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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: mortgage backed securities

mortgage backed securities stories: 75 news summaries

21 - 40 of 75 Stories | << Prev 1 2 3 4 Next >>

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OPINION

No Silver Bullet for Crises Like These: Pearlstein

Complex financial system requires complicated fixes ... and lots of patience

Jan 23, 09 11:22 AM CST
(Newser) - With various factions blaming a single factor—and pushing a single solution—for the financial crisis, Steven Pearlstein of the Washington Post cautions that there won’t be a silver bullet. Reducing foreclosures, removing toxic assets, and nationalizing banks will all come into play; meantime, we must “resist the... More »

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foreclosure • mortgage backed securities • subprime crisis • financial crisis • recapitalization • Steven Pearlstein • toxic assets

30-Year Mortgage Rates
Fall to Record Low 5.01%

Fed buys $10.2B in agency mortgage bonds

Jan 8, 09 5:08 PM CST
(Newser) - Interest rates on 30-year fixed mortgages fell to a record low 5.01% this week, Bloomberg reports. The drop—the 10th weekly fall in a row—comes as the Federal Reserve purchased $10.2 billion of mortgage-backed securities from Fannie Mae, Freddie Mac, and Ginnie Mae as part of a... More »

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Federal Reserve • Freddie Mac • Fannie Mae • mortgage rates • interest rate • bond market • securities • mortgage backed securities

 Just How Bad Was 2008? 

The worst anyone under 70 has seen, Bloomberg reports

Dec 31, 08 4:37 PM CST
(Newser) - If you're under the age of 70, 2008 was probably the worst year you've lived through, reports Bloomberg. Here's why:
  • In housing, which started the downturn, median resale prices saw a 13% decline, the largest since the 1930s.
  • Foreclosure rates reached 2.97%, and mortgage delinquency hit 6.
... More »

MORE ABOUT:
stock market • housing market • Bear Stearns • Merrill Lynch • recession • Lehman Brothers • securities • mortgage backed securities

 As Bills Loom, 
 Developers 
 Cry Bailout 

Some $530B in commercial mortgages will need refinancing—and credit is tight

Dec 22, 08 9:40 AM CST
(Newser) - Developers worried about the health of the commercial real estate market want a piece of the bailout action, the Wall Street Journal reports. They say $530 billion in commercial mortgages will be up for refinancing in the next 3 years, but credit “simply is not available.” Without government... More »

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real estate development • mortgage backed securities • commercial real estate • financial crisis • commercial mortgage

 Obama Taps 
 Schapiro as 
 SEC Chair 

Schapiro brings a wealth of experience to her new position

Dec 18, 08 12:32 PM CST
(Newser) - Barack Obama named Mary Schapiro as chair of the beleaguered SEC today, the Wall Street Journal reports. Schapiro's hefty resume includes stints as an SEC commissioner under former presidents Reagan and Bush, and another as acting commissioner in 1993 by Bill Clinton. Since then, Schapiro served on and eventually headed... More »

MORE ABOUT:
SEC • Ronald Reagan • George HW Bush • mortgage backed securities • NYSE Euronext • securities fraud • financial crisis • President Obama • Mary Schapiro

Profits Were Fake, Bonuses All Too Real

How risky schemes
left bankers flush, banks broke

Dec 18, 08 8:36 AM CST
(Newser) - Dow Kim was one of the leading bond traders at Merrill Lynch, and in 2006 he bundled together $500 million in loans into a huge CDO with the charming name Costa Bella. Since the subprime collapse, Costa Bella has cost Merrill millions—but Kim had already cashed out, awarded a... More »

MORE ABOUT:
executive compensation • Merrill Lynch • CDO • bonuses • mortgage backed securities • compensation • collateralized debt obligations • financial crisis

Bailout Turns
to Shore Up
Credit Unions

$41B will focus on largest; most haven't seen a dime yet

Dec 9, 08 10:39 AM CST
(Newser) - Largely overlooked by federal regulators managing the bailout, credit unions will receive  $41 billion in lending to brace a handful of the largest institutions in a plan expected to be announced this week, the Wall Street Journal reports. The plan is intended to bring relief to as many as 10,... More »

MORE ABOUT:
mortgage backed securities • bailout • mortgage delinquency • credit unions • Troubled Asset Relief Program • financial crisis

Goldman May See $2B Fourth Quarter Loss

Credit downgrades key catalyst in Wall Street titan's loss of value

Dec 2, 08 7:39 AM CST
(Newser) - After dodging many of the bullets that left its Wall Street peers wounded or dead, Goldman Sachs faces a net loss of up to $2 billion for the fourth quarter, the Wall Street Journal reports. The loss of $5 per share is five times worse than analysts feared as the... More »

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Wall Street • Goldman Sachs • credit crisis • securities • mortgage backed securities • financial crisis

analysis

Credit Relief Flows Slowly—When It Flows at All

Consumer aid package won't budge pickier banks

Nov 27, 08 10:14 AM CST
(Newser) - With hundreds of billions of dollars pumping into the calcified credit markets, many struggling Americans are expecting to see some relief, but many will be disappointed, the New York Times reports. Banks continue to stiffen loan eligibility requirements even as strapped consumers face deteriorating credit scores, and whole categories of... More »

MORE ABOUT:
consumer • Federal Reserve • home loans • mortgage backed securities • lending practices • bailout • banks • financial crisis

(Newser) - Freddie Mac, the swamped mortgage giant seized by the government two months ago, asked for $13.8 billion from the Treasury today after a record quarterly loss plunged its net worth into the negative, Bloomberg reports. Sister company Fannie Mae, also under government control, said this week it might need... More »

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Freddie Mac • Fannie Mae • credit crisis • mortgage backed securities • subprime crisis • bailout • financial crisis

