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Wed Mar 10, 2010
Fitch Ratings warned Tuesday that the still-weak financial fundamentals of the nation’s lenders have cemented its rating outlook for the U.S. banking sector as negative.
The New York-based agency did note, though, that many of the factors that have been putting downward pressure on banks’ ratings, including lending and liquidity, are easing. However, commercial real estate exposure, particularly for regional banks, as well as consumer mortgages are expected to weigh heavy on lenders’ earnings into 2011.
An activist group who says its purpose is to investigate and prosecute government corruption is in a federal court battle to get its hands on documents detailing the political contributions made by Fannie Mae and Freddie Mac.
The organization says its been trying to get access to the GSEs’ records since May of last year but has been denied by the companies’ regulator, who is shielding the documents under claims that the government-controlled firms are private corporations. No. 2 on the GSEs’ list of campaign contribution recipients is President Obama.
National home prices fell for the sixth straight month, down 2.3% in January, IAS says. Read More
An increase in purchase activity for the week ending March 5, 2010 caused mortgage loan application volume to nudge up 0.5 percent on a seasonally-adjusted basis from the prior week, the Mortgage Bankers Association (MBA ... read more
At a public hearing scheduled for Tuesday, March 16, 2010, the Nevada Supreme Court will consider amendments to the rules governing the state's Foreclosure Mediation Program (FMP). If the amendments are approved, this wi ... read more
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