Fannie Mae has priced an offering of $1 billion of noncumulative, perpetual, variable-rate preferred stock.The 40 million shares of series P stock have a stated value of $25 per share, with a dividend rate that will reset quarterly. The rate will be set at 4.50%, or 75 basis points above the three-month London interbank offered rate, whichever is greater. Goldman, Sachs & Co. and Merrill Lynch & Co. served as placement agents for the transaction, Fannie Mae said. Fannie can be found online at http://www.fanniemae.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
7h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18