Finance

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

Shrinking gain-on-sale margins also ate into earnings, with growth expected to slow for the rest of 2021.

A jump in jumbo loan programs was countered by lenders dropping high loan-to-value conforming products.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Total investment property lending this year should be 31% above 2020's pandemic-affected activity.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

The company's expanded portfolio through its acquisition spree drove revenue, representatives said.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

The gain on sale in the retail channel dropped by more than half annually, as the wholesale and joint venture channel endured an even tighter squeeze due to competitive pressures

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

The bank saw a modest increase in net income from the first quarter, as lawsuit settlements tied to the company’s discontinued home lending business and fees regarding an anti-money laundering and securities class action suit continue to limit growth.

The REIT also reveals plans to expand in the single-family rental market with a new brand and target of $5 billion in acquisitions over five years.

The company’s results included some transitory revenue sources, including early buyouts of loans in forbearance from securitized pools, but executives plan to maintain growth over time through economies of scale.

New customer growth and increased adoption of a digital workflow by mortgage lenders resulted in better than expected results for the Intercontinental Exchange unit.

The government-sponsored enterprise's single-family credit reserve release caused earnings to spike.

Federal Reserve officials are moving closer to when they can start reducing massive support for the U.S. economy.