The guidance doesn’t “tells us anything more than where we were an hour before this guidance came out," according to Michael Barone, a director of legal and regulatory compliance at Lenders Compliance Group.
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.