The Federal Home Loan Banks have priced a $1.5 billion 30-year global bond due July 15, 2036.The 5.50% issue (CUSIP: 3133XGAY0) was priced at 98.656 to yield 5.593%, or 47 basis points higher than comparable U.S. Treasury bonds. The settlement date is July 17. Banc of America, HSBC, and UBS are the joint lead managers for the transaction.
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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