BofA to Pay $6.3 Billion to Fannie, Freddie Over RMBS Failures
Bank of America reached a settlement Wednesday to resolve all of the Federal Housing Finance Agency's residential mortgage-backed securities litigation with the bank.
BofA Should Pay $2.1 Billion in Fraud Case, U.S. Says
BofA’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie and Freddie, the U.S. said.
Yellen Confirmed by Senate to Become Fed Chairman
Yellen, who will replace Bernanke after Jan. 31, will be the first woman to head the central bank in its 100-year history.
Bove: Fannie, Freddie Shutdown Would Have ‘Colossal’ Fallout
Fixed-rate 20- and 30-year mortgages would all but disappear without Fannie and Freddie, the bank expert says.
New Hire Roundup: Carasso Joins Senate Finance Committee Staff
Among this week's new hires, Adam Carasso joined the Senate Finance staff, and the IPA welcomed a new chairman and six new board members.
Paulson: Ben Bernanke a ‘Hero’
Former Treasury secretary regrets not being able to better communicate the need for a Wall Street rescue.
5 Years After Lehman Crash: ‘Dark Times’ Ahead
Janet Tavakoli and other commentators talk of violated American principles, the death of capitalism and “dark times for the future of the republic.”
FINRA Beefs Up MBS Transparency
FINRA announced Monday that its Trade Reporting and Compliance Engine will now provide increased transparency in mortgage-backed securities issued by Fannie Mae, Freddie Mac, Ginnie Mae and in securities backed by SBA-guaranteed loans.
Bernanke Signals Flexibility on Tapering
Fed Chairman Ben Bernanke told lawmakers Wednesday that if the economy falls short of expectations, the Fed could change its tapering plans and even “potentially increase purchases for a time.”
Barney Frank Defends Dodd-Frank at TDAI Elite Advisor Summit
The legendary curmudgeon and bane of political opponents was well-received by the advisors in attendance.