Mortgage Bond

Type: Keyphrase
Name: Mortgage Bond
First reported Apr 16 2014 - Updated Apr 17 2014 - 1 reports

Legal costs hit Bank of America's bottom line

The banking giant says legal costs tied to various mortgage bond settlements dragged down earnings in the first quarter.Tags : Legal, costs, Bank, America, bottom, lineMore in CNN Money Market news ... [Published India Everyday - Apr 16 2014]
First reported Apr 16 2014 - Updated Apr 16 2014 - 1 reports

A simple tax idea - MyNews24

"So I suggest a simple improvement - allow the interest on a mortgage bond to be tax deductible. But it is only tax deductible if the tax saving is paid into the mortgage bond account to reduce the balance of the mortgage bond (this could be managed seamlessly ... [Published Liberty Group Limited - Apr 16 2014]
Entities: Mortgage Bond, Taxes
First reported Apr 16 2014 - Updated Apr 16 2014 - 1 reports

BofA Posts Quarterly Loss on Mortgage Bond Settlement

Bank of America Corp. , the second-biggest U.S. lender, swung to a quarterly loss after settling disputes tied to mortgage bonds.The first-quarter loss was $276 million, or 5 cents a diluted share, compared with a profit of $1.48 billion, or 10 cents, ... [Published Bloomberg - Apr 16 2014]
First reported Apr 16 2014 - Updated Apr 16 2014 - 1 reports

Berlin Hyp places €500m mortgage bond

German lender Berlin Hyp has placed its first mortgage bond Pfandbrief of 2014 with the issue of a €500 mln seven-year facility at a coupon rate of 1.25%.The bond, which was rated Aaa and AA+ by ratings agencies Moody’s and Fitch, was placed on the market ... [Published PropertyEU - Apr 16 2014]
First reported Apr 15 2014 - Updated Apr 15 2014 - 1 reports

Financial services update March 31 2014 industry news

Goldman Sachs RMBS Lawsuit Moves Forward.On March 28, Bloomberg reported that a U.S. District Judge in Manhattan declined to dismiss a securities lawsuit over residential mortgage-backed securities Goldman Sachs sold in 2007, noting that an appellate ... [Published Lexology - Apr 15 2014]
First reported Apr 15 2014 - Updated Apr 15 2014 - 1 reports

Don’t Replace Fannie Mae And Freddie Mac: WSJ

The Wall Street Journal editorial notes Congressman Hensarling has a better reform bill in the House and a GOP Senate might be able to cut a better deal next yearThe Johnson – Crapo bill to replace Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) ... [Published Value Walk - Apr 15 2014]
First reported Apr 15 2014 - Updated Apr 15 2014 - 1 reports

Morning Coffee: The new era of cost-cutting at Barclays’ investment bank, Credit Suisse needs to axe 15% of headcount

What’s going to happen to Barclays investment bank when it presents its new plan in June? Tushar Morzaria, the bank’s chief financial officer who took the job six months ago, admitted to analysts in February that its future is not entirely clear.It’s ... [Published EFinancialCareers China - Apr 15 2014]
First reported Apr 15 2014 - Updated Apr 15 2014 - 1 reports

A simple tax idea

One of the biggest challenges in South Africa (aside from all the obvious ones) is encouraging us to save. When interest rates go up, everybody loses their houses and this makes it difficult for the reserve bank to react to inflationary pressures through ... [Published News24.com - Apr 15 2014]
First reported Apr 14 2014 - Updated Apr 14 2014 - 1 reports

Four Citigroup Mortgage-Bond Traders Said to Depart Bank

Four Citigroup Inc. traders whodeal in government-backed mortgage bonds have left the bank.Swapnil Rege, who joined the New York-based lender morethan a decade ago, and Kevin Cheng, who started at Citigroup in2002, confirmed their departures by telephone, ... [Published Bloomberg - Apr 14 2014]
First reported Mar 28 2014 - Updated Mar 29 2014 - 4 reports

Fitch No Impact from New Covered Bond Criteria on Chilean Mortgage Bond Programme

www.fitchratings.com ) has no impact on the rating of Chilean mortgage bonds. There is no advanced bank resolution framework in Chile. Therefore, in Fitch's view, in the case of Chile, the ... ... [Published Big News Network - Mar 29 2014]
First reported Mar 26 2014 - Updated Mar 27 2014 - 5 reports

