MND NewsWire : ofheo

House Prices Fall 0.6% in July, Says OFHEO

CEP News Feed — Tue, 23 Sep 2008 14:17:50 GMT

U.S. house prices declined 0.6% in July following June's downwardly revised -0.3%, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday. The consensus had been looking for a decline of 0.2% in the month. Prior to revision, June's...(read more)

U.S. House Prices Flat in June, Says OFHEO

Glenn Setzer — Tue, 26 Aug 2008 11:00:00 GMT

U.S. house prices were flat in June following May's revised 0.4% pullback, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday.

The consensus had been looking for a decline of 0.4% in the month...

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House Prices Falls Less Than Expected in May, According to OFHEO

Glenn Setzer — Tue, 22 Jul 2008 11:00:00 GMT

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..."

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Government Considering a Fannie Freddie Takeover

Glenn Setzer — Fri, 11 Jul 2008 11:00:00 GMT

For the third day this week the stocks of Freddie Mac and Fannie Mae took a hammerin' on Wall Street and for the second day major newspapers are speculating on their survival as independent companies.

On Friday The New York Times and Barons both reported that the two government sponsored enterprises (GSEs) are under mounting pressure to raise additional capital and The Times saying that the Bush administration is considering a plan to take over either or both of the companies and place them in a conservatorship if their problems continue.

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Battered GSE Stocks Recover Slightly in Early Tuesday Trading

Glenn Setzer — Tue, 08 Jul 2008 11:00:00 GMT

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.

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Tuesday's Events: Case-Shiller and OFHEO Home Prices, Rich. Fed Mfg, Alan Greenspan

Glenn Setzer — Tue, 24 Jun 2008 11:00:00 GMT

The S&P/Case Shiller house price index, data from the OFHEO and the Richmond Fed's manufacturing report will highlight the U.S. economic releases as Canadian markets receive employment insurance data and comments from Finance Minister Jim Flaherty.

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U.S. House Prices Fall 0.8% Month-Over-Month in April, Says OFHEO

Glenn Setzer — Tue, 24 Jun 2008 11:00:00 GMT

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...

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OFHEO U.S. Housing Price Index Posts Largest Quarterly Decline on Record

Glenn Setzer — Thu, 22 May 2008 11:00:00 GMT

House prices fell 0.4% month-over-month in March following February's revised 0.4% gain, and declined 1.7% quarter-over- quarter in Q1 compared to a previous 0.1% gain, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Thursday. The quarterly fall was the largest decline on record.

The consensus had been looking for a 1.3% quarterly pullback in Q1.

"These substantial home price declines bring positive and negative news," said OFHEO Director James Lockhart...

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Preview: OFHEO Purchase-Only House Price Index to Decline in February

Glenn Setzer — Tue, 22 Apr 2008 11:00:00 GMT

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...

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Home Prices Rose 0.6% in February, OFHEO Reports

Glenn Setzer — Tue, 22 Apr 2008 11:00:00 GMT

U.S. house prices rose 0.6% in February following January's 1.1% decline, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday. Economists had expected a monthly decline of 1.5%.

In the previous month, U.S. home prices fell 1.1% between December 2007 and January 2008, contributing to a 12-month decline of 3.0%.

For the 12 months ending in February...

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Former Fannie Mae Execs Consent to Multi-Million Dollar Penalties

Glenn Setzer — Mon, 21 Apr 2008 11:00:00 GMT

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...

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OFHEO Says Fannie Mae, Freddie Mac Made Considerable Progress

Glenn Setzer — Tue, 15 Apr 2008 11:00:00 GMT

Fannie Mae and Freddie Mac have made considerable progress towards achieving financial stability, but more progress needs to be made, according to the Office of Federal Housing Enterprise Oversight's annual report to Congress released on Tuesday.

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Fannie Mae Tightens Loan Criteria for Credit Scores

Glenn Setzer — Thu, 03 Apr 2008 11:00:00 GMT

"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..

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OFHEO Lowers Capital Requirements for GSEs to Improve Market Liquidity

Glenn Setzer — Wed, 19 Mar 2008 11:00:00 GMT

OFHEO announced a major initiative in cooperation with the two government sponsored enterprises (GSEs) to increase, by perhaps as much as $200 billion, the liquidity of the mortgage- backed securities market.

This reduction combined with the increase of the portfolio caps announced last month should allow Freddie and Fannie to purchase or guarantee about $2 trillion in mortgages this year. This capacity should allow them to...

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Appraisal Reform Accord Reached By NY Attorney General and GSEs

Glenn Setzer — Mon, 03 Mar 2008 13:00:00 GMT

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...

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