Fannie Mae has priced a $3 billion issue of two-year, 3.875% Benchmark Notes at 100.000.The issue (CUSIP: 31359MB44), due May 15, 2007, yields 3.875% at a spread of 28.5 basis points over the 3.750% Treasury due March 31, 2007. The settlement date is April 22. The joint lead managers for the issue are Bear, Stearns & Co., HSBC Securities, and Morgan Stanley & Co. Fannie Mae can be found online at http://www.fanniemae.com.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27