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mortgage: $29 Billion 3rd Quarter Loss For Fannie - 11/12/08 11:24 AM
On September 6 The federal Housing Finance Agency (FHFA) took control of both Fannie and Freddie, which forced out management after finding that their capital reserves were too low.  This then prompted them to redetermine the value of the company's assets, which in turn slashed the company's net worth by 79% - The difference between the company's assets to liabilities..  Some analyst predict Fannie could very well move into negative territory by Q1 2009.  This would mean that Fannie would need to tap federal funds to stay in the black, which it has not done up to this date.  The good … (1 comments)

mortgage: Mortgage Applications Decline - 01/25/07 05:17 PM
 
Mortgage Applications Decline for the Week  Graph: MBA Applications Index over 52 WeeksMortgage demand was on the decline for the week as applications both refinances and purchases dropped noticeably. For Week Ending: January 19, 2007Seasonally AdjustedTotal Mortgage Activity: Down 8.4%MBA Market Index Now: 611.3Index One Week Earlier: 667.2Unadjusted BasisTotal Mortgage Activity: Down 5.7%One Year Ago: Up 3.8%Seasonally AdjustedRefinance Activity: Down 9.6%Index Now: 1848.8One Week Earlier: 2045.8Purchase Activity: Down 8.4%Index Now: 402.7One Week Earlier: 439.7Percentage of Total ActivityRefinance Share: 47.8%One Week Earlier: 49.9%Adjustable-Rate Mortgage (ARM) Share: 20.3%One Week Earlier: 21.2%Source: Mortgage Bankers Association
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Kevin Rhodes

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