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FHFA’S 2013 Report Shows Record Income for Fannie Mae and Freddie Mac, But Earnings Are Likely to Fall

On Friday, Federal Housing Finance Agency (FHFA) released its 2013 Report to Congress, revealing recent GSE milestones but anticipating future problems. The annual report is statutorily-required under the Federal Housing...more

6/20/2014 - Dodd-Frank Fannie Mae FHA Freddie Mac Housing Market Information Reports

FHFA Announces Reversal of Plans to Wind Down Fannie Mae and Freddie Mac

Early last week, recently-appointed director of the Federal Housing Finance Agency (FHFA) Melvin L. Watt, announced plans to keep GSEs Fannie Mae and Freddie Mac going strong. This new strategy is in stark contrast to the...more

5/19/2014 - Fannie Mae FHFA Freddie Mac GSE HOME Funds Loans Mortgages

SEC To Demand More Public Accountability This Year From Wrongdoers In Financial Markets

SEC Chair Mary Jo White announced last week that the SEC is changing its protocol relating to admissions of guilt in settlements with wrongdoers in the securities markets. Historically, SEC practice was to settle cases...more

2/5/2014 - Admissions Compliance Enforcement Actions Mary Jo White SEC

Construction Tip #7: Developers Should Not Rely Entirely On Standard Forms Of Construction Contracts

Anyone with experience in the construction industry knows that form construction contracts are routinely used to memorialize agreements for the construction of new projects. Standardized contract forms promulgated by various...more

1/3/2014 - Construction Contracts Contract Drafting Contract Formation Indemnification Liability Insurance Liquidated Damages

JPMorgan Chase Agrees to $13 Billion Settlement with the U.S. Justice Department for Knowingly Selling Toxic Mortgage-Backed...

On Tuesday, the United States Justice Department announced that it finalized a settlement agreement with JPMorgan Chase for $13 billion. This settlement will resolve a multitude of state and federal investigations into...more

11/21/2013 - DOJ JPMorgan Chase Mortgage-Backed Securities Mortgages Settlement

Wells Fargo Settles Mortgage Buyback Litigation with Freddie Mac for $869 Million

As of June 30 of this year, Wells Fargo & Co., this nation’s largest mortgage lender, had received demands to repurchase $1.4 Billion out of the $343 billion of residential-mortgage loans Wells Fargo sold to Freddie Mac and...more

10/8/2013 - Breach of Duty Buyback Programs Freddie Mac Mortgages Settlement Wells Fargo

Construction Concepts Tip #5: Developer Protection Against Tenant-Improvements

Before Contracting to Lease Commercial Space, Be Sure to Protect the Property Against Potential Liens - As multiuse high-rises and commercial buildings are once again springing up in areas of Downtown, Brickell, and...more

7/5/2013 - Commercial Leases Construction Liens Contract Drafting Land Developers Liens Property Improvements Tenants

Federal Judges Refuse to Permit “Shotgun” Style Mortgage-Buyback Lawsuits Filed by Lehman Brothers

Earlier this year, a United States District Court judge for the Southern District of Florida (Judge James Lawrence King) severed and dismissed 7 out of 8 mortgage repurchase claims filed by Lehman Brothers Holdings, Inc....more

5/26/2013 - Buyback Programs Dismissals Lehman Brothers Mortgages Motion to Consolidate Repurchases

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