Dick Bove: Mortgage lending won’t exist without Fannie, Freddie

Negative equity rate drops at a record pace Despite these large drops in negative equity, the rates remain high, especially when considering the effective negative equity rate. table 1 shows the effective negative equity rates for the top 30 metros, where Las Vegas has the highest rate of 71.5%, followed by Atlanta at 64.1% and Riverside at 59.7%.HUD: Robo-signing settlement to accelerate principal reductions Housing and Urban Development Secretary Shaun Donovan has stated that HUD will be able to get between $35-$40 billion in principal reduction in real dollars out of this settlement. Good luck trying to figure out who exactly is most deserving of the write-downs. No wonder Oklahoma’s AG bowed out of.

Richard Bove, equity research analyst at Rafferty. housing market by the administration’s directives for tighter lending standards. Stated simply: The White House needs Fannie and Freddie to go.

It’s purpose was simple: Act as an electronic trading house for millions of mortgage-backed securities to facilitate the virtually instantaneous trading required when retail lenders (the folks who.

Bove said banks have admitted to him privately that they cannot make money on 30-year fixed-rate home loans anymore due to new rules on capital reserves and securitizing mortgages. However, the Treasury Department is aiming to phase out Fannie Mae and Freddie Mac by 2018. Dick Bove: Mortgage lending won’t exist without Fannie, Freddie

Richard Bove, vice president of equity research at Rafferty Capital Markets sent an email to clients Wednesday morning calling operations at Freddie. bank loans and the high yield market, in.

Here’s Bove’s take: Finally, information is being released concerning the state of Fannie Mae at the end of 2008 and the. shareholder values – i.e., expropriated private property without any.

Moreover, the bailout of Fannie and Freddie should lead to lower mortgage. to risky loans. "There’s nothing you can do with wacky accounting rules to change the fact that deposits are deposits,".

Strategic defaulters opt to continue paying on second liens If that happens, borrowers sometimes choose to stop making payments, even if they could afford to stay current, simply because the home has become a bad investment. This is known as strategic default, which is sometimes called voluntary foreclosure or "walking away.".

1 in 5 mortgages drowning A balloon mortgage can be an excellent option for many homebuyers. A balloon mortgage is usually rather short, with a term of 5 years to 7 years, but the payment is based on a term of 30 years.

Dick Bove is back in business. and government buyers of B of A’s mortgage-backed securities. And if it’s safe to assume that the bank won’t go out of business and will eventually resolve those.

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Banks are bracing for a new wave of commercial mortgage losses, of prime Option ARMortgage losses, and credit card losses. The delinquency rate of prime Option ARMs is now higher than subprime home.

Bush and a special counselor to Vice President Dick Cheney until. (this latest tally includes Fannie Mae and Freddie Mac mortgage liabilities that the U.S. Treasury unilaterally assumed for the U.S.

The Impossible Mortgage Rates Of Freddie Mac - Today's Mortgage and Real Estate News "If Fannie and Freddie. loans from individual lendersand sell them to the markets; it is now also the largest purchaser and sellerof residential mortgages. bove says the banks he spoke with won’t.

Bank Economists: No Clear Recession, Only Slow Growth DBRS settles with SEC over misrepresenting mortgage bond rating capabilities SEC.gov | Mortgage-Backed Securities – Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property. mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by a governmental, quasi-governmental, or private entity.

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