Fannie Mae acquired a record $145.6 billion in mortgages during September, a reflection of the strong refinancing and home purchase market of the past summer.However, its retained purchase volume -- a barometer of future activity -- fell to $27.9 billion during the month, the second-lowest reading over the past 12 months. Compared with those of the same month a year ago, Fannie's loan acquisitions rose by 86%. The mortgage giant also reached another milestone during the month: its on-balance-sheet holdings of mortgages cracked the $900 billion mark. Fannie Mae can be found online at http://www.fanniemae.com.
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The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.
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The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.
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Positive changes in credit provisions contributed to a multiyear high in net income as the GSE and its rival fought to purchase lenders' single-family loans.
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Properties outside flood zones carry outsized risk without insurance but client education and proactive solicitation before a storm can decrease serious delinquencies.
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Earlier in the day, the company confirmed it made staffing reductions as it aligns its cost structure with its technology investments to help operations.
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Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.
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