Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.
The $109.3 million CLEAN 2018-1 is also the first deal to be marketed as a Rule 144A transaction under securities regulation making it available to wide base of institutional investors.
The lack of concrete lobbying victories had become an issue with some members in the group, possibly leading to a splintering of support among members and the board for continuing the executive director's tenure.
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.
CoreVest American Finance’s next offering of rental bonds is backed by homes that are older and smaller than any of its previous transactions, according to Kroll Bond Rating Agency.
New securitizations backed by reverse mortgages are now at a low not seen in two years, signaling that higher volumes seen in recent months may be tapering off.
The 860 loans backing its latest transaction, the $258.4 million Verus Securitization Trust, 2018-INV1, are all "business purpose investor loans,” according to S&P.
Issuance of Ginnie Mae securities backed by reverse mortgages rose above $1 billion for the second time in two years, according to the government agency's latest monthly report.
