Fannie Mae has reported the auction results for a $1 billion reopening of a 5.375% 10-year Benchmark Notes security due June 12, 2017.The stop yield was 5.531% for the issue (CUSIP: 31398ADM18), which was priced at 98.815. The bid/cover ratio was 3.5. The settlement date is July 13.
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
