In a testimony today before the Committee on Banking, Housing and Urban Affairs, National Association of Realtors' Public Policy Chair Vincent Malta argued that the national GSE conforming loan limit should be permanently raised to 625,500 or higher. Malta also suggested raising the limits an additional increase of 125% of the local median home-sales price in high-cost areas. "Fannie Mae and Freddie Mac provide liquidly and stability in the mortgage market and are vital to the housing sector," he said. Malta urged that such a move would increase home sales by nearly 350,000, lower inventories and increase home prices by 2% to 3%. It would also result in as many as 210,000 fewer foreclosures, and more than 500,000 borrowers would be able to refinance into lower interest rate loans, he said.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
4h ago -
Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
10h ago -
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24