Morgan Stanley has agreed to pay $1.25 billion to the Federal Housing Finance Agency to resolve claims that it sold shoddy mortgage securities to Fannie Mae and Freddie Mac. In a securities filing late Tuesday, Morgan Stanley said that it had reached an agreement “in principle” with the agency, which […]
Tag: Mortgage
Nigeria puts $300 million World Bank cash into mortgage agency
Nigeria has put $300 million worth of World Bank aid money into a mortgage-backed guarantee that it hopes will boost lending via the creation of a secondary market, the finance ministry said on Wednesday. Africa’s most populous country and second biggest economy suffers a woeful housing shortage, with somewhere between […]
Bank of America fourth-quarter profit jumps as bank shakes off financial crisis
Bank of America Corp said on Wednesday quarterly profit surged by nearly $3 billion as revenue increased and mortgage losses plunged, the clearest sign yet the bank was shaking off the impact of the financial crisis. Results were strong across most of its businesses. Consumer banking had its best quarter […]
