Freddie Mac has priced $2.0 billion of a new 2.875% syndicated callable security due on Nov. 3, 2006.The issue, CUSIP number 3128X15Y9, was priced at 99.974 to yield 2.884%, or 74.5 basis points more than three-year U.S. Treasury notes. The issue, which is scheduled to settle Nov. 3, is callable at par on Nov. 3, 2004. Credit Suisse First Boston, Deutsche Bank Securities Inc., and First Tennessee Capital Markets are the joint lead managers for the transaction. Freddie Mac can be found on the Web at http://www.freddiemac.com.
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Originators misled VA refinance applicants into believing they could skip two months of mortgage payments, the Federal Deposit Insurance Corporation said.
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The announcement, made at the Mortgage Bankers Association's Secondary Markets Conference, underscores Ginnie Mae's role at the forefront of digitization efforts in the capital markets space.
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Horton, who stepped back from an executive role at his company D.R. Horton in October, died suddenly on Thursday.
May 17 -
A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.
May 17 -
The April and May announcements from the U.S. government, down payment assistance firms and lenders on easing the homeownership affordability crunch.
May 17 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said Friday that the agency will be moving forward with rules and enforcement actions after the defeat of a Supreme Court challenge to the agency's constitutionality.
May 17