The Dutch government’s decision to hold onto U.S. mortgage debt acquired during the 2009 bailout of ING Groep NV has paid off so far as prices of the securities soared, more than doubling in some cases from lows that year.
Shellpoint Partners LLC, the lender backed by mortgage-bond pioneer Lewis Ranieri, canceled a planned sale of U.S. home-loan securities without government backing, saying it would instead sell the loans without packaging them into bonds.
Shellpoint Partners LLC, the lender backed by mortgage-bond pioneer Lewis Ranieri, cut the size of its second sale of U.S. home-loan securities without government backing after delaying the transaction last month.
Fannie Mae and Freddie Mac are set to auction as much as $17 billion of mortgage bonds they acquired before the real estate collapse to meet a regulatory directive, potentially straining demand at the same time the Federal Reserve considers a stimulus pullback.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told investors last week that rising interest rates could trigger a “dramatic reduction” in the bank’s mortgage profits. According to its own analysts, the U.S. housing market will extend its recovery regardless.
Transportation consultant Fehr & Peers, studying the commuting habits of California residents last year, got 300 responses from 5,300 postcard surveys sent by mail. Using cellular signals over the same period, Fehr was able to track travel patterns for 76,500 handset users.
Bank of America Corp. ’s plan to sell the insurance unit it acquired with Countrywide Financial Corp. may result in it liquidating properties faster after homeowners stop paying on debt underlying mortgage bonds, according to Amherst Securities Group analyst Laurie Goodman .