Mortgages

Company CEO Michael Nierenberg previously commented the real estate investment trust's parts could be worth more than the whole.

Weaker consumer spending data coming into the holiday season, as well as a resurgence of the COVID-19 spread, pushed mortgage rates to a new low, Freddie Mac said.

A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and high debt-to-income ratios.

Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.

Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.3% next year, up from nearly 3% this year.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

There have been several extensions of the policy since it was put into place as a way to sustain originations amid a wave of forbearance allocated to borrowers with government-related loans.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

Mortgage rates moved off of their all-time low this week as a result of reports that Pfizer's coronavirus vaccine was potentially 90% effective, according to Freddie Mac.

The overall mortgage delinquency rate improved in the third quarter as the economy got healthier while late-stage delinquencies hit a decade high, according to the Mortgage Bankers Association.

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

While moratoria keep foreclosures low compared to last year's rates, October activity jumped 20% from September, according to Attom Data Solutions.

Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices.

The deal is among the largest Freddie Mac has on its fourth-quarter K-Deal platform issuance calendar.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

Growing equity levels increased the share of equity-rich and pulled borrowers out from underwater in the third quarter, according to Attom Data Solutions.