Bank of America to pay US$9.3b to settle mortgage bond claims

Bank of America, dogged by Fannie Mae and Freddie Mac faulty mortgage bonds headaches six years after the global financial crisis. — Reuters file pic WASHINGTON, March 27 — Bank of America has agreed to pay US$9.3 billion (RM30.7 billion) to settle claims ... [Published Malay Mail - Mar 27 2014]
First reported Mar 26 2014 - Updated Mar 27 2014 - 11 reports

BofA to Settle Mortgage Bond Claims

World News: 15:52 GMT Thursday 27th March 2014 . [ ]This story Bank of America has agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the largest legal headaches it ... [Published SPi World News - Mar 27 2014]

Quotes

"So I suggest a simple improvement - allow the interest on a mortgage bond to be tax deductible. But it is only tax deductible if the tax saving is paid into the mortgage bond account to reduce the balance of the mortgage bond (this could be managed seamlessly by the banks)."
...We apply our "Criteria For Assigning 'CCC+', 'CCC', 'CCC-', And 'CC Ratings" to our analysis of TEPCO because we believe the company's business environment remains severe and a huge burden of compensation and clean-up costs continues to strongly pressure its liquidity and financial risk profile. We estimate that TEPCO turned a positive operating profit and its EBITDA margin recovered to above 10% in fiscal 2013 (ended March 31, 2014), and we project that it will maintain an operating profit at the current level in fiscal 2014. We base this projection on our key assumption that either TEPCO will restart one of its idle nuclear reactors or will benefit from implementation of another electricity rate increase, as well as additional cost cuts, in fiscal 2014. We take a view that TEPCO's lender banks will continue to support the company's refinancing of its maturing debts in line with an increasing package of support from the Japanese government. We also maintain our assessment of the likelihood of extraordinary support for TEPCO from the Japanese government as "high," and we base this on our assessment of the company's "strong" link and "very important" role to the government. Following government approval of TEPCO's revised restructuring plan in January 2014, we believe the support of the Japanese government has added stability to TEPCO's operating performance, in particular increasing financial support for compensation and cleanup costs related to the disaster at its Fukushima No 1 nuclear power plant. We view TEPCO's liquidity as "less than adequate," according to our criteria, though we estimate the ratio of its liquidity sources to uses exceeded 2.0x as of Sept. 30, 2013. Following approval of TEPCO's revised restructuring plan, we believe that financial institutions providing the company with credit continue to offer it sufficient liquidity support. However, we also believe that the costs of compensating third parties and cleaning up the environment will continue to heavily burden TEPCO's liquidity. In addition, TEPCO's short-term funding continues to rely heavily on the financial policies of its lender banks. Accordingly, we maintain our view that TEPCO's liquidity remains less than adequate and the policies of financial institutions on maintaining or extending credit to the company will be key to our analysis."
"While producing exponentially better results than a dismal 30 percent of your current income from retirement funds, buy-to-let property investment is also a highly affordable investment alternative for South Africans earning ordinary salaries, as it does not require a lump sum investment or large monthly investments, nor does it require any prior knowledge or experience or even much time.”"
"[We] believe the main driver of BOFI's recent earnings has been a large gamble on low interest rates and a once-in-a-lifetime opportunity in distressed MBS. It has managed to rapidly grow its profits in a mature and commoditized industry by chasing fickle, price-sensitive depositors and investing their funds in unusually long-dated assets" Kerrisdale said in its report

