While Fannie Mae makes profit million or American home owners are losing their homes because Fannie Mae does not allow to modify the loan or new appraisal value.. Mean time BOAmerica clean its hand as PILATOS did, saying they sold the mortgage to Fannie Mae and ........JR..
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China begins congress to change leadership. Outgoing Chinese President Hu Jintao has set his successor, who's expected to be Vice President Xi Jinping, a target of doubling per-capita income by 2020. Speaking at the 18th Communist Party Congress, which opened today and will herald a once-in-a-decade change of leadership, Hu also called for a deeper financial overhaul in which the private sector will have "equal access to the factors of production."
ITC clears way for tariffs on Chinese solar panels. The ITC yesterday voted 6-0 that U.S. solar-panel manufacturers have been harmed by illegal dumping from their Chinese rivals, opening the way for the Commerce Department to impose tariffs. The department has said these will mainly be 24%-36%, although some companies face duties of up to 250%. The Chinese are already planning their retaliation in what could turn into a bit of a trade war.
Fannie Mae makes net profit of $1.8B. Fannie Mae (FNMA.OB) swung to a net profit of $1.8B in Q3 from a $5.1B loss a year ago as an improving housing market enabled a $9B drop in loan loss reserves to $67B. As with Freddie Mac (FMCC.OB), more and more of Fannie's loan book - now 63% - consists of mortgages originated post-bubble, thus making them stellar credits - theoretically. The company expects to report an annual profit for the first time since 2006.
Top Stories
China begins congress to change leadership. Outgoing Chinese President Hu Jintao has set his successor, who's expected to be Vice President Xi Jinping, a target of doubling per-capita income by 2020. Speaking at the 18th Communist Party Congress, which opened today and will herald a once-in-a-decade change of leadership, Hu also called for a deeper financial overhaul in which the private sector will have "equal access to the factors of production."
ITC clears way for tariffs on Chinese solar panels. The ITC yesterday voted 6-0 that U.S. solar-panel manufacturers have been harmed by illegal dumping from their Chinese rivals, opening the way for the Commerce Department to impose tariffs. The department has said these will mainly be 24%-36%, although some companies face duties of up to 250%. The Chinese are already planning their retaliation in what could turn into a bit of a trade war.
Fannie Mae makes net profit of $1.8B. Fannie Mae (FNMA.OB) swung to a net profit of $1.8B in Q3 from a $5.1B loss a year ago as an improving housing market enabled a $9B drop in loan loss reserves to $67B. As with Freddie Mac (FMCC.OB), more and more of Fannie's loan book - now 63% - consists of mortgages originated post-bubble, thus making them stellar credits - theoretically. The company expects to report an annual profit for the first time since 2006.
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