Finance

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The best mortgage bonds to buy now may be the ones the Federal Reserve is purchasing, because the securities might benefit the most if macro optimism fades.

The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.

The growing popularity of the company’s websites and apps has earned the company record profits during the fourth quarter, with adjusted earnings before interest, taxes, depreciation and amortization of $170 million, according to a statement on Wednesday.

The agreement would generate $250 million in proceeds, which the nonbank mortgage company plans to use to pay down and refinance existing debt, while also investing in its servicing and origination businesses.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

Also, private money is expected to return to the mortgage securitization market, according to lenders who responded to an Altisource survey.

“It’s time for us to stop treating the purchase mortgage as some kind of market impediment or red flag for our forecasts,” says Chairman of JJAM Financial and former Ginnie Mae President Joseph Murin

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.

Even as the company posted record numbers, it could have originated more loans if it had not stopped buying FHA and jumbo mortgages from brokers.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

Now approved by Fannie Mae, the digital servicer aims to shake up the status quo by reducing costs caused by a “monopoly in the market.”

January’s excess return came in at a level well above the trailing average for the month, thanks in large part to a helpful hand from the Federal Reserve.

The fintech world is expanding at a sometimes breathtaking pace. Much of that growth is driven by venture capital, but how do VCs decide which companies to invest it in--or not? Join Greycroft partner Will Szczerbiak in a discussion with Olugbenga Agboola, the founder and CEO of Flutterwave, the San Francisco-based startup building the largest payments infrastructure in Africa. Guest host James Ledbetter, editor and publisher of the fintech newsletter FIN, will explore these questions: What are VCs looking for in a fintech startup? What are the hottest fintech sectors in 2021? How has the rise in fintech valuations affected the market? Where will growth be strongest in the next few years?

Pretax operating margins came in much narrower than what is projected for the three stand-alone underwriters.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.

Thirty-one of 39 shopping malls linked to a key commercial real estate credit derivatives index are currently impaired.

Federal Reserve officials left their benchmark interest rate unchanged near zero as they flagged a moderating U.S. recovery and reiterated a pledge to use all available tools to support the economy during the coronavirus pandemic.