Lameier, Welty, Diaz and Stivers elected to four-year terms; Rogers rejoins Board;Vance re-elected vice chair CINCINNATI, Nov. 30, 2023 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced the results of the FHLB's 2023 director elections.
Potential homebuyers found further relief on Thursday after mortgage rates fell in the U.S. for the fifth consecutive week. The average rate for a 30-year loan fell to 7.22%, down from 7.29% last week, said Freddie Mac, the mortgage-backed securities broker. Although conditions for buyers appear to be easing, 30-year mortgage rates remain close to their peaks.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 7.22 percent. ?Market sentiment has significantly shifted over the last month, leading to a continued decline in mortgage rates,? said Sam Khater, Freddie Mac?s Chief Economist.
Company Scores 100 on 2023-2024 Corporate Equality Index for Ninth Consecutive Year WASHINGTON, Nov. 30, 2023 Fannie Mae?today announced it has been recognized with the Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion from the Human Rights Campaign Foundation, receiving a score of 100 on its 2023-2024 Corporate Equality Index for the ninth consecutive year.
The Federal Home Loan Bank of Dallas is pleased to announce the reelection of Felipe Rael to the FHLB Dallas Board of Directors, filling a public interest independent director seat. This press release features multimedia. Mr. Rael brings more than 20 years of housing industry experience to the Board.
WASHINGTON, Nov. 29, 2023 Fannie Mae's October 2023 Monthly Summary is now available. About Fannie MaeFannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. Fannie Mae Newsroomhttps://www.fanniemae.com/newsroom.
National banks and mortgage lenders are scrambling to incorporate image recognition into their appraisal review process, as the leading Government Sponsored Enterprise announced it will use "image recognition" to detect incorrect quality and condition ratings. GSEs require appraisal reports to include interior and exterior photos of subject properties.
Webcast and Conference Call Scheduled for Tuesday, Dec. 12 at 4:30 p.m. ET Sallie Mae?, formally SLM Corporation (SLM), will host an investor forum on Tuesday, Dec. 12, 2023 at 4:30 p.m. ET to discuss the evolution of its balance sheet and capital allocation strategy. A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website.
- U.S. annual home price growth accelerated again in September, underscoring the rebound of the housing market as it entered the final quarter of the year, data showed on Tuesday. Home prices rose 6.1% on a year-over-year basis in September, up from an upwardly revised 5.8% increase in the prior month, the Federal Housing Finance Agency said.
U.S. annual home price growth accelerated again in September, underscoring the rebound of the housing market as it entered the final quarter of the year, data showed on Tuesday. Home prices rose 6.1% on a year-over-year basis in September, up from an upwardly revised 5.8% increase in the prior month, the Federal Housing Finance Agency said.
NEW YORK, Nov. 27, 2023 The Federal Home Loan Bank of New York announced today the results of the 2023 election for four positions on the FHLBNY's Board of Directors whose terms will each commence on January 1, 2024. The terms of all the positions will run for four years, expiring on December 31, 2027.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 7.29 percent. ?Mortgage rates continued to decrease heading into the Thanksgiving holiday,? said Sam Khater, Freddie Mac?s Chief Economist.
Freddie Mac today posted to its website its Monthly Volume Summary for October 2023, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. Freddie Mac?s mission is to make home possible for families across the nation.
Home Sales Likely to Weaken in Near Term but Bottom Out Early Next Year WASHINGTON, Nov. 21, 2023 Economic growth remains likely to decelerate and ultimately result in a mild recession in 2024, followed by a return to growth in 2025, according to the November 2023 commentary from the Fannie Mae Economic and Strategic Research Group.
As interest rates inched closer to eight percent, sales of homes across the Empire State dipped once again in October, according to the housing report released today by the New York State Association of REALTORS?. Interest rates peaked in October at 7.79 percent on a 30-year fixed-rate mortgage, according to Freddie Mac ? finishing the month averaging 7.62 percent.
WASHINGTON, Nov. 21, 2023 Fannie Mae?today announced the winning bidder for its twenty-second Community Impact Pool of non-performing loans. The CIP awarded in this most recent transaction includes 61 loans with an aggregate UPB of $18,404,738; average loan size of $301,717; and weighted average note rate of 5.75%. The cover bid, which was the second highest bid, for the CIP was 82.12% of UPB.
Mr. Seybold Fills One of Three Open Positions on FHLB Dallas Board. The Federal Home Loan Bank of Dallas is pleased to announce the election of Brett Seybold to the FHLB Dallas Board of Directors as a member director representing Texas. This press release features multimedia.
