Fannie Mae has priced $3 billion of 4.625% three-year Benchmark Notes at 99.722.The issue (CUSIP 31359M2S1), due Dec. 15, 2009, yields 4.726% at a spread of 19.5 basis points over the 4.625% Treasury due Nov. 15, 2009. The settlement date is Dec. 19. The joint lead managers are Banc of America Securities LLC; Bear, Stearns & Co.; and Morgan Stanley & Co. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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.
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.
