If Fannie Mae and Freddie Mac are eventually liquidated, the federal government could reap between $170 billion and $234 billion in net proceeds, according to a new audit of the firms, but that doesn’t mean the junior preferred stockholders in the two will see a dime of that money. The newly released Johnson-Crapo mortgage finance reform bill provides no relief to investors in the junior preferred or owners of common stock in the two government-sponsored enterprises, leaving all liquidation proceeds to the U.S. Treasury, which owns the senior preferred shares. Over the past 18 months, several high-profile private-equity firms – Fairholme Capital, Pershing Square and Perry Capital, to name a few – have invested...
Some 73 lenders contributed to the security. Also, a portion of First Republic’s loans weren’t subject to due diligence reviews, a relative rarity in the new era of jumbo MBS.
W.J. Bradley Mortgage Capital announced a number of new jumbo mortgage products this week. Among the offerings is a loan with a 10 percent downpayment requirement for balances of up to $850,000.
There has been talk in the market that JPM would unload some of its “high touch” MSRs this year, but so far brokers that play in the space have reported no scheduled auctions.
The report, conducted by Alvarez & Marshall, was making the rounds in Washington Wednesday morning. John O’Neill, a managing director in the evaluation firm of Alvarez & Marsal, confirmed to IMFnews that his company conducted an evaluation on the GSEs for the Blackstone Group.
M&A specialists believe that some lenders obtain their Ginnie approvals merely for the purpose of increasing their franchise value without having solid plans to issue securities.
Richmond's mayor said the new rehabilitation program can be completed in addition to eminent domain. However, significant opposition to ED from mortgage industry participants appears to have changed how the city plans to implement its latest plan.
RSS