Mortgage bankers issued $28 billion of Ginnie Mae MBS in February, down 7% from the prior month, according to new figures released Thursday.The new report shows that Ginnie-approved issuers securitized $26 billion in single-family loans, and $1.3 billion in multifamily loans in February. In addition, they securitized $718 million of FHA-insured reverse mortgages, up from $654 million in January.
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Freddie Mac on Thursday named Donald Layton, who previously held executive positions at E*Trade and Chase, its CEO.
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Middle market CLOs have remained relatively scarce since the financial crisis, as it’s still difficult for deal sponsors to get financing to warehouse loans to small and medium-sized companies.
May 10 -
JPMorgan Chase & Co.'s second quarter earnings results may be "substantially different" than it initially announced because of what appears to have been a serious risk management failing in the bank's Chief Investment Office, JPMorgan announced late Thursday afternoon.
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WSFS Financial Corp., the parent company of WSFS Bank, announced the firm's implementation of selected asset strategies. This includes sellling MBS as part of its portfolio management.
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The National Reverse Mortgage Lenders Association (NRMLA) has asked a federal regulator to craft a ‘qualified mortgage’ (QM) rule specifically for private reverse mortgages.
May 10
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Solar securitizations have long been eyed as a financing alternative that can lower the weighted average cost of solar energy products for customers. It will also reduce exposure to developers.
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Newcastle Investment Corp., a mortgage investing REIT managed by Fortress Investment Group, is “very optimistic” it will participate in a big investment in mortgage servicing rights with other entities that its manager oversees, chairman Wesley Edens said.
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Mayer Brown has hired Barbara Goodstein as a partner in the banking and finance practice in New York. She was formerly a partner with Dewey & LeBoeuf.
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The Federal Reserve Bank of New York has sold the entirety of the TRIAXX CDO holdings from its Maiden Lane III portfolio to Merrill Lynch, Pierce, Fenner & Smith after a competitive bid process.
May 10 -
Freddie Mac reported new lows on 30- and 15-year fixed mortgage rates for the week ending May 10. The 30-year fixed slipped one basis point to 3.83% while 15s were two basis points lower to 3.05%.
May 10 -
Zipcar has renewed its ABS program with Credit Agricole. The program was first announced in May 2010 and extended in May 2011.
May 10 -
Federal Deposit Insurance Corp. (FDIC) Acting Chairman Martin Gruenberg will be delivering the keynote address at the American Securitization Forum's (ASF) annual meeting.
May 10