Capital markets

Ginnie Mae officials are concerned about unusual activity with Department of Veterans Affairs cash-out refinances and are investigating the causes, as well as whether predatory lenders are taking advantage of veterans.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Fannie Mae and Freddie Mac transferred a substantial amount of credit risk to the private sector through both single-family and multifamily market transactions in the first half of the year, with activity expected to rise in 2019, according to the Federal Housing Finance Agency.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete.

Commercial and multifamily mortgage debt outstanding grew $44.3 billion during the first three months of 2018, the largest first-quarter gain since before the Great Recession, according to the Mortgage Bankers Association.

The holdings demonstrate “resiliency over several credit cycles, with low realized principal losses and robust returns for CLO equity,” managers say.

JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.

Test your knowledge of the secondary mortgage market with this quiz of key industry abbreviations.

Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period.

If Freddie Mac's credit-risk transfer activities continue to grow, mortgage lenders could eventually see a reduction in the guarantee fees they pay to the government-sponsored enterprise, according to CEO Donald Layton.

The future secondary mortgage market entities will receive high investment grade ratings, even as there is no clarity on their scope or form, Fitch Ratings said.

As inflation fears put upward pressure on 10-year Treasury bonds and mortgage rates nationally, borrowers could start to take more notice of what lenders are charging them locally.

Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

The deal is similar to several sponsored by Jefferies that used the same moniker, Station Place, but were backed by revolving pools of mortgages originated by multiple lenders.

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.

Strong legal and structural protections earned the debt top grades from Kroll and Fitch. S&P wasn't as bullish.