The Federal Home Loan Banks have priced a $3 billion, 5.50%, seven-year global bond due Aug. 13, 2014.The issue (CUSIP: 3133XLJP9) was priced at 99.984 to yield 5.504%, or 45.5 basis points higher than that of comparable U.S. Treasury notes. The settlement date is June 22. Barclays, Goldman Sachs, and JP Morgan are the joint lead managers for the transaction.
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Title insurers, whose activity is highly correlated to mortgage production, wrote $15.1 billion in premiums during 2023, down from $21 billion in 2022 and $26.2 billion for the year before that.
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The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
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Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
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A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
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Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
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The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.
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