The refinancing boom has allowed Fannie Mae to raise its guarantee fee by 10% over the last seven quarters, according to a filing with the Securities and Exchange Commission.The average effective guarantee fee rate on its outstanding mortgage-backed securities rose to 20.5 basis points for the first nine months of 2003, up from 18.6 bps in the first nine months of 2002, Fannie Mae says in its third-quarter financial report. For the third quarter, the average effective guarantee fee rate on $1.23 trillion in outstanding Fannie Mae MBS was 20.0 bps. The secondary-market agency collected $613 million in guarantee fees in the third quarter. Fannie Mae attributed the fee increase to an "unprecedented level of refinancings together with increased risk-based pricing on new business." The company can be found on the Web at http://www.fanniemae.com.
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
9h ago -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
9h ago -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
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Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9