By 2020 the mortgage industry should be posting "economic" profits of $79 billion, according to a new report released by Morgan Stanley analyst Ken Posner. This compares to $15.3 billion in economic profits earned by the industry in 2000
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After bleeding red ink for several years, E-LOAN finally posted its first quarterly net profit ever -- $1.9 million in the fourth quarter. However, the company made a non-reoccurring $4.7 million by selling its E-LOAN Japan unit to Softbank Finance. Maybe next quarter guys...
Should FM Watch fold its tents up for the year? Late this past week U.S. Treasury Secretary Paul O'Neill expressed his support and admiration for Fannie Mae and Freddie Mac. This comes after the Bush Administration expressed concerns about the growth of these two GSEs in its new budget. What exactly did O'Neill say? According to one report it went something like this: "I have no intent of creating uncertainty or concern... these are great institutions... It's a wonderful story.'' Mr. O'Neill and Fannie Mae chairman Franklin Raines are said to be close, which means FM Watch director Mike House has his work cut out for him...
Then again, prior to September 11, Mr. O'Neill was rumored to be leaving Treasury...
Little known fact: Fannie Mae has a company credit union. It has about $10 million in deposits...
Fidelity National Information Solutions, a real estate-related data, technology solutions and services company, will present at the annual Roth Capital Partners Growth Stock Conference, February 18 - 20
The Office of Management and Budget is forecasting a sharp increase in spending on bank failures over the next six years. This should mean more work for the Federal Deposit Insurance Corp., but new agency chairman Don Powell said he'd like to chop 600 heads from the agency this year...
