Freddie Mac has priced Reference REMIC R008, class FK, a $1.75 billion issue of real estate mortgage investment conduit securities.The issue (CUSIP: 31396U3A6) was priced at par, the government-sponsored enterprise said. Class FK is a "guaranteed maturity class" designed to reduce extension risk for investors, a special feature of Reference REMICs. The offered class is a sequential-pay floating-rate class with a class coupon of 40 basis points over the London interbank offered rate (initially 5.74%) and a maximum rate of 7.0%. The final maturity date is July 15, 2023. Deutsche Bank Securities Inc., Goldman Sachs Group, and Lehman Brothers were the lead underwriters of the transaction. Freddie Mac can be found online at http://www.freddiemac.com.
-
Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
50m ago -
Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6 -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6