Fannie Mae has priced $3 billion of 4.375%, 10-year Benchmark Notes due Oct. 15, 2015.The issue (CUSIP 31359MZC0) was priced at 99.295 to yield 4.463%, or 34.5 basis points more than the 4.250% U.S. Treasury notes due Aug. 15, 2015. Merrill Lynch & Co., Morgan Stanley & Co., and UBS Investment Bank are the joint lead managers for the Luxembourg-listed transaction. Fannie Mae can be found online at http://www.fanniemae.com.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10