The 12 Federal Home Loan Banks posted $648 million in total earnings for the second quarter, up 136% from the level recorded a year ago, according to a report by the FHLBanks' Office of Finance.The preliminary unaudited results show that the FHLBanks have $1 trillion in combined assets, and advances to member banks and thrifts totaled $638 billion as of June 30. Since year-end 2005, advances have increased by 3%. In the first quarter, the FHLBanks reported $620 billion in earnings. The Office of Finance has not issued an audited combined financial report for the FHLBanks since the second quarter of 2004. However, the OF noted that all 12 FHLBanks have registered their stock with the Securities and Exchange Commission. "It is expected that the increased transparency of SEC registration will ultimately benefit members, investors, and the FHLBank System itself," the Office of Finance said. The agency can be found online at http://www.fhlb-of.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.
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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.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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