(Bloomberg) — U.S. Assistant Treasury Secretary for Financial Stability Timothy G. Massad said today that while Residential Capital LLC’s Chapter 11 bankruptcy filing is unfortunate, the “action puts taxpayers in a stronger position to continue recovering their investment in Ally Financial. (ALLY)” Massad, in a statement issued in Washington, said the Treasury Department had consented [...]
(Washington Post) What was the trade? As Michael Hiltzik of the Los Angeles Times writes, we don’t need to get too technical here. “Leaving aside the sophistication of the transactions themselves, JPMorgan’s trader, a London-based derivatives expert whose portfolio was so outsized he became known in the markets as the London Whale, essentially bet that [...]
I mentioned in my previous blog post here on The Niche Report that I would share about Facebook’s algorithm Edgerank. In this article you will learn why your page has seen less interaction in the past few months… So here we go… Photo Credit: My Facebook Page Do you want to know why the new Facebook [...]
(CNBC) — U.S. stocks faded in the final minutes of trading to close mixed Thursday, though the Dow Jones industrial average managed to snap a six-day losing streak. It seems investors remain cautious as many negatives plague the market today, including everything from Europe’s ongoing debt crisis to falling commodity prices and an economic slowdown [...]
(Bloomberg) — Jamie Dimon, the CEO of JP Morgan Chase and one of the most vocal defenders of the financial industry in Washington, may find himself in a tough spot now. Yesterday he announced the firm had a $2 billion trading loss after an “egregious” failure in a unit managing risks. Dimon in April called [...]
(Wall Street Journal) — Fannie Mae’s chief executive said in an interview Wednesday that he doesn’t think the company should participate in programs to write down principal for homeowners who owe more than their homes are worth. The Obama administration has offered to subsidize the cost of those write-downs, and Fannie’s federal regulator has weathered [...]
(Freddie Mac) — MCLEAN, Va., May 10, 2012 — Freddie Mac (OTC: FMCC) today announced that its Board of Directors has appointed Donald H. Layton as chief executive officer and has elected him as a member of the Board of Directors. Layton will join the company on May 21, 2012. Layton will assume leadership of [...]
National Association of Realtors® — (May 9, 2012) – Median existing single-family home prices are firming in many metropolitan areas, while improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 74 out of 146 [...]
(CNNMoney) — The federal government is considering a new set of rules on mortgage origination that it says would make the process simpler and more transparent for borrowers. The Consumer Financial Protection Bureau, created as part of the Dodd-Frank financial reform law, said Wednesday that the new rules will focus on mortgage points and fees, [...]
(TheNicheReport) — Mortgage interest rates hit historical low levels in early May, according to mortgage investment giant Freddie Mac, and yet most Americans are unable to enjoy them. Adding the fact that median home prices are currently at their lowest levels in the 21st century, the combination of these two factors is a perfect storm [...]
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