More Content

All (206) | News (142) | Reports (0) | Blogs (45) | Audio/Video (0) | Fact Sheets (4) | Press Releases (15)
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Legal costs hit Bank of America's bottom line [Published India Everyday - Apr 16 2014]
Michael Lewis’ Flash Boys calls for US attention [Published Abu Dhabi National - Apr 16 2014]
A simple tax idea - MyNews24 [Published Liberty Group Limited - Apr 16 2014]
BofA Posts Quarterly Loss on Mortgage Bond Sett... [Published Bloomberg - Apr 16 2014]
Outlook On TEPCO Revised To Stable From Negativ... [Published Newswit.com - Apr 16 2014]
Berlin Hyp places €500m mortgage bond [Published PropertyEU - Apr 16 2014]
Financial services update March 31 2014 industr... [Published Lexology - Apr 15 2014]
Don’t Replace Fannie Mae And Freddie Mac: WSJ [Published Value Walk - Apr 15 2014]
Morning Coffee: The new era of cost-cutting at ... [Published EFinancialCareers China - Apr 15 2014]
A simple tax idea [Published News24.com - Apr 15 2014]
Four Citigroup Mortgage-Bond Traders Said to De... [Published Bloomberg - Apr 14 2014]
WSJ: Johnson-Crapo isn't a cure, it's the illne... [Published HousingWire.com - Apr 14 2014]
Invest in property for retirement [Published Property24 - Apr 14 2014]
Mortgage Bond Traders From JPMorgan to RBS Said... [Published Washington Post - Apr 11 2014]
Jamie Dimon says Fed stimulus exit will be easy [Published Fortune - Apr 10 2014]
Hedge Fund Reverses Course On Hugely Successful... [Published TheStreet.com - Apr 09 2014]
Hedge Fund Reverses Course On Hugely Successful... [Published The Street Latest - Apr 09 2014]
The Top Ten Stocks for April 8 [Published Bloomberg - Apr 08 2014]
CHANTICLEER : Entry into a Material Definitive ... [Published 4 Traders - Apr 08 2014]
Bank Of America Still Does Not Cut The Mustard [Published Seeking Alpha - Apr 08 2014]
Margin Call Plan on Mortgage Bonds Draws Protes... [Published Washington Post - Apr 08 2014]
New-Breed Banks Lead U.K. Mortgage Bond Market ... [Published Bloomberg - Apr 08 2014]
Citi agrees to $1.125 billion mortgage bond inv... [Published Housing Wire - Apr 07 2014]
Bank of America’s dire mortgage bond prediction [Published HousingWire.com - Apr 07 2014]
Bank of America’s dire mortgage bond prediction [Published Housing Wire - Apr 07 2014]
Taxpayer Aid Sought for Mortgage Bond Trading A... [Published Big News Network - Apr 07 2014]
Taxpayer Aid Sought for Mortgage Bond Trading: ... [Published Washington Post - Apr 07 2014]
Bank of America to pay $9.3 bln to settle mortg... [Published Yahoo! India - Apr 04 2014]
How to buy property without home loan [Published Property24 - Apr 04 2014]
An Inside Look at Michael Lewis’s Writing Style [Published Bloomberg - Apr 03 2014]
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Blogs

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Citi agrees to $1.125 billion mortgage bond inv... [Published Housing Wire - Apr 07 2014]
"This settlement resolves a significant legacy issue from the financial crisis and we are pleased to put it behind us," Citi said in a statement. ...
Bank of America’s dire mortgage bond prediction [Published Housing Wire - Apr 07 2014]
In order to pass $500 billion in purchase volume, BofA suggests that a mix of lower mortgage rates, higher affordability and easier lending standards would be required. “None of which appears forthcoming in the near term,” the bank's analysts state. ...
Fitch: No Impact from New Covered Bond Criteria... [Published Business Wire Professional Services News - Mar 28 2014]
SANTIAGO, Chile--(BUSINESS WIRE)--Fitch Ratings says that the implementation of its revised criteria (see 'Covered Bonds Rating Criteria', dated 10 March 2014 on www.fitchratings.com) has no impact on the rating of Chilean mortgage bonds. There is no ...
Fed dialing back its support of the mortgage bo... [Published Housing Wire - Mar 27 2014]
Fed-purchased securities, which helped to spur the housing recovery, are poised to fall below growth as soon as May. ...
Wonkbook: What you need to know about the lates... [Published Ezra Klein - Mar 27 2014]
Welcome to Wonkbook, Wonkblog’s morning policy news primer by Puneet Kollipara. To subscribe by e-mail, click  here . Send comments, criticism or ideas to Wonkbook at Washpost dot com. To read more by the Wonkblog team, click  here . (Photo by Daniel ...
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Press Releases

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Debtor distribution data [Published GlobeNewswire: Telecommunications News - Mar 25 2014]
Debtor distribution data [Published GlobeNewswire: Real Estate News - Mar 25 2014]
Debtor distribution data [Published GlobeNewswire: Acquisitions News - Feb 25 2014]
Debtor distribution data [Published GlobeNewswire: Acquisitions News - Feb 25 2014]
New Mortgage Bond Futures [Published GlobeNewswire: Advertising News - Feb 07 2014]
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