The Community Development Trust, a New York-based real estate investment trust, has reported the completion of its first mortgage loan securitization with Fannie Mae.CDT, which provides capital for affordable housing, said it swapped 32 loans with a balance of $44.5 million for an equal amount of Fannie Mae mortgage-backed securities, which were then sold to JP Morgan Chase. The loans had an average balance of $1.4 million and are secured by properties in eight states, most of them with Low Income Housing Tax Credits, CDT said.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28