Firms Wary of Treasury's Stalled Toxic-Asset Bailout

As Treasury shifts gears from assets to equity stakes, firms shy away

Nov 7, 08 10:22 AM CST
(Newser) - A survey of more than 400 financial institutions found a large percentage are reluctant to participate in the $700 billion bailout program because of confusion, the Wall Street Journal reports. As Treasury hastily shifted gears from the original plan to buy toxic debt to taking equity positions in banks, more... More »

MORE ABOUT:
asset management • financial markets • Treasury Department • mortgage backed securities • bailout • financial crisis

OPINION

Schwarzman Weighs In on Market Reforms

Private-equity billionaire says regs should be global, streamlined

Nov 4, 08 10:46 AM CST
(Newser) - With the world in “the worst financial crisis in recent memory,” private-equity billionaire Stephen Schwarzman advocates seizing the opportunity to prevent a repeat. In an op-ed piece in the Wall Street Journal, the Blackstone CEO, who pocketed $677 million from the firm’s IPO last year, calls for... More »

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private equity • Stephen Schwarzman • Blackstone Group • central bank • mortgage backed securities • bailout • financial crisis

 US May Buy 
 Equity in 
 More Firms 

After seeing some thawing in key credit markets, Treasury may expand program

Nov 4, 08 8:21 AM CST
(Newser) - Treasury is considering using some of the $700 billion at its disposal to buy stakes in a range of financial companies beyond banks, the Wall Street Journal reports. The idea comes after seeing measured success in thawing credit markets by taking equity stakes in several banks. Treasury may also abandon... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Election 2008 • bailout • financial crisis • financial meltdown

OPINION

 How Hank Paulson Blew $125B 

The banks have the cash, but why is everyone surprised they're not lending?

Oct 31, 08 9:15 AM CDT
(Newser) - Not too long ago, critics from left and right were clamoring for Hank Paulson to abandon his plan buy up toxic mortgage-backed securities at auction to unlock credit markets. Instead, they argued, the government should give money directly to banks for them to lend. Too bad Paulson listened, writes Steven... More »

MORE ABOUT:
Henry Paulson • Treasury Department • mortgage backed securities • subprime crisis • financial crisis • Steven Pearlstein

AIG Has Already Spent Most of $123B Bailout

Ailing insurance
giant warns it may
need more help

Oct 24, 08 9:05 AM CDT
(Newser) - Struggling insurance giant AIG, recipient of the largest government bailout in history, has burned through three-quarters of its $123 billion financial lifeline, the Washington Post reports. As of yesterday, AIG has withdrawn $90.3 billion from the Federal Reserve’s credit line, mostly to pay off bad bets insuring toxic... More »

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AIG • mortgage backed securities • subprime crisis • bailout • Wall Street bailout • financial meltdown

Tough German Bailout Caps Bank Salaries

Bonuses, dividends
also nixed for
troubled firms' execs

Oct 20, 08 4:48 AM CDT
(Newser) - The German cabinet approved the terms of a $645 billion bailout plan today—which includes a salary cap for top bank managers. Banks who take part in the bailout must cap managers' salaries at about $670,000 and withhold bonuses and dividends. Some of Germany's top banks have said they... More »

MORE ABOUT:
Germany • Deutsche Bank • liquidity • bonuses • mortgage backed securities • salary cap • bailout

 Swiss Offer UBS $60B Bailout 

Troubled banking giant will get capital injection, offload bad debts

Oct 16, 08 6:46 AM CDT
(Newser) - Switzerland became the latest nation to shore up struggling banks, reports the Telegraph, as it bailed out UBS to the tune of $60 billion today. The Swiss central bank will offer UBS a capital injection of $6 billion in exchange for 9% of the company, and it will allow UBS ... More »

MORE ABOUT:
Credit Suisse • Switzerland • UBS • mortgage backed securities • bailout • Swiss National Bank • financial crisis

Bailout Czar Kashkari Joins World's Big Money Elite

After brisk rise through Treasury, 35-year-old has purse to rival largest sovereign funds

Oct 7, 08 1:01 PM CDT
(Newser) - A behind-the-scenes player at the Treasury Department just weeks ago, 35-year-old Neel Kashkari’s financial heft as the agency’s bailout czar puts him on par with the heads of sovereign wealth funds, Politico reports. The self-described “free-market Republican” enjoyed a meteoric rise through the department, where he was... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Abu Dhabi Investment Authority • sovereign wealth funds • bailout • Neel Kashkari

OPINION

GOP Is Brilliant at Blaming the Victim: Frank

Conservatives can't admit deregulation has failed, says Frank

Oct 1, 08 1:22 PM CDT
(Newser) - Even in a financial crisis obviously precipitated by an orgy of deregulation, writes Wall Street Journal columnist Thomas Frank, the right has done a spectacular job deflecting blame. Looking to point the finger at something other than "unbridled pecuniary motives," conservatives have targeted Democrat-friendly Fannie Mae and Freddie... More »

MORE ABOUT:
subprime mortgages • credit market • mortgage backed securities • conservatives • deregulation

O'Neill on Bush: He Doesn't Get It, and 'It Shows'

Former treasury chief says leaders are acting out of 'panic'

Sep 26, 08 11:50 AM CDT
(Newser) - Former Treasury chief Paul O'Neill doesn't have a lot of confidence in the ability of his old boss to find a financial solution, ABC News reports. “I don’t think he understands or knows much about any of this and it shows,” O’Neill said of President Bush.... More »

MORE ABOUT:
mortgage backed securities • housing crisis • subprime crisis • bailout • financial crisis • Paul O'Neill

21 - 40 of 75 Stories | << Prev 1 2 3 4 Next >>


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