Freddie Mac has announced that it is closing the book on a temporary exchange offer used to make uniform trades of to-be-announced mortgage-backed securities possible several years ago. Processing Content The decision follows the reduction in the size of the market for older bonds that predated the arrival of UMBS in 2019. Around $1.5 trillion […]
Freddie Mac ending exchange offer used to create UMBS Read More »
California Attorney General Rob Bonta’s office countered a lawsuit from lenders this week, arguing a new zombie seconds law doesn’t bar certain foreclosures outright.Eric Lee/Bloomberg Lenders are raising a host of arguments to halt California’s new zombie seconds law, which they say will freeze the secondary mortgage market. Processing Content The California Mortgage Association and
California law hurts secondary mortgage market, lenders say Read More »
President Donald Trump looked to reassure Americans concerned about the rising cost of living by announcing plans to award a special holiday payment to military service members and roll out new housing reforms in the new year. Processing Content Trump announced the plans Wednesday during a prime-time address from the White House, which he used
Trump announces military ‘warrior dividend,’ housing reform Read More »
The Trump administration’s goal of releasing housing giants Fannie Mae and Freddie Mac from government control will take far longer than many investors realize, and there are underappreciated risks for retail traders who’ve driven a threefold surge in their shares, according to a new Bloomberg Intelligence report. Processing Content It will take “months if not
Fannie, Freddie IPO under Trump far from sure thing: BI says Read More »
A government-sponsored enterprise stock offering appears to still be in the works with care being taken not to adversely influence mortgage-backed securities trading as momentum builds to use their portfolios to that end. Processing Content “It’s not off the table. We’re working on it very deliberately,” Treasury Secretary Scott Bessent told Fox Business News’ Maria
Bessent: Fannie, Freddie offering hinges on MBS spreads Read More »
Kenny Smith, a former Deloitte Consulting vice chairman is the new CEO of Freddie Mac, the company announced. He starts his new position on Dec. 17. Processing Content Michael Hutchins, who occupied the seat twice on an interim basis, will remain as Freddie Mac’s president. Hutchins had replaced Diana Reid after she was ousted in
Freddie Mac appoints Kenny Smith as latest CEO Read More »
Ginnie Mae announced its plans to change liquidation reporting requirements in a move that aligns its policies more closely with the government-sponsored enterprises and mortgage-market participants. Processing Content The change serves to enhance operations and improve accuracy and timeliness of liquidation event data, which are used to help determine payments tied to Ginnie Mae’s mortgage-backed
Ginnie Mae aligns liquidation reporting with GSEs Read More »
Scott Bessent Photographer:Al Drago/Bloomberg The Financial Stability Oversight Council’s take on its guiding principles is shifting, according to statements by Treasury Secretary Scott Bessent on Thursday. Processing Content Bessent said in the open part of the group’s meeting that the council needs to ensure its original focus on regulation to control risks associated with the
FSOC tilts scales in oversight toward deregulation Read More »
Contractors repair the roof of a damaged home following a tornado in Earlington, Kentucky. Photographer:Luke Sharrett/Bloomberg Fannie Mae is broadening the parameters of its financing for adjustable-rate mortgage, renovation, manufactured housing and accessory dwelling units. Processing Content Fannie will no longer reject adjustable-rate mortgages in cases where the difference between the initial and fully-indexed rate of
Fannie expands ARM and renovation lending Read More »
Optimal Blue’s Market Volume Index, which tracks mortgage rate lock activity, fell below 100 in November for the first time since August, reflecting typical seasonal trends. Processing Content Still, aided by lower interest rates in the second half of the year, November marked the strongest reading for this metric since 2021, strong by any measure,
Lower rates drive best November lock activity in years Read More »