Finance

Standard & Poor’s, a unit of New York-based McGraw Hill Financial Inc., had argued that its ratings are opinions are protected by the First Amendment of the U.S. Constitution.

The accord still needs approval from trustees overseeing the securities and may be subject to court review.

The San Francisco bank will be joining the MPF Xtra program next year.

The November timing for the deal is good because spreads on new issues have come in over the last 60 days.

Purchasing homes from Zillow has been fueled by huge resets in home prices since market peak, historically low mortgage rates and an improving economy.

Going back to a “mutual” model and selling off risky bonds could help cue underwriters about how to evaluate risk.

The firm is the first large institutional investor to buy a stake in the company. Founding management and original investors still control a majority share.

The audacious proposal would create two entities that issue privately insured mortgage-backed securities.

The majority of industry index companies reaped gains after Federal Reserve chair nominee Janet Yellen promised the Fed would keep a lid on rates so long as economic weakness persists.

The CBO suggests an increase in Fannie Mae and Freddie Mac loan fees as a revenue option.

But non-interest income increased because it took in more guarantee and commitment fees.

A ratings agency says guarantee-fee hikes will only increase profitability.

Banks, along with Fannie Mae and Freddie Mac, are revisiting mortgage lending policies to address fracking concerns. Some banks will no longer finance homes where an oil rig sits, and Freddie Mac says it can force the entire outstanding balance to be paid if an oil lease is signed.

The deal priced 35 basis points tighter than initial guidance, a person familiar with the deal confirmed.

The GSE reduces loss exposure on its first credit-risk sharing deal with private investors.

Residential mortgage-backed securities loans originated outside the pending ability-to-repay/qualified mortgage rule’s protections may face higher loss severity assumptions.

The largest U.S. homebuilder had net income of more than $139 million for its fiscal fourth quarter ended Sept. 30, compared with $100 million a year earlier.

FHLB members are wary of nondepositories gaining access to district bank programs.

There were nine Mortgage Industry Equity Composite equities that closed higher, nine closed lower and one was unchanged.

Conduit lenders also are originating a larger share of multifamily loans because of the GSE cap.