mortgage

The mortgage giant says that it lost $4.66 billion during the April through June quarter. That takes into account $1.6 billion in dividends paid to the Treasury Department. It compares with a loss of $6 billion, or $1.85 per share

Freddie Mac is requesting $1.5 billion in extra federal aid after posting a loss over the spring quarter.

In June, the bank settled a dispute with outside investors, including PIMCO and Blackrock (NYSE:BLK) who purchased Countrywide Financial mortgage bonds.

The settlement, which also included securities trustee Bank of New York Mellon (NYSE:BK), has to be approved by a New York court.

Bank of America (NYSE:BAC) has a potential upside of 58.3% based on a current price of $8.83 and an average consensus analyst price target of $13.98.

New York Attorney General Eric Schniederman will oppose Bank of America's (NYSE:BAC) $8.5 billion settlement over repurchasing toxic mortgage loans.

Lawmakers have criticized the ratings agencies in the past, describing them as "enablers," and helping to fuel the $1 trillion bubble in mortgage-securities that led to the financial meltdown.

The ratings firms have thus far been able to avoid the regulatory crackdown, and have fended o

The Securities and Exchange Commission has expanded its long running probe into mortgage-bond related deals to include major credit-rating companies, such as Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP

In May, sales in the program totaled $10 billion, the report said.

Credit Suisse shares are down 0.07%, or $0.03, to $43.09. JPMorgan shares are down 2.52% to $42.15.

Shares of JPMorgan Chase (NYSE:JPM) and Credit Suisse (NYSE:CS) have purchased more U.S. Treasury mortgage bonds than any other institutions since the government began sales of the debt in March, according to Bloomberg.

While the average rate remained below 5%, it is well off its low of 4.17% in November. Low rates have been a saving grace for the battered housing market, but strict underwriting standards for mortgages have throttled many prospec

The cost of a 15-year fixed mortgage rose to 4.09% from 4.04%, after touching 3.57% in November.

The cost of a 30-year fixed-rate mortgage edged up to an average 4.86% from 4.81% the week before, according to Freddie Mac, which tracks rates.

The new estimate includes the $700 billion Troubled Asset Relief Program, as well as other Federal Reserve and government programs.

The U.S. Treasury announced on Wednesday that government financial rescue programs have begun to turn a profit, and estimates a total profit of about $24 billion based on current market conditions.

The bank returned $79 billion to the U.S. Treasury, a 68% increase over 2009.

The Federal Reserve profited $81.7 billion in 2010, a record high, up from $53.4 billion in 2009.

The Treasury acquired the MBS in 2008 and 2009 at the height of the financial crisis, as the near total shutdown of credit markets threatened to cut off all credit for homebuyers.

The Treasury Department will sell up to $10 billion mortgage backed securities (MBS) a month of its total $142 billion portfolio it has acquired over the last several years, the department announced on Monday.

The closing of the transaction is subject to the completion of certain conditions, including the successful completion of a common stock offering by CXS and obtaining certain consents. The acquisition, which is valued at approxima

CreXus Investment (CXS) today announced that it has signed a definitive asset purchase agreement with Barclays Bank's (BCS) affiliate, Barclays Capital Real Estate, to purchase a portfolio of commercial real estate assets.

Financial shares are mixed as regulators eye several big sector names for possible manipulation of the LIBOR, which is used to set adjustable interest rates on a wide variety of loans. In mid-day news, the Securities and Exchange