Federal National Mortgage Association (FNMA): * FANNIE MAE EXECUTES ITS FINAL CREDIT INSURANCE RISK TRANSFER TRANSACTION OF 2023 ON $11.5 BILLION OF SINGLE-FAMILY LOANS Source text for Eikon: Further company coverage:
The Federal Home Loan Bank of Indianapolis has awarded $15.12 million in affordable housing grants to 32 affordable housing developments in Indiana, Michigan and Kentucky through the Bank?s 2023 Affordable Housing Program. Last year, the Bank awarded more than $7 million, making this year?s AHP grant distribution a 114% increase in funds supporting affordable housing.
WASHINGTON, Nov. 20, 2023 Fannie Mae announced today that it has executed its ninth and final Credit Insurance Risk Transfer? transaction of 2023. "We appreciate the continued support of the 21 insurers and reinsurers that have committed to write coverage for this deal," said Rob Schaefer, Fannie Mae Vice President, Capital Markets.
Featuring Federal Housing Finance Agency Director Sandra L. Thompson NEW YORK, Nov. 20, 2023 /PRNewswire/ -- The?CRE Finance Council, the trade association that exclusively represents the $5.9 trillion commercial and multifamily real estate finance industry, is happy to announce that its Annual D.C. Symposium returns on November 28, 2023.
Fannie Mae Returns to Market with $595 Million Transaction, Complementing Other Multifamily Credit Risk Sharing Programs WASHINGTON, Nov. 20, 2023 /PRNewswire/ -- Fannie Mae?priced its third Multifamily Connecticut Avenue Securities?? transaction, MCAS Series 2023-01, a $595 million note offering.
The Federal Home Loan Bank of Dallas is pleased to announce two new members to its Board of Directors and the re-election of an incumbent director. This press release features multimedia. Brett Seybold, senior vice president and treasurer for the United Services Automobile Association, headquartered in San Antonio, Texas, was elected to a member director position representing Texas.
Federal National Mortgage Association (FNMA) : * FANNIE MAE PRICES $609 MILLION CONNECTICUT AVENUE SECURITIES REMIC DEAL Source text for Eikon: Further company coverage:
WASHINGTON, Nov. 17, 2023 Fannie Mae priced Connecticut Avenue Securities? Series 2023-R08, an approximately $609 million note offering that represents Fannie Mae's eighth CAS REMIC? transaction of the year. "Our final deal of 2023 was met with very strong demand, including new investor interest," said Kathleen Pagliaro, Fannie Mae Vice President, Credit Risk Transfer.
Saba Capital Management founder Boaz Weinstein said agency mortgage-backed securities appear more fruitful than corporate bonds at the moment on bets that the U.S. Federal Reserve has reached the end of its rate-hiking cycle.
NEW YORK, Nov. 16, 2023 The Federal Home Loan Bank of New York announced today that Larry E. Thompson has been elected by its Board of Directors to serve as Board chair for a two-year term that will commence on January 1, 2024.
Dr. Janaki Akella, Christopher T. Leech, and Shannon Watkins Bring Decades of Experience in Technology, Marketing, Operations, and Growth Strategy to the Board Sallie Mae?, formally SLM Corporation (SLM), today announced the appointments of Dr. Janaki Akella, Christopher T. Leech, and Shannon Watkins to its board of directors, effective Jan. 2, 2024.
KBRA releases its Canadian CMBS loan default and loss study, which reviews Canadian commercial mortgage-backed securities loans generally originated for securitization between Q4 1998 and Q2 2022. The cumulative default rate within the study population is 3.8% based on the performance data from 1998 through Q2 2023. Key Takeaways Click here to view the report.
U.S. mortgage rates fell for the third-straight week this week to the lowest since late September, signaling falling yields in the Treasury market that largely determine home borrowing costs may be boosting housing market affordability. The average rate on 30-year fixed-rate mortgages dipped to 7.44% from 7.50% the week before, according to a Freddie Mac survey released on Thursday.
U.S. mortgage rates fell for the third-straight week this week to the lowest since late September, signaling falling yields in the Treasury market that largely determine home borrowing costs may be boosting housing market affordability. The average rate on 30-year fixed-rate mortgages dipped to 7.44% from 7.50% the week before, according to a Freddie Mac survey released Thursday.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 7.44 percent. ?For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,? said Sam Khater, Freddie Mac?s Chief Economist.
FHLB Dallas? Partnership Grant Program Provides 3:1 Match of Members? Donations. Representatives from the Federal Home Loan Bank of Dallas, American First National Bank, Cadence Bank (CADE), Independent Financial and Inwood Bank were joined by local dignitaries as they awarded $80,000 in Partnership Grant Program funds to three Dallas-area community-based organizations.
