Freddie Mac has priced $2 billion of a new five-year, 4.125% syndicated callable security due Sept. 1, 2009.The issue, CUSIP number 3128X3VA8, was priced at 99.715 to yield 4.189%, or 74.1 basis points more than five-year U.S. Treasury notes. The issue, which is scheduled to settle Sept. 1, is callable at par on Sept. 1, 2005. Bear, Stearns & Co., Goldman Sachs Group, and Morgan Stanley are the joint lead managers for the transaction.
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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.
18m ago -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
3h ago -
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.
5h ago -
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.
7h ago -
Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
May 6 -
At the same time, market share among a trio of the mortgage insurers shifted, data compiled by Keefe, Bruyette & Woods found.
May 6