Time to Buy Fannie/Freddie Stocks Yet? Mortgage Litigation Tally, Another LPS Settlement

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Posted To: Pipeline Press

"Talent hits a target no one else can hit; genius hits a target no one else can see." Hedge funds and investment banks have a lot of talent, and periodicals note how some prominent hedge funds have been buying preferred shares in Freddie Mac and Fannie Mae . And something tells me those guys don't buy stuff on whims. The preferred shares have been rallying lately as the GSEs post massive profits and the overall housing market improves. But the official stance is that it is unlikely Fannie/Freddie will be recapitalized and sold back to investors. As you would expect, the hedge funds have been lobbying Washington for the government to sell its stake in the firms . Switching gears to the FHA issue and high priced loans, I received this note relating to the FHA/HPML issue from a private mortgage...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/05152013-mortgage-litigation-bravehart.aspx

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