Enact Holdings, Inc. (ACT), a leading provider of private mortgage insurance through its insurance subsidiaries, announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured $248 million of fully collateralized excess of loss reinsurance coverage through the issuance of an insurance-linked note transaction with Triangle Re 2023-1 Ltd.. This ILN transaction provides cove...
Firm hires portfolio manager with 30 years in mortgage-backed securities and structured credit. KANSAS CITY, Mo., Nov. 15, 2023 /PRNewswire/ --?American Century Investments, a $200 billion* global asset manager, named Paul Norris its new lead for the?Securitized Markets team.
Federal National Mortgage Association (FNMA) : * FANNIE MAE PRICED $503 MILLION MULTIFAMILY DUS REMIC UNDER ITS GEMS PROGRAM Source text for Eikon: Further company coverage:
WASHINGTON, Nov. 14, 2023 ?Fannie Mae? priced a $503 million Multifamily?DUS? REMIC under its Fannie Mae Guaranteed Multifamily Structures program on November 6, 2023. FNA 2023-M8 marks the third Fannie Mae GeMS issuance of 2023. "We announced and priced our third deal of 2023, the M8, on Monday of last week.
President David C. Benson and Chief Administrative Officer Jeffery Hayward Announce Retirements WASHINGTON, Nov. 14, 2023 /PRNewswire/ -- Fannie Mae today announced a series of leadership changes following decisions by two veteran executives that they will soon retire from the company.
Freddie Mac Multifamily?s loan purchase cap for 2024 will be $70 billion. ?We know the multifamily market faces significant headwinds, which makes Freddie Mac?s countercyclical role critically important to lenders and borrowers,? said Kevin Palmer, head of Multifamily for Freddie Mac. FHFA defines its mission-driven requirements in Appendix A of its Scorecard.
KBRA assigns preliminary ratings to 62 classes from Connecticut Avenue Securities, Series 2023-R08, a credit risk sharing transaction with a total note offering of $573,483,000. The Reference Pool consists of 60,345 residential mortgage loans with an outstanding principal balance of approximately $18.9 billion as of the cut-off date.
Jetty Credit will continue to offer rent reporting services to select owner-operators through the end of 2024 through Fannie Mae's Multifamily Positive Rent Payment Pilot NEW YORK, Nov. 14, 2023 /PRNewswire/ -- Jetty, the financial services company on a mission to make renting a home more affordable and flexible, today announced the extension of its work with Fannie Mae to give renters more opp...
The Fannie Mae pilot utilizes rent reporting to establish or build credit scores and increase financial equity for U.S. renters LEHI, Utah, Nov. 14, 2023 /PRNewswire/ --?Entrata, a leading multifamily industry operating system, today announced that recently acquired Rent Dynamics will continue as one of three vendors to work with Fannie Mae for its Positive Rent Payment pilot, which first laun...
Esusu, the leading financial technology company revolutionizing rent reporting and data solutions for credit building, announced new milestones from the company?s collaboration with Fannie Mae today. In September 2022, Fannie Mae introduced the Positive Rent Payment pilot to enable renters to build and establish their credit scores through on-time rent reporting.
KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K161 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-161. The underlying transaction is collateralized by 51 fixed-rate multifamily mortgage loans.
Freddie Mac today announced the tender results of its previously announced offer to purchase any and all of the STACR? Notes listed in the table below. The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated November 3, 2023 and related Notice of Guaranteed Delivery dated November 3, 2023.
Teresa Bryce Bazemore, president and CEO of Federal Home Loan Bank of San Francisco, accepted the ?2023 Financial Woman of the Year? award from Financial Women of San Francisco on Tuesday, Nov. 7. Announced in April this year, the honor was formally bestowed at a luncheon at the Hyatt Regency Embarcadero, and the event provided an opportunity for Bazemore to share her professional journey and l...
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 7.5 percent. ?As Treasury yields decline, the 30-year fixed-rate mortgage dropped a quarter of a percent, the largest one-week decrease since last November,? said Sam Khater, Freddie Mac?s Chief Economist.
Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System, today released the following statement in response to the publication of the Federal Housing Finance Agency?s much anticipated report on the FHLBank System.
The U.S. regulator charged with overseeing the Federal Home Loan Banks said in a report on Tuesday the system is overdue for an overhaul in its mission and structure. The Federal Housing Finance Agency emphasized in the report that there needs to be a clearer distinction between the purpose of the FHL banks and the Federal Reserve, which is the primary emergency lender for banks.
The U.S. regulator charged with overseeing the Federal Home Loan Bank system said in a report on Tuesday the system is overdue for an update in terms of its structure and operation.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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