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  • Trulia4.01+0.33 +8.97%
  • NationStar19.04-0.58 -2.96%
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  • Freddie Mac3.06-0.11 -3.47%
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Home | News | Secondary Market (page 203)

GSEs’ Delinquency Buybacks Create Capital Need

The nation's two largest mortgage financiers have been stuck in the red for some time, and they regularly require cash draws from the Treasury to stay afloat. The GSEs' recent announcements to buy back some $200 billion in seriously delinquent loans from mortgage-backed securities holders over the next few months mean they'll have to come up with some extra cash fast. Analysts at Barclays Capital estimate that Freddie Mac will need to sell off $10 billion to $20 billion of its debt to fund the purchases, while Fannie Mae will need to raise about $60 billion.

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Suitors Line Up after General Growth Properties Rejects $10B Offer

The bankrupt commercial property developer and shopping mall manager General Growth Properties (GGP) has become a hot commodity, with firms lining up to get a piece of the Chicago-based company. On Tuesday, the nation's largest mall-operator, Simon Property Group, Inc. made public a $10 billion unsolicited bid to acquire the rival GGP - a deal that would have pulled the company out of bankruptcy. GGP quickly rejected the offer, and since, speculation has run rampant about other investment firms that may soon come knocking.

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FHFA Proposes New Housing Goals for Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) has sent a proposed rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac. The Housing and Economic Recovery Act of 2008 (HERA) gave FHFA authority to establish annual performance goals for the two mortgage giants. These goals set the minimum percentage of mortgage acquisitions by the GSEs for certain borrower income groups.

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Fed Wants Banks’ Loan-Level Data to Prevent Meltdown Repeat

Federal Reserve Board Governor Daniel Tarullo is urging lawmakers to craft reform legislation that would give regulators the authority to collect a broader range of data from lenders, including details of their loans and securities. It's insight the governor says is needed to accurately assess large financial firms' risk and ward off another crisis where the collapse of any one institution sends the system into a tailspin - as was the case when Lehman Brothers went under in 2008.

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Policy Action Needed to Support Recovery of Commercial Real Estate Market

As DSNews.com reported Friday, the congressional panel charged with overseeing the Troubled Asset Relief Program recently released an analysis of the commercial real estate market. According to the Real Estate Roundtable, a Washington, D.C.-based group bringing together leaders in the real estate industry, the report underscores the need for additional federal policy action to support economic recovery and stabilize commercial real estate markets.

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Jones Lang LaSalle Ranked as a Leading Real Estate Outsourcing Company

Jones Lang LaSalle announced Monday that it has been selected in the leaders category for the 2010 Global Outsourcing 100, an annual ranking of high-quality service providers across all industries as determined by the International Association of Outsourcing Professionals (IAOP). This marks the third time that Jones Lang LaSalle has been selected for the Global Outsourcing 100 list.

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More CMBS Loans Moving to Special Servicing: Fitch

Loans within commercial mortgage-backed securities (CMBS) are transferring to special servicing in larger batches and with increasing speed, Fitch Ratings said in its weekly U.S. CMBS newsletter. Last month saw 248 loans totaling $4.27 billion move into special servicing. That figure is four times the balance that transferred in January of last year.

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Commercial Real Estate Losses Could Hit $300 Billion: TARP Panel

Losses from defaults on commercial real estate loans maturing in the next few years could go as high as $300 billion, threatening to topple nearly 3,000 community banks nationwide, a federal watchdog group has concluded. Market analysis by the Congressional Oversight Panel, charged with keeping tabs on the government's Troubled Asset Relief Program (TARP), shows that none of the banks classified by federal guidelines as having a ""CRE Concentration"" are among the nation's largest holding companies.

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