Fannie Mae has announced the introduction of Benchmark REMICs, a multiclass real estate mortgage investment conduit security with enhanced structural, price transparency, and liquidity features for fixed-income investors.The company said it expects to issue the first Benchmark REMIC in this quarter and up to two deals per quarter thereafter. Fannie said the securities will have four characteristics designed to improve liquidity and price transparency: syndicated dealer distribution; a large Guaranteed Maturity Class, with a stated final maturity; a minimum new-issue size of $1 billion for each GMC; and live price quotes on TradeWeb for the GMCs. The securities will generally be collateralized by pools of Fannie Mae fixed-rate, first-lien, single-family mortgages. Peter Niculescu, executive vice president for capital markets, said the move "should help us better serve our affordable housing mission by attracting more capital to the U.S. housing market through broadened distribution of Benchmark REMICs to a potentially more diverse mortgage investor base globally." Freddie Mac introduced a similar program, Reference REMICs, last year.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
9h ago -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
10h ago -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
10h ago -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
10h ago -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3