Client News Release
Bond Report: Treasurys head higher as focus returns to Fed purchases (at MarketWatch) and Ford Can Live With Nine (at Forbes.com)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 12/03/2008 - Mortgage Investment industry news provided by Financial News USA (OTC: FNWU). By using this site, you agree to the Terms of Service and Privacy Policy . Intraday data provided by Interactive Data Real Time Services, a division of Interactive Data Corp. and subject to terms of use. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Dow Jones Indexes(SM) from Dow Jones & Company, Inc. SEHK intraday data is provided by Comstock and is at least 60-minutes delayed. All quotes are in local exchange time. Real-time last sale data provided by NASDAQ. By using this site, you agree to the Terms of Service and Privacy Policy . Intraday data provided by Interactive Data Real Time Services, a division of Interactive Data Corp. and subject to terms of use. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data. [Read the full article]
TransUnion LLC., which analyzes consumer records, believes consumers who are 60 days late in payment will likely double in 2009. The company believes this would total 7.17% of all mortgage payers. This would be the highest rate since the company started tracking the data back in 1992. Adjustable rates are seen to be the catalyst for the potential huge increase. Many of the loans are going to be resetting to higher interest rates, thus higher payments. There will be even more loans resetting in 2010 and 2011. We are hoping the government has seen some of this data as they attempt to prop up the Fannie Maes (FNM) and Freddie Macs (FRE) of the world. The worst thing that can happen now is to underestimate the potential size of the bailout. Public sentiment has a real short leash on what has been coming out of Washington, so people who understand the breadth of the problem should be analyzing the trends. [Read the full article]
MCLEAN, Va., Dec. 2 /PRNewswire-FirstCall/ -- Freddie Mac (NYSE: FRE)
today reported in a filing with the U.S. Securities and Exchange Commission
(SEC) that the company has notified the New York Stock Exchange (NYSE) that it
intends to bring the share price of its common stock and the average share
price of its common stock for 30 consecutive trading days above $1.00 by no
later than May 18, 2009.
Freddie Mac is currently working with its conservator, the Federal Housing
Finance Agency (FHFA), to determine the specific action or actions that
Freddie Mac will take to cure the deficiency. If necessary to bring its share
price and its average share price for 30 consecutive trading days above $1.00,
and subject to the approval of the U.S. Department of the Treasury, Freddie
Mac has advised the NYSE that it may undertake a reverse stock split in order
to cure the deficiency by the May 18, 2009 date. [Read the full article]
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