Finance

The Structured Finance IndustryGroup has hired Falcon Capital Advisors as well as a consultancy run by Kristi Leo to help it attract new members and pursue its legislative agenda.

The unadjusted Refinance Index was up 5% while the seasonally adjusted Purchase index also increased 5%.

Fannie Mae is promoting Kimberly Johnson to be the mortgage giant’s deputy chief risk officer—replacing Mark Shaw who is retiring.

There were 12 of 17 Mortgage Industry Equity Composite stocks whose closing price declined more than one percentage point on Tuesday.

The massive waves of 2005-2007 residential mortgage-backed securities downgrades have finally calmed down a bit, thanks largely to housing improvement.

CU/America Financial Services has signed with Scottsdale, Ariz.-based CU Realty Services to offer the company’s real estate program to credit unions throughout Illinois.

Standard and Poor’s is warning that new conduit commercial mortgage-backed securities deals, particularly those issued in the second quarter, are riskier compared with other recent vintage transactions.

The fees Fannie and Freddie charge to cover credit risk on mortgages have been surging. Large segments of the market may soon be fair game for securitization without federal backing.

Despite home price increases taking place in many real estate markets this year, potential sellers are still reluctant to list their properties for sale, therefore creating tight inventories for prospective buyers.

The American Bankers Association and Independent Community Bankers of America are urging the GSE regulator to block Freddie Mac from imposing a $7,500 annual fee on community banks that are low volume seller/services.

Kelly Marsh seeks to educate Realtors, sellers and buyers of the advantages these loans have, especially for her home market.

Lenders issued and sold $41 billion in Ginnie MBS to investors in May, up from $40 billion in April.

McGraw Hill Financial Inc. and its Standard & Poor’s unit won a bid to move to federal court in New York lawsuits filed by 14 states and the District of Columbia accusing the companies of inflating mortgage-backed securities ratings.

The asking prices on homes for sale have risen 9.5% on a year-over-year basis for May, according to the Trulia Price Monitor.

Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates approached a 14-month high as May employment data failed to allay concern that the Federal Reserve will pare back its unprecedented stimulus.

Although Fitch has been worried about loosening underwriting standards in the commercial mortgage-backed securities market, it finds that so far delinquencies for CMBS 2.0 “remain virtually nonexistent.”

The Chicago office towers One & Two Prudential Plaza have received a hope note modification made possible by a $75 million new equity investment.

Thirty-year conventional mortgage-backed securities prepayment speeds came in 3% faster in the latest month, including a surprising 6% increase in certain Fannie Mae Home Affordable Refinance Program coupons and vintages.

Interactive Mortgage Advisors is exclusively brokering on behalf of an unnamed bank another bulk residential mortgage servicing rights offering in conjunction with which the seller would like to establish a flow relationship.

Details of a bipartisan plan to reform Fannie Mae and Freddie Mac are beginning to emerge.