Morgan Stanley said Wednesday that it launched a $1 billion social bond to support affordable housing initiatives in the U.S., marking the latest initiative by a financial firm to further environmental, social and governance commitments.
Freddie Mac priced its first single-family credit risk transfer offering tied to an alternative for the London Interbank Offered Rate, showing progress as the global securities market transitions from the benchmark.
A panel of top U.S. finance officials endorsed a proposal Friday that would force more stringent capital requirements on Fannie Mae and Freddie Mac as the massive real estate lending entities flounder in conservatorship.
Freddie Mac’s multifamily unit said on Wednesday that it completed its first-ever deal for structured social bonds meant to promote housing affordability.
PIMCO, the eighth-largest U.S. asset manager, said a “flood” of investors could rush to unload mortgage-backed securities if Fannie Mae and Freddie Mac are released from conservatorship without addressing potential credit risks.
Freddie Mac and Fannie Mae will keep foreclosures for single-family homes on hold through the end of 2020, extending a moratorium that was initially set to expire at the end of this month.
Fannie Mae and Freddie Mac will delay imposing a controversial new fee on most mortgage refinance loans meant to cushion an estimated $6 billion in pandemic-related losses, the U.S. Federal Housing Finance Agency said Tuesday.
U.S. mortgage financing entity Freddie Mac closed its third reinsurance transaction on Thursday for its Multifamily Credit Insurance Pool, valued at $2.6 billion, following two earlier transactions after the program was launched last year.
U.S. homeowners refinanced $513 billion in mortgages during the second quarter of 2020, more than double the amount of mortgage refinances during the same period last year, according to a real estate data firm.
Fannie Mae and Freddie Mac will begin charging a new fee for most mortgage refinance loans as they gird for volatility in the mortgage market, a move that will raise costs for the wave of borrowers looking to take advantage of historically low rates.
The share of U.S. mortgages that are 90 days or more past due recently saw its first year-over-year increase since the aftermath of the Great Recession, according to data supplied by CoreLogic on Tuesday.
U.S. commercial and multifamily mortgage originations dropped off about 48% year over year in the second quarter, largely in line with a bleak 2020 forecast, but may rebound next year, the Mortgage Bankers Association said Friday.
U.S. insurer Cuna Mutual said it will roll out a new private mortgage insurance program for credit unions in a deal with MGIC, in a move which could help stir originations and further a recovery in the housing market.
Mortgage rates hit a new record low for the eighth time this year, Freddie Mac said on Thursday, continuing a trend that has played out as the housing market has recovered amid the COVID-19 economic downturn.
Fannie Mae and Freddie Mac will face more stringent liquidity requirements by Sept. 1, in a controversial move designed to insulate the government-sponsored enterprises from market volatility that will likely reduce their net interest income.
Intercontinental Exchange CEO Jeffrey Sprecher said Thursday he’s looking to build the “clearinghouse" for mortgages, as the company expands its mortgage-servicing business, now its fastest-growing unit thanks to a recent boom in refinancing activity and the pandemic-driven demand for digitization.
Fannie Mae and Freddie Mac offered more relief to mortgage borrowers struggling to make payments due to the coronavirus by requiring lenders not to charge interest on amounts that are deferred because of the pandemic.
Nonbank financial intermediaries pose a threat to the financial system, especially in a crisis, because of their interconnectedness and lack of regulation, U.S. Federal Reserve Board of Governors member Randal Quarles warned.
Wells Fargo bought back $14 billion in delinquent home loans from Ginnie Mae, in a move that allowed it to cut off interest and principal payments to investors as the bank reels from the current economic downturn.
The U.S. Supreme Court said Thursday it will weigh the legality of government stewardship of Fannie Mae and Freddie Mac, which transferred shareholders’ dividends to the Department of Treasury following the 2008 financial crisis in return for billions of dollars of federal investment.