Fannie Mae has priced a $2 billion issue of five-year, 3.125% Callable Benchmark Notes due March 16, 2009.The issue (CUSIP: 31359MUQ4) was priced at 99.562 with a yield to maturity of 3.221%. It is noncallable for the first two years, with a one-time call date of March 16, 2006. The joint lead managers for the issue are Credit Suisse First Boston Corp., J.P. Morgan Securities Inc., and UBS Investment Bank.
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.
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
