wow... see last paragraph...
Specific value of F&F common shares. 16 bill & 8 bill
rt Takes: Announcement on GSE Loan Limits Imminent? / Top Performing LOs Defendants in Lawsuit / Newcastle No Longer Interested in MSRs? / New Life for Subprime / Fannie and Freddie are Worth How Much?
By Paul Muolo, Brandon Ivey
pmuolo@imfpubs.com, bivey@imfpubs.com
So, will FHFA Acting Director Ed DeMarco – who is now considered a lame duck regulator of sorts – announce something regarding GSE loan limits by the end of November? FHFA, of course, isn’t commenting or giving much guidance on the topic. One housing lobbyist closely watching the issue noted that a Tuesday announcement “makes sense as they are normally done by Nov. 28, but my gut says that with a new guy coming in, he [DeMarco] may defer action.” The new guy is Rep. Mel Watt, D-NC, who awaits Senate confirmation. Although Thanksgiving is a federal holiday, Friday, the last day of the month, is not...
Late last week, Inside Mortgage Finance published a story about a lawsuit filed by W.J. Bradley Mortgage against RPM Mortgage, its owners and some of its loan officers. The civil action entails the alleged taking from WJB of some 5,000 loan files. It should be noted that these aren’t just any LOs – the group in question ranks among the top producers in the nation. We’ll publish more on the case in early December…
Newcastle Investment Trust late last week sold 57.9 million shares of common stock, raising roughly $304 million. Over the past two years the REIT has been a player in the MSR market, striking “excess” servicing deals with such participants as Nationstar Mortgage. But in its press statement on the equity raise, MSRs aren’t even mentioned. The company said it plans to use the cash to buy “senior housing properties”…
Who says subprime mortgage finance is dead? Credit Suisse has initiated coverage of Springleaf Holdings, calling it an “outperform.” Springleaf was formerly known as American General Finance and was owned by AIG, which had Uncle Sam as a major investor...
Meanwhile, who says the common stock of Fannie and Freddie are worthless? According to trading prices on Monday, Fannie has a market capitalization rate (share price multiplied by outstanding common) of $16.33 billion. Freddie’s market cap is $8.38 billion
