New york Mortgage News

IndyMac deal slowed by Fannie mortgage issues: source (Reuters via Yahoo! News)
The pending sale of failed mortgage lender IndyMac hit a snag as mortgage giant Fannie Mae negotiates with federal regulators over the value of about $1 billion in obligations it believes IndyMac owes it, according to a source familiar with the matter.

Pound Has Weekly Drop Against Dollar as Mortgage Approvals Fall (Bloomberg)
Jan. 2 (Bloomberg) -- The pound slid for a third week against the dollar, the longest run of declines since September, and two- year gilt yields tumbled to the lowest level on record as reports showed U.K. mortgage approvals fell and manufacturing shrank.

Stocks ring in new year with gains (USA Today)
Stocks began the new year optimistically Friday as investors brushed off a weaker-than-expected report on manufacturing and sent stocks higher. The Dow Jones industrials were up more than 100 points.

(AFX UK Focus) 2009-01-02 15:08 UPDATE 1-Freddie Mac not issuing REMICs in January (Interactive Investor)
NEW YORK, Jan 2 (Reuters) - Freddie Mac said on Friday said it will not issue a reference REMIC (Real Estate Mortgage Investment Conduit) offering during the week of January 12. The agency has a monthly window based on its 2009 funding calendar to sell reference REMICs and can opt each month to skip issuance during that period. The last time it sold this type of securities was in a $500 million ...

World markets kick New Year off in style (AP via Yahoo! News)
World stock markets rallied strongly Friday on the first trading day of 2009 as New Year's optimism more than offset grim economic news from around the globe.

IndyMac deal slowed by Fannie mortgage issues: source (Washington Post)
WASHINGTON (Reuters) - The pending sale of failed mortgage lender IndyMac hit a snag as mortgage giant Fannie Mae negotiates with federal regulators over the value of about $1 billion in obligations it believes IndyMac owes it, according to a source familiar with the...

Mortgage rates near record low keep demand at 5-year high (USA Today)
Demand for mortgage applications was unchanged during the Christmas holiday week, holding at the highest levels in more than five years with loan rates near record lows, an industry group said Wednesday.

GM, GMAC loosen finance pact after lender bailout (Washington Post)
NEW YORK (Reuters) - GMAC LLC on Friday said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors Corp cars and trucks.