Finance

Banks are hungry for earning assets, but General Electric is poised to offer up its consumer business to the masses.

Fannie Mae is snatching potential profits away from mortgage lenders as it posts record earnings that are fueling industry concern the government-backed company is regaining its swagger even as lawmakers plot its demise.

Fitch said part of the problem with the previous generation of commercial mortgage-backed securities was the use of pro-forma assumptions.

Under the settlement, Ally will pay $1.95 billion in cash to the ResCap bankruptcy estate, plus $150 million in insurance proceeds.

The deal was made possible by a mortgage-backed security pass-through structure that has been growing in popularity among housing finance agencies in the past year.

Freddie Mac is starting to securitize modified single-family loans.

Treasuries fell, pushing 10-year note yields above 2% for the first time since March on Wednesday.

John Stumpf believes the government-sponsored enterprises need to be retained in some form because the guarantee they provide is important to investors.

FeatherStone Investment Group has begun underwriting and structuring its first rental income securitization.

Mortgage lenders are still nervous about put-back risk and unresolved regulatory issues, which is holding back the lending and the housing recovery.

Toll Brothers reported fiscal second-quarter earnings that beat analyst estimates as demand jumped and orders reached the highest level in seven years.

UBS AG was ordered to face a whistleblower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for telling supervisors he was being pressured to publish misleading reports.

Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets.

An 11 basis point rise in rates for the 30-year conforming fixed-rate loan has resulted in a 9.8% decrease in mortgage application volume on a seasonally adjusted basis for the week ended May 17.

Fannie Mae priced its fifth multifamily REMIC of the year on Tuesday totaling $1.02 billion.

With that status, the company can originate for sale to Freddie Mac (and retain the servicing rights on) mortgages securing independent living, assisted living, memory care and rental continuing care properties.

Commercial real estate loan collateralized debt obligation delinquencies remained stable at 13.2% in Fitch Ratings’ latest monthly report.

The Federal Housing Finance Agency should require the government-sponsored enterprises to purchase loans with deeper levels of credit enhancement in exchange for bona fide reductions in guarantee fees and other loan level charges, the Mortgage Bankers Association says.

Financial services provider NewOak Capital has opened NewOak Credit Services LLC in Danbury, Conn.

MountainView Servicing Group is exclusively managing the sale of two servicing portfolios.