Browse by Tags

U.S. house prices fell 0.3% month-over-month in May following April's 0.8% pullback, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday.

The consensus had been looking for a 0.8% month-over-month pullback in May.

"It is very hard to draw conclusions from a one-month number, especially in these uncertain times; but the numbers in the Pacific, East and West North Central Divisions may be good signs..."

Shares of Freddie Mac and Fannie Mae were looking a little better in early trading on Tuesday after investors fled the two government sponsored entities (GSEs) the previous day over doubts that their underlying capital could make it more difficult for them to buy or guarantee mortgages. That, in turn, could make interest rates on new home mortgage loans rise sharply.

The concerns arose after Lehman Brothers reported that new accounting rules might require that the two companies raise billions in new funds.

U.S. house prices fell 0.8% month-over-month in April following March's revised 0.6% decline, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday.

The consensus had been looking for a 0.4% month-over-month pullback in April.

Leading the decline was a 2.0% month-over-month fall in the Pacific region, followed by a...

The new monthly OFHEO purchase-only home price index is expected to fall 1.5% in February, following a 1.1% decline in the January report.

The purchase-only index, based on data from home sales, was introduced in OFHEO�s fourth quarter 2007 House Price Index (HPI) report, and provides home price conditions for the nation and each of the nine Census Divisions.

In the previous month...

The Office of Federal Housing Enterprise Oversight has reached a notable settlement with three of Fannie Mae's former executives.

The settlement, announced late Friday, will end enforcement actions against the three officers arising out of accounting and internal control problems at the two government sponsored enterprises (GSEs) in 2004.

The Consent Order requires that Mr. Raines pay Fannie Mae a total of $24.7 million...

"As Fannie Mae has expanded its mortgage guaranty business to serve the market's urgent need for stability, liquidity and affordability, the company has undertaken a series of steps to protect borrowers, manage the increased credit risk in the market, and fortify the company's capital position. Among these steps, our company is continually assessing and establishing new pricing, eligibility and underwriting criteria for..

New York Attorney General Andrew M. Cuomo announced an agreement on Monday between his office and Freddie Mac and Fannie Mae under which the two largest purchasers of home loans will buy home mortgages only from those lenders that meet new standards that it is hoped will ensure independent and reliable appraisals...