Freddie Mac Posts Dismal Q2 Earnings, Expenses Down Q/q - Yahoo Finance

Freddie Mac reported benefit for credit losses of $0.6 billion in the quarter, compared with a provision of $0.1 billion in the prior quarter. The benefit was primarily driven by reduced loss severity as recoveries on distressed property dispositions improved. Furthermore, segment-wise, on a sequential basis, Single-family Guarantee and Multifamily segments recorded a rise of 100% and 25% in earnings, respectively, while Investments segment reported a fall of 90.9%. Based on net worth of $4.3 billion, Freddie Macs dividend obligation to the Treasury will stand at $1.9 billion in Sep 2014. Notably, including this dividend obligation, the companys aggregate cash dividends paid to the Treasury will total $88.2 billion as compared with cumulative cash draws of $71.3 billion received from the Treasury through Jun 2014. Further, since Jan 1, 2009, Freddie Mac provided $2.3 trillion of liquidity to the mortgage market, which helped in funding 7.9 million refinancings, 2.3 million home purchases and 1.7 million units of multifamily rental housing. Moreover, the company helped about 1 million borrowers to avoid foreclosure, which included 64,000 in first-half 2014. Credit Quality As of Jun 30, 2014, Freddie Macs new single-family book (loans acquired after 2008, excluding HARP and other relief refinance mortgages) was 56% of the UPB of Freddie Macs single-family credit guarantee portfolio, while HARP and other relief refinance loans accounted for 21% of the portfolio. Further, Freddie Macs 2005-2008 legacy single-family book continued to decline. As of Jun 30, 2014, the book represented 15% of the portfolio and recorded 81% of the companys single-family credit losses during first-half 2014. Recent Settlements During second-quarter 2014, Freddie Mac and the Federal Housing Finance Agency (:FHFA) entered into agreements with a number of firms for settling litigations related to Freddie Macs investment in certain PLS. Puedes ver la version sin traducir en http://finance.yahoo.com/news/freddie-mac-posts-dismal-q2-134008405.html Fitch Affirms Ocwen's RMBS Primary, Special and Master Servicer Ratings - Yahoo Finance Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done Robinho agrees Santos loan deal 1 hour ago . View photo AC Milan's Brazilian forward Robinho takes part to a training session at the Vicente Calderon stadium in Madrid on March 10, 2014 (AFP Photo/Pierre-Philippe Marcou) Sao Paulo (AFP) - Brazilian star Robinho left AC Milan for Santos on loan Thursday, rejoining the club where he started his career in 2002. "It's my home, it's a place where I feel good and where I was born to football," said the 30-year-old. Robinho has been at AC Milan since 2010 having also featured for Real Madrid and Manchester City. Soccer Puedes ver la version sin traducir en http://news.yahoo.com/robinho-agrees-santos-loan-deal-224755953--sow.html US Leveraged Loan Fund Outflows Quadruple, To $1.5B; ETF Influence Grows - Forbes All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. Puedes ver la version sin traducir en http://money.cnn.com/2014/08/08/retirement/retirement-savings/index.html?section=money_pf 31% of Americans have no retirement savings at all - Aug. 8, 2014 Moreover, Agrobanco has agreed to comply with the following financial covenants: --Maintain for each month during the term of the loan an Efficiency Ratio (operating expenses to total financial margin) of less than 65%; --Maintain at all times a Local Currency Liquidity Ratio (Liquid Assets to short-term liabilities in PEN) equal to or greater than 10%; --Maintain at all times a Loans Coverage Ratio (Total Non-Performing Loans to Total Loans) not to exceed 8%; --Maintain a Risk Weighted Capital Adequacy Ratio (Regulatory Capital Ratio) of not less than 20%; --Maintain at all times Loan Loss Reserve to Past Due Loans equal or greater than 175%. Based on information at the end of March 2014, the bank meets these covenants. In Fitch's view, the violation of any of these covenants may result in an acceleration of the payments although, even under such event, Agrobanco should be able to repay this loan based on its own financial strength and/or provided the potential support from the Republic of Peru. RATING SENSITIVITIES As a fully state-owned financial institution, deeply integrated within the government, Agrobanco's creditworthiness and debt ratings are directly linked to those of the Republic of Peru. Hence, its ratings should move in line with any potential change in Peru's sovereign ratings. For more information on the key rating drivers and the sensitivities of Agrobanco's ratings, please refer to the press release: 'Fitch Assigns 'BBB+' FC IDR to Peru's Banco Agropecuario (Agrobanco); Outlook Stable', dated Oct. 31, 2013, available at www.fitchratings.com . Additional information is available on www.fitchratings.com Applicable Criteria and Related Research: --'Global Financial Institutions Rating Criteria' (Jan 31, 2014). Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=848314 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS . IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM '. Puedes ver la version sin traducir en http://finance.yahoo.com/news/fitch-rates-banco-agropecuarios-loan-195700982.html Robinho agrees Santos loan deal - Yahoo News In addition, Ocwen is required to pay $67 million into a $127 million fund designed to provide cash payments to borrowers whose homes were sold in a foreclosure sale between Jan. 1, 2009, and Dec. 31, 2012. Fitch expects that the principal reduction modifications under this agreement will be made primarily on mortgage loans in non-agency RMBS transactions. In February 2014, the New York Department of Financial Services (NY DFS) requested that Ocwen's indirect parent, Ocwen Financial Corporation, indefinitely suspend its previously announced purchase of mortgage servicing rights from Wells Fargo Bank, N.A. due to its concerns regarding Ocwen's portfolio growth and capacity to service additional loan volume while maintaining appropriate servicing standards. Fitch believes a pause in the pace of Ocwen's acquisitions would help the company to fully complete its integration of recent acquisitions. In August 2014, NY DFS announced that it is looking into Ocwen's use of a related company, Altisource Portfolio Solutions, in its force-placed insurance process. Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Puedes ver la version sin traducir en http://finance.yahoo.com/news/fitch-affirms-ocwens-rmbs-primary-193500885.html Fitch Rates Banco Agropecuario's Loan Through Citibank 'A-(emr)' - Yahoo Finance 6, from just $406 million the prior week, according to Lipper. And the influence of bank-loan ETFs grew during the week, to 14%of the outflow, or negative $211 million, from essentially nil the prior week. There have now been 15 weeks of outflows over the past 17 weeks, for a combined negative $8.5 billion over that span, which follows a record-shattering 95-week inflow streak totaling $66.7 billion. The trailing four-week average deepened to negative $689 million per week on average, from negative $302 million last week. This measure remains just under a recent peak, at $858 million in the week ended June 11. Year-to-date flows pushed deeper into negative territory, at $1.6 billion, based on a net withdrawal of $2.1 million from mutual funds set against a net inflow of $550 million to ETFs. In the comparable year-ago period, inflows were $35.3 billion, with 11% tied to ETFs. The change due to market conditions was negative $100 million this week compared to total assets of $105.7 billion at the end of the observation period, so the change is essentially nil. The ETF segment comprises $7.9 billion of the total, or approximately 7%. Matt Fuller Puedes ver la version sin traducir en http://www.forbes.com/sites/spleverage/2014/08/07/us-leveraged-loan-fund-outflows-quadruple-to-1-5b-etf-influence-grows/