Kearny Financial Corp., Fairfield, N.J., has sold a portfolio of government agency notes and Freddie Mac common stock in a rebalancing of the bank holding company's securities portfolio.Kearny said it sold 131,088 shares of Freddie Mac stock, resulting in a pretax gain of $8.8 million. The company had sold 120,000 Freddie Mac shares at a gain of $7.6 million in 2005 due to concern about the future of government-sponsored enterprises. Kearny, which has also sold all its U.S. government agency notes, has now sold all its Freddie Mac stock. Kearny said that shifting assets to cash will allow it to earn a higher return based on short-term rates while decisions are made about how to reinvest the funds.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
October 2 -
Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
October 2 -
Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
October 2 -
The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
October 2 -
Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
October 2 -
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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