Fannie Mae has announced a dividend rate adjustment for its series O variable-rate noncumulative preferred stock.The new rate, 7.000%, will be in effect from Sept. 30 to Dec. 31. The dividend will continue to accrue at an annual rate of 7.000% until it is determined that the sum of the 10-year Constant Maturity Treasury rate plus 2.375% is greater than 7.000% on the applicable quarterly determination date, the government-sponsored enterprise said. (The 10-year CMT rate is the one-week average yield on 10-year U.S. Treasury securities at "constant maturity," as estimated from the Treasury Department's weekly yield curve.) Fannie Mae also announced an initial dividend rate of 5.9481% for its series P variable-rate noncumulative preferred stock (CUSIP: 313586786), which will be in effect from Sept. 28 to Dec. 31. Fannie Mae can be found online at http://www.fanniemae.com.
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Rocket Cos. reported an increase in gain-on-sale margin but warned that going forward it is likely to slip back to levels seen in the second half of last year.
6h ago -
The 2022 vintage had a higher percentage of purchase mortgages, as well as 30-year fixed-rate loans versus the 2021 production, an annual Federal Housing Finance Agency report said.
10h ago -
Almost half of parents said their grown children returned to live with them after graduation, placing greater challenges on their own long-term housing and retirement goals, according to a recent survey.
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In total, 84 producers from mortgage lenders including Summit Funding and Movement Mortgage have transitioned to Fairway Independent Mortgage.
11h ago -
But the mortgage unit of Intercontinental Exchange narrowed its quarterly losses and touted the addition of several new customers this year in its earnings call.
May 2 -
Mortgage rates reached their highest point since the end of November, seemingly not severely impacting Spring home purchase activity, Freddie Mac said.
May 2