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BofA Posts Loss as Litigation Charges Weigh

Mark Lennihan/AP By Peter Rudegeair and Tanya Agrawal Bank of America (BAC) posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion in litigation expenses related to a settlement with the Federal Housing Finance Agency...Show More Summary

Bank Of America To Pay $9.3 Billion Settlement Over Mortgage-Backed Securities Sold To Fannie And Freddie

The Federal Housing Finance Agency has reached a $9.3 billion settlement related to mortgage-backed securities with Bank of America, Countrywide Financial and Merrill Lynch, the housing regulatory agency said in a release. Here's the release: Washington, D.C. Show More Summary

Credit Suisse Settles Mortgage Litigation for $885 Million

Credit Suisse Group AG has agreed to pay $885 million to settle allegations by the U.S. Federal Housing Finance Agency that the Swiss bank misrepresented mortgage-backed securities sold in the lead-up to the financial crisis.

Obama administration says housing agency won’t need Treasury aid

WASHINGTON (Reuters) - The U.S. Federal Housing Administration, which turned to the Treasury for aid in 2013, will avoid that fate this year due to efforts to shore up its finances, the White House predicted in its budget proposal on Tuesday.

Morgan Stanley Reaches $1.25 Billion Mortgage Settlement

The Morgan Stanley settlement is the latest agreement between a Wall Street firm and the Federal Housing Finance Agency, which has sued 17 firms seeking compensation for losses that were ultimately born by taxpayers.

Senators urge new FHFA head to use Fannie and Freddie funds for affordable housing

A third of the nation’s senators have sent a letter to Mel Watt, the new head of the Federal Housing Financing Agency, urging him to use funds from mortgage giants Fannie Mae and Freddie Mac to fund affordable housing. The...

CA: House Panel Hearing Focuses on California Bullet Train Finances

The California bullet train agency is continuing to meet its financial obligations under federal grants that are providing $3.2 billion to the project, but the state has not indicated how it will pay $180 million in required matching funds by April 1, a...

FHFA’s New Director Names Senior Aides

The Federal Housing Finance Agency's new director, Mel Watt, named three current and former Obama administration officials to senior roles within the agency on Friday.

Republican Lawmakers Back Mortgage-Fee Increases

Three Republican lawmakers on Wednesday defended mortgage-fee increases announced by the Federal Housing Finance Agency last month that were later suspended by the agency’s new director.

The Best Gummint Housing Program You’ve Never Heard Of

Of all of the various government housing programs run by various federal agencies — Federal Housing Administration, Federal Housing Finance Agency, Housing and Urban Development and, of course, Fannie Mae — HARP is the most effective and efficient one out there. Odds are you have never even heard of the Home Affordable Refinance Program. And...Read More

Republican Lawmakers Back Mortgage-Fee Increases

Three Republican lawmakers on Wednesday defended mortgage-fee increases announced by the Federal Housing Finance Agency last month that were later suspended by the agency’s new director.

Mel Watt Has Signaled a Major Housing-Policy Shift

Rep. Mel Watt won’t be sworn in as the director of the Federal Housing Finance Agency until Monday, but he has already sent a clear signal of the coming shift in direction from his predecessor.

Incoming Fannie, Freddie regulator will delay fee hikes

Mel Watt, who is scheduled to take the reins of the Federal Housing Finance Agency Jan. 6, says he plans to delay proposed increases in fees that Fannie Mae and Freddie Mac charge lenders to offset the risk of securitizing...

The big question of 2014: Will Mel Watt reverse Fannie, Freddie fee hikes?

On his way out the door Edward DeMarco, the outgoing head of the Federal Housing Finance Agency, announced another round of loan-level pricing hikes and increased Fannie and Freddie's securitization guarantee fee, now triple its pre-bubble percentage. The big housing question in 2014: will DeMarco's successor, Mel Watt, begin to reverse the damage...

Deutsche Bank to pay $1.92B in mortgage settlement

Federal Housing Finance Agency sued 17 financial institutions over their sales of mortgage securities to Fannie and Freddie

Freddie Mac, FHFA to receive $1.9B in settlement with Deutsche Bank

Freddie Mac will receive $1.63 billion from Deutsche Bank as part of a $1.93 billion settlement between Freddie Mac’s regulator — the Federal Housing Finance Agency — and the bank that covers investments the government-sponsored organization made in “certain residential non-agency...

Deutsche Bank pays $1.91 billion to resolve U.S. FHFA suit

FRANKFURT (Reuters) - Deutsche Bank will pay 1.4 billion euros ($1.91 billion) to resolve a law suit with the U.S. Federal Housing Finance Agency over mortgage-backed securities, Germany's biggest lender said on Friday.

Pricier in 2014: Mortgages

An effort to loosen Fannie Mae and Freddie Mac's grip on the mortgage market will come at a price: pricier mortgages. The two announced late Monday that, at the insistence of the Federal Housing Finance Agency, they will increase their fees to borrowers without impeccable credit (designated as those with...

Watt Now? (Or, Can Mel Watt Fix the Housing Crisis?)

News coverage of the Senate's confirmation of Congressman Mel Watt on Tuesday to head the Federal Housing Finance Agency (FHFA) was all about politics, not the housing or banking issues he now has to address. Nominated by President Barack Obama in May, Republicans blocked his approval for seven months. Show More Summary

Task Force applauds Senate confirmations

The Task Force applauds the recent confirmations by the U.S. Senate of Chai Feldblum as a member of the Equal Employment Opportunity Commission, Rep. Mel Watt to head the Federal Housing Finance Agency and Cornelia Pillard to serve as judge on the U.S. Court of Appeals for the District of Columbia Circuit. “We are extremely […]

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