Posts Tagged ‘PRIME’Keepin’ It Real Estate: Jumbo Prime R.I.P.By ANDREW JEFFERY This post first appeared on Minyanville. Countrywide was to subprime lending what Thornburg Mortgage was to jumbo-prime. Now, both are out of business. Thornburg said it expects to file for Chapter 11 bankruptcy protection, ending a nearly 2-year struggle to fend off creditors and survive the credit crunch. The company, once the [...] Freddie Blows Through Another $35 BillionBy ANDREW JEFFERY This post first appeared on Minyanville. $100 billion just isn’t what it used to be. Over the weekend, Freddie Mac (FRE) requested a second draw on its Treasury Department credit facility, saying $30-35 billion would suffice to keep its net worth above zero, thank you very much. After taking $14 billion in [...] JPMorgan Tackles Troubled MortgagesThis post first appeared on Minyanville. The mortgage bailout parade marches on. Just days after rival Bank of America (BAC) announced plans to modify hundreds of thousands of mortgages, JPMorgan (JPM) released details of a homeowner rescue plan of its own on Friday afternoon. Following its takeover of both Bear Stearns and Washington Mutual, JPMorgan’s inventory of [...] Morgan Stanley Latest Band-Aid Over Fannie, Freddie’s Bullet HoleThis post first appeared on Minyanville and our sister site Dawn Patrol. It looks like all those short-sellers might have been on to something. Freddie Mac (FRE), the beleaguered mortgage giant that was just weeks ago on the brink of collapse, released second quarter results this morning that were nothing short of abysmal. Along with [...] |