Freddie Mac has priced $5 billion of 4.5% 10-year Reference Notes due Jan. 15, 2014, and $5 billion of 2.375% three-year Reference Notes due Feb. 15, 2007.The 10-year issue (CUSIP: 3134A4UM4) was priced at 99.849 to yield 4.519%, 49.5 basis points more than 10-year Treasury notes, the government-sponsored enterprise said. The three-year issue (CUSIP: 3134A4UN2) was priced at 99.707 to yield 2.474%, 42 bps more than three-year Treasury notes. Credit Suisse First Boston, Merrill Lynch, and Morgan Stanley led the transaction for the 10-year security, and Lehman Brothers, Merrill Lynch, and UBS Investment Bank led for the three-year issue.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24