Fannie Mae has priced $3 billion of 3.875% three-year Benchmark Notes at 99.885.The issue (CUSIP 31359ME41), due July 15, 2008, yields 3.916% at a spread of 23 basis points over the 3.750% Treasury due May 15, 2008. The settlement date is June 24. The joint lead managers are Deutsche Banc Securities Inc., Goldman, Sachs & Co., and UBS Investment Bank. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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Title insurers, whose activity is highly correlated to mortgage production, wrote $15.1 billion in premiums during 2023, down from $21 billion in 2022 and $26.2 billion for the year before that.
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The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
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Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
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A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
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Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
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The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.
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