Freddie Mac has priced a new 2.50% $3.5 billion five-year Reference Notes security due Jan. 7, 2014 at 99.437 to yield 2.621% or 95 basis points more than five-year U.S. Treasury notes. It also priced a new 1.50% $3 billion two-year Reference Notes security at 99.873 to yield 1.565% or 77 basis points more than two-year U.S. Treasury Notes. A syndicate of dealers headed by Barclays Capital Inc., Citigroup Global Markets Inc., and Goldman Sachs Group separately offered both securities. The Committee on Uniform Securities Identification Procedures identifier for the five-year security is 3137EABX6 and the CUSIP for the two-year security is 3137EABW8.
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The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.
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The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.
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Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.
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The ex-CEO got a regulatory OK to officially rally shareholders for his plan, although he's still awaiting a federal judge's decision on a restraining order.
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The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.
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Academy Mortgage's deal will cover around 285,000 class members. It's the sixth deal this year by a mortgage firm seeking to squash consumer complaints.
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