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Real Estate News: Fannie’s Credits, New Bubbles, CMBS Savior

Source: Wall Street Journal

Nov 04, 2009

Summary

Real Estate News compiles a daily wrap-up from each morning’s Wall Street Journal and other news sources.

Buffett Joins Goldman in Bid for Tax Credits (WSJ): Berkshire Hathaway has joined Goldman Sachs in the investment bank’s bid to buy $3 billion in tax credits from government-owned mortgage giant Fannie Mae.

Cash Spurs Fears of New Bubble (WSJ): The World Bank and IMF are raising concerns that efforts to stoke a recovery will create asset bubbles in real estate, stock and currency markets.

Wells Fargo Bets on Recovery to Fix Mortgages (WSJ): Wells Fargo & Co.’s strategy for modifying troubled Pick-A-Pay mortgages looks like a game of kick-the-can-down-the-road.

CMBS Savior? Deal Is Nearer (WSJ): A closely watched deal that may help uncork the commercial-property debt market is picking up steam after being threatened by some queasiness by the Fed.

FHA Digging Out After Loans Sour (WSJ): The FHA is due to release its annual audit, which will show the projected value of its reserves has fallen below a federally mandated level, raising concerns the agency may need

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