NMI Holdings, Inc. (NMIH), the parent company of?National Mortgage Insurance Corporation?, today provided guidance on its capital position under the revised Private Mortgage Insurer Eligibility Requirements released by?Fannie Mae?and?Freddie Mac?, and the?Federal Housing Finance Administration? on?August 21, 2024.
Enact Holdings, Inc. (ACT), a leading provider of private mortgage insurance through its insurance subsidiaries, today addressed the updated Private Mortgage Insurer Eligibility Requirements released by Fannie Mae and Freddie Mac, and the Federal Housing Finance Administration on August 21, 2024 which will be phased-in between March 31, 2025 and September 30, 2026.
Essent Group Ltd. (ESNT) reported today that Fannie Mae and Freddie Mac, under the oversight of the Federal Housing Finance Authority, issued updates to the Private Mortgage Insurer Eligibility Requirements calculation of Available Assets and planned sunset of the use of the 0.3x Required Asset multiplier for loans in a COVID forbearance plan.
Despite Recent Decline in Mortgage Rates, Existing Home Sales Likely to Remain Weak WASHINGTON, Aug. 21, 2024 Despite the recent pullback in mortgage rates, total home sales are expected to come in lower than previously forecast through the rest of 2024, and then not pick up meaningfully until further out in 2025, according to the?August 2024 commentary from the Fannie Mae?Economic and Strategi...
The Federal Home Loan Bank of Pittsburgh today announced the election of Thomas A. Hendry, Senior Vice President and Treasurer of New York Life Insurance and Annuity Corporation. and Nathaniel S. Bonnell, Chairman, President and CEO of Citizens Bank of West Virginia to the FHLBank Board of Directors.
LIHTC Lending Incentivizes Affordable Housing Support for Low-Income Individuals and Families in Illinois and Wisconsin The Federal Home Loan Bank of Chicago is announcing the Low-Income Housing Tax Credit Collateral Pilot Program, which provides members with increased lendable value on their pledged collateral for up to $300 million of qualifying mortgage loans on LIHTC multi-family housing pr...
Company Set to Elevate the Bar for Operational and Compliance Excellence DALLAS, Aug. 20, 2024 BBG Real Estate Services, a leading independent commercial real estate services firm and pioneer of bundled service offerings, is proud to announce the addition of Peter Christensen, J.D., as General Counsel & Chief Compliance Officer and Marty Skolnik, MAI, as GSE Compliance Officer.
Trimont, the leading global commercial real estate loan services provider, has entered into a definitive agreement to purchase Wells Fargo?s non-agency third-party Commercial Mortgage Servicing business, the largest servicer of CRE securitized debt in the U.S. The transaction, backed by V?rde Partners, positions Trimont as the largest loan servicer, managing a combined $640 billion of loans in ...
Funds Will Assist in Development of Affordable Housing in New Orleans, Baton Rouge and River Ridge, Louisiana. The Federal Home Loan Bank of Dallas is pleased to announce that more than $2.8 million was awarded via four Affordable Housing Program grants in U.S. Representative Troy Carter?s district to increase the supply of affordable housing stock for individuals and families in need.
Image: CS 2024 Winners The Federal Home Loan Bank of Indianapolis has awarded the 2024 Community Spirit Award to Vice President James Parker of Central Savings Bank in Sault Ste.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.49 percent. ?While rates increased slightly this week, they remain more than half a percent lower than the same time last year,? said Sam Khater, Freddie Mac?s Chief Economist.
Funds Will Support High-Quality Affordable Housing Development The Federal Home Loan Bank of Dallas is pleased to announce that an Affordable Housing Program grant has been awarded in U.S. Representative Mike Ezell?s district. This press release features multimedia.
WASHINGTON, Aug. 13, 2024 Fannie Mae?today began marketing its most recent sale of reperforming loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 3,119 loans, having an unpaid principal balance of approximately $611.2 million, and is available for purchase by qualified bidders.
Greystone, a leading national commercial real estate finance company, has provided an $18,620,000 Fannie Mae Delegated Underwriting & Servicing loan for the acquisition of a 204-unit multifamily property in Fort Worth, Texas. Constructed in 2003, The Residences of Diamond Hill in Tarrant County is a 40-building garden-style apartment community featuring two-, three- and four-bedroom apartments.
NEW YORK, Aug. 12, 2024 Lument announced today it has entered into an exclusive correspondent relationship with Arcus Harbor Real Estate Capital under which Arcus Harbor will refer all Fannie Mae, Freddie Mac, and FHA loans it originates to Lument for underwriting, processing, and closing.
NEW YORK, Aug. 12, 2024 ?TidalWave, a leading innovator in the financial technology sector, is proud to announce that its purposely built AI copilot engine SOLO??is now integrated with Loan Product Advisor?, Freddie Mac's automated underwriting system.
Program Seeks to Build Pipeline of Diverse Housing Developers Across Illinois and Wisconsin The Federal Home Loan Bank of Chicago today opened its application for the 2024 Community First? Diverse Developer Initiative.
The Station Celebrates Grand Opening in Little Rock, Arkansas. The Federal Home Loan Bank of Dallas awarded Immerse Arkansas a $225,000 Affordable Housing Program grant through FHLB Dallas member Arvest Bank to build a homeless shelter for young adults in Little Rock, Arkansas. This press release features multimedia.
The average rate on the popular U.S. 30-year mortgage plunged to its lowest level since May 2023 this week, following days of market turbulence resulting from last week's softer-than-expected employment report. The 30-year fixed-rate mortgage averaged 6.47% during the week ending Aug. 8, down from 6.73% in the prior week, mortgage finance agency Freddie Mac said on Thursday.
AM Best has released newly updated tables of net capital charges associated with a representative sample of transactions from Fannie Mae and Freddie Mac?s credit risk transfer programs?Freddie Mac?s Agency Credit Insurance Structure and Fannie Mae?s Credit Insurance Risk Transfer.
The United Food and Commercial Workers International Union is urging regulators to reform the Federal Home Loan Bank System to address the housing crisis retail workers face. According to UFCW?s comment letter, Apollo Global Management is an example of how FHLBanks have strayed far from their housing mission.
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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