Reversing a two-year trend, 50 state housing finance agencies recorded a 4% increase in aggregate-total assets in fiscal year 2005, rising from $116 billion to $121 billion, according to Fitch Ratings.In an updated report on HFA finances, Fitch said the agencies' total debt increased 3%, from $90 billion in 2004 to $93 billion in 2005. Fitch attributed the increases to higher mortgage rates and "widening spread between the conventional and tax-exempt bond rates, causing an increased demand for the SHFA mortgage product." The rating agency can be found online at http://www.fitchratings.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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