DLJ Mortgage Capital Inc. was the winning bidder on all four pools in Fannie Mae's
The sale consisted of 7,508 loans with an unpaid principal balance of $1.6 billion. The average loan size was $215,808, with a weighted average note rate of 4.1% and a weighted average broker's price opinion loan-to-value of 103.6%.
The cover bid for the entire transaction was 87% of the unpaid principal balance.
The transaction is expected to close on May 25.
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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.
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
