fannie Mae’s Book Expands for First Time This Year
According to Fannie's monthly volume summary, the mortgage giant's book totaled $3.12 trillion as of September 30, representing an annualized growth rate of 1.5 percent compared to August's decline of 4.0 percent.
Read More »Fed: QE3 Asset Purchase Program to End In October
With the substantial improvement in the outlook for the labor market, as judged by the Committee, since the inception of the QE3 asset purchase program two years ago and the broader economy's underlying strength to support ongoing progress toward maximum employment in a price stability context, the Committee decided to conclude the QE3 program this month.
Read More »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.
Read More »Freddie Mac’s Portfolio Resumes Decline in August
After posting a slight increase in July, Freddie Mac's mortgage portfolio declined at an annualized rate of 0.4 percent over the month of August, according to the GSE's latest monthly volume summary. Year-to-date, the portfolio's annualized growth rate has averaged -1.6 percent, bolstered by declines near or higher than 2 percent in each of the first five months of the year.
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