Obama to back mortgage finance reform to speed housing recovery

Greek finance minister says euro zone needs common debt market

A government reinsurer of mortgage securities could backstop private capital in a crisis, the official said. Obama would want the Senate measure to go farther in helping first-time home buyers and in making sure affordable rental housing is available, the official added. The Senate bill, though, remains at odds with the bill advancing in the Republican-controlled House of Representatives that would liquidate Fannie Mae and Freddie Mac over five years and limit government loan guarantees. RESTRUCTURING MORTGAGE SYSTEM TO TAKE YEARS Fannie Mae and Freddie Mac became dominant players in housing finance when private lending to home-buyers declined after the financial crisis. The government-backed companies own or guarantee more than half of all U.S.

House finance regulator mulls action on “eminent domain” mortgage seizures

On Wednesday, an investor group filed a federal lawsuit against the northern California city in a bid to stop the plan. The lawsuit was filed in a northern California court by mortgage bond trustees Wells Fargo and Deutsche Bank on behalf of an investor group that includes Pacific Investment Management Co, or PIMCO, BlackRock Inc and DoubleLine Capital LP. The use of eminent domain powers to restructure distressed mortgages has been debated by communities for more than a year and has been controversial with Wall Street banks and bond investors from the start. Alfred Pollard, FHFA’s general counsel, said in a memorandum posted on the agency’s website on Thursday that the uncertainty surrounding the use of eminent domain raises several issues, including its possible impact on the mortgage market and potential losses that Fannie Mae and Freddie Ma could incur.

CFO Launches New Application Services Learning Center; Everything Finance Executives Need to Know About the Cloud

Credit: Reuters/Yorgos Karahalis ATHENS | Fri Aug 9, 2013 7:39am BST ATHENS (Reuters) – The euro zone needs a common debt market to exit the crisis, Greece’s finance minister Yannis Stournaras said on Friday. “The euro zone must deal with its main problems,” Stournaras said. “A banking union… an economic policy which combines fiscal consolidation and growth, not all countries can impose austerity …

The new site allows CFOs and other finance executives online access to resources designed to help them unlock the full functionality of their business applications, make informed purchase decisions, and learn about the benefits and risks of converting to a cloud platform. There is no doubt that the market for business application software is on the rise. According to Gartners latest worldwide IT spending forecast (March 2013), spending on enterprise software increased to $296.6 billion in 2013, a 4.6% increase over 2012. As spending has increased, so have performance issues; over 79% of respondents to a recent survey (KillerApps2013) say their business applications suffered performance problems.

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