Fannie Mae has priced $5 billion of two-year Benchmark Notes with a 2.5% coupon at 99.929.The joint lead managers for the issue (CUSIP 31359MVA8) were Credit Suisse First Boston Corp., Lehman Brothers Inc. and Morgan Stanley & Co. There were 10 co-managers and a designated selling group comprised of 12 additional dealers. The issue is due June 15, 2006 and yields 2.535% at a spread of 34.5 basis points over the 1.5% U.S. Treasury due March 31, 2006. Settlement is scheduled for April 23, and coupon payments will be made each June 15 and Dec. 15, beginning in June of 2004. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
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.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18