Daily Archives: May 10, 2012

New York Late Money Rates from The Wall Street Journal

New York Late Money Rates from The Wall Street Journal
5/8/2012 auction: 0.075% 4 weeks. Overnight Repurchase Rate: 0.20%. Source: ICAP. Freddie Mac: Posted yields on 30-year mortgage commitments. Delivery within 30 days 3.29%, 60 days 3.32%, standard conventional fixed-rate mortgages.
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Freddie Mac to sell .5 bln bills on Monday
| April 30 (Reuters) – Freddie Mac, the No. 2 US home funding company, said on Monday it will sell $ 1.5 billion of three-month bills due July 30, 2012, and $ 1 billion of six-month bills due Oct. 29, 2012 later in the day. The bills will be sold over …
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Jeffrey Gundlach, Bond Savant
Guaranteed mortgages are backed by Ginnie Mae, Freddie Mac (FMCC), and Fannie Mae (FNMA), which are sponsored by the government. They're more secure and thus have lower yields than their non-guaranteed counterparts. These bonds must still yield more …
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Kidnap-slaying suspect now on 10-most wanted list

Kidnap-slaying suspect now on 10-most wanted list
US mortgage giant Fannie Mae says it made money in the first three months of the year and is not seeking additional federal aid. It's the first time the company has reported a net income gain since it was taken over by… US mortgage giant Fannie Mae …
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Thursday Papers: Spain takes 45% stake in Bankia
Financial Times: Fannie Mae will not need funds from the US Treasury for the first quarter since its 2008 bailout, stoking hopes of an end to the property market downturn. Financial Times: GlaxoSmithKline has formally turned its $ 2.6 billion bid for …
Read more on Citywire.co.uk

Foreclosed Homes Used as Marijuana Farms

Foreclosed Homes Used as Marijuana Farms
A recent report in the New York Times discloses how drug dealers are purchasing or renting foreclosed homes in middle and upper class areas as the perfect disguise for their illicit farming operations. The dope dealers move in, and on the outside look …
Read more on RealtyBizNews

BofA initiates home loan modification offers
The lender said Tuesday it has begun mailing out letters to customers who may qualify to have their home loans reduced as part of a multistate settlement over alleged foreclosure abuses. The Charlotte, NC-based company estimates that more than 200000 …
Read more on Fox News

Maryland ranks high in number of homeowners seriously delinquent

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Maryland ranks high in number of homeowners seriously delinquent
who are trying to sell their homes — outside of Maryland, at least. The rate of those who are seriously behind on their mortgage payments — a leading warning sign of pending foreclosures — was a bit better in March at 7 percent nationwide, …
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Our take: Abandoned property
He should use it to pressure banks to be better corporate citizens and work with homeowners to avoid foreclosures where possible. Some of abandoned homes sit empty for months, even years, hurting nearby property values. They can even become dangerous, …
Read more on Orlando Sentinel

Real Opportunity in 'Predatory' Investment in Properties

Real Opportunity in 'Predatory' Investment in Properties
Many people are still wary of auctions but a keen investor, who's also patient enough, can capitalise from them. Seized property is often sold for the price of the delinquent taxes owed or auctioned off to the highest bidder. This kind of real estate …
Read more on AllAfrica.com