Fannie Mae has priced $4 billion of 4.125% 10-year Benchmark Notes at 99.485.The issue (CUSIP 31359MUT8), due April 15, 2014, yields 4.188% at a spread of 45.5 basis points over the 4.000% Treasury due Feb. 15, 2014. The settlement date is March 25. The joint lead managers are Goldman, Sachs & Co.; Lehman Brothers Inc.; and Merrill Lynch & Co. Fannie Mae can be found on the Web at http://www.fanniemae.com.
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
