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Tag Archives: Profits

Morgan Stanley Posts Solid Q1 Earnings Amid Strong Equity Sales and Investments

The firm also repurchased approximately 7 million shares‒‒worth about $250 million‒‒of its common stock in the quarter. According to the statement, Morgan Stanley stock leapt from 74 cents per share to $1.18 between the first quarters of 2014 and 2015. The firm plans to repurchase as much as $3.1 billion of common stock through the end of Q2 2016.

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Profits Shrink at Fannie Mae

For all of 2014, Fannie reported profits totaling $14.2 billion, down from $84 billion in 2013. Like its sister company, Freddie Mac, Fannie's 2013 results got a major boost from a one-time benefit related to deferred tax assets and a surge in funds from securities settlements.

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Freddie Mac Ekes Out Profit Despite Derivative Losses

For the last three months of 2014, Freddie pulled in $227 million in net income, the company said Thursday, a drop of nearly $2 billion from Q3. The sharp drop came from derivative losses, which totaled $3.4 billion for the quarter as interest rates fell.

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Ocwen Anticipates Losses Ahead of Earnings Report

In a note to stakeholders released Thursday, Faris reviewed a handful of the regulatory hurdles Ocwen has had to deal with in the past year, including a long-running investigation from New York's top financial regulator that eventually resulted in a $150 million settlement.

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FHFA Chief Discusses GSE Profits, Other Issues with Reporters

In a meeting with reporters on Wednesday, Mel Watt, former U.S. representative and chief of the Federal Housing Finance Agency (FHFA) since December 2013, discussed a number of key issues facing the GSEs and the agency, touching on topics ranging from recently introduced low down payment programs to the often debated subject of principal reduction for struggling homeowners.

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Fourth-Quarter Earnings Down at Goldman Sachs

New York-based investment bank Goldman Sachs reported a slight year-over-year decline in Q4 2014 net earnings, but for the whole year of 2014 the firm reported a slight uptick from 2013, according to the firm's Q4 and year-end earnings statement released on Friday.

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BofA, Citi Disappoint on Earnings

Both institutions had a rough year in 2014 on the regulatory side of things. In July, Citigroup settled with the Department of Justice for $7 billion over the sale of toxic mortgage-backed securities. A month later, Bank of America settled with the DOJ for a record $16.65 billion over similar matters. The money paid out in penalties and consumer relief in 2014 took a toll on year-end net incomes for both institutions.

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Community Lending Group Criticizes Government Sweep of GSE Profits

In a recent letter addressed to Treasury Secretary Jack Lew and Mel Watt, director of the Federal Housing Finance Agency (FHFA), the Community Mortgage Lenders of America (CMLA) urged the government to "take immediate action to cure the under-capitalization" of the GSEs by re-amending the payment terms established when they were forced to take a bailout after the crash.

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Mortgage Bank Profits Down Despite Increased Production

Home lenders took in an average profit of $897 on each loan they originated over Q3, the Mortgage Bankers Association (MBA) said Thursday. That average was down from $954 in the second quarter but still a vast improvement from an average per-loan loss of $194 in the first quarter.

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