Fannie Mae has priced $4 billion of 4.250% five-year Benchmark Notes at 99.486.The issue (CUSIP: 31359MVE0), due May 15, 2009, yields 4.366% at a spread of 46 basis points over the 3.875% Treasury due May 15, 2009. The settlement date is May 21. The joint lead managers are Citigroup Global Markets Inc., J.P. Morgan Securities Inc., and UBS Investment Bank. Fannie Mae can be found on the Web at http://www.fanniemae.com.
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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.
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.
