Saturday, 16 November 2024

Finance & Mortgage

'U.S. Regulator Feels Pressure Over Freddie, Fannie

Mortgage giants Fannie Mae and Freddie Mac are being pushed to reduce borrowers' mortgage balances in order to shield U.S. banks from taking losses on distressed housing debt, the companies' regulator said in a Financial Times interview published on Sunday.

'CCB : China's Largest Mortgage Lender Posts Higher Q4 Profit, Loan Quality Worsens

China Construction Bank <0939.HK><601939.SS>, the world's No.2 lender valued at $193 billion, joined smaller rival AgBank <1288.HK> in reporting earnings lower than the market had expected as China's slowing growth squeezes its top lenders.

'Wells Fargo Scoffs At Subpoenas In $60B Fraud Probe: SEC

In conducting an investigation of possible fraud in relation to Wells Fargo & Co.'s sale of almost $60 billion in residential mortgage-backed securities, the U.S. Securities and Exchange Commission on Friday requested that a federal court order the country's largest mortgage lender to comply with its subpoenas.

EDITOR'S PICKS

'SEC Takes Wells Fargo to Court to Enforce Subpoenas

U.S. securities regulators accused Wells Fargo & Co on Friday of repeatedly ignoring its subpoenas for documents in connection with a probe into the bank's $60 billion sale of mortgage-backed securities.

By Staff Reporter
'SEC Demands Wells Fargo Comply With Subpoenas

Securities regulators accused Wells Fargo on Friday of failing to turn over documents in connection with a probe into the bank's $60 billion sale of mortgage-backed securities during the financial crisis.

By Staff Reporter
'Fannie, Freddie See Cost Savings In Mortgage-Principal Cuts

Analysis by the two government-backed lenders, which have cost taxpayers over $150 billion since their 2008 bailout, shows "loan forgiveness" would keep hundreds of thousands of Americans in their homes while saving money.

By Staff Reporter
'Dartmouth President Jim Yong Kim: World Bank Nominee, Five Facts About Him

U.S. President Barack Obama is set to nominate Dartmouth College President Jim Yong Kim to head the World Bank, senior administration official said.

By Staff Reporter
'World Bank President :Jim Yong Kim Nominated by Obama

The United States picked a public health expert of South Korean origin as its candidate for the World Bank presidency, a job emerging market economies are contesting for the first time.

By Staff Reporter
'Jeffrey Sachs Withdraws World Bank Nomination

U.S. economist Jeffrey Sachs is withdrawing his nomination to lead the WorldBank in support of the U.S. nominee Jim Yong Kim, his spokeswoman said on Friday.

By Staff Reporter
'World Bank Presidency : Three-way Race As Deadline Looms

The United States faces an unprecedented challenge to its grip on the World Bank presidency, with emerging economies poised to nominate at least one candidate on Friday to set up the first contested bid for the top job at the global development lender.

By Staff Reporter
'Women’s Group Knocks Summers’ World Bank Presidency Prospects

A woman’s group has mounted spirited opposition to a prospective nomination of former Secretary of the Treasury Lawrence Summers, 57, to be president of the World Bank.

By Staff Reporter
'World Bank President? Ngozi Okonjo-Iweala or Jose Antonio Ocampo ?

Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday.

By Staff Reporter
'China Cuts Ag Bank's Reserve Ratio To Combat Slow Growth

The reserve requirement for 379 branches of state-run Agricultural Bank of China Ltd., the country's third-biggest lender, will decline by two percentage points below that of other Chinese banks.

By Staff Reporter
'Spanish banks' higher real estate cover: A big but necessary step forward

Fitch Ratings says in a newly-published report that the new coverage levels for real estate (RE) assets required by the Spanish government is a big but necessary step forward and there are significant challenges ahead.

By Staff Reporter
'30-Year Fixed Mortgage Rate Clears 4%: Freddie Mac

Interest rates on the 30-year, fixed-rate mortgage rose above 4 percent for the first time since October 2011, following increases in bond yields, Freddie Mac reported.

By Staff Reporter