The Federal Agricultural Mortgage Corp., a government-sponsored enterprise commonly known as Farmer Mac, has announced the formation of a global debt program to help fund its growth.Farmer Mac said it may list global notes issued under the program on the New York Stock Exchange or a foreign exchange. The GSE, which was chartered to provide a secondary market for agricultural real estate and rural housing mortgage loans, can be found on the Web at http://www.chartermac.com.
The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
