FirstPlus Financial Group Inc., Dallas, has completed a $591 million securitization of high loan-to-value home loans.The securities, issued by FirstPlus Home Loan Owner Trust 1998-4, consisted of 11 classes of publicly offered notes. The yield spread for the $174 million of Class A-1 notes was 4 basis points over the one-month London Interbank Offered Rate, and spreads for the other classes ranged from 0.58% to 2.70% over the related U.S. Treasury bonds, the company said.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
