Fannie Mae has priced $4 billion of 5.250% two-year Benchmark Notes and $3 billion of 5.375% 10-year Benchmark Notes.The two-year note (CUSIP 31359MS53) was priced at 99.963 to yield 5.27% at a spread of 26.5 basis points over the 4.875% Treasury due in May 2008. The 10-year note (CUSIP 31359MS61) was priced at 99.974 to yield 5.379% at a spread of 40.5 bps over the 5.125% Treasury due in May 2020. The joint lead managers for the two-year issue are Barclays Capital Inc., HSBC Securities (USA) Inc., and Morgan Stanley & Co. The joint lead managers for the 10-year issue are Lehman Brothers Inc., Merrill Lynch Government Securities, and J.P. Morgan Securities Inc. Fannie Mae can be found online at http://www.fanniemae.com.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24 -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24