Fannie Mae has priced a $500 million reopening of a $2.0 billion issue of three-year Callable Benchmark Notes due May 17, 2007.The reopening (CUSIP: 31359MVC4) was priced at 99.785, with an interest rate of 3.750%. The issue is noncallable for the first year, with a one-time call date of May 17, 2005. Citigroup Global Markets Inc. and UBS Investment Bank are the joint lead managers. Fannie Mae can be found online at http://www.fanniemae.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
4h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
8h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
11h ago -
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.
April 24 -
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.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24