Secondary

Federal Reserve officials said they would begin running off their $4.5 trillion balance sheet “relatively soon” and left their benchmark policy rate unchanged as they assess progress toward their inflation goal.

CoreLogic's second-quarter net income increased 2% over the previous year on higher operating income from improvements in productivity.

The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.

Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.

It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.

The Salt Lake City company also benefited from increases in investment securities and several large loan recoveries during the quarter.

The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.

Policymakers should differentiate between housing finance-related issues of real importance to the greater public interest, and those that concern only special interests.

The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.

While Freddie Mac is moving cautiously into buying manufactured housing loans not secured by land, Fannie Mae is moving more aggressively. Industry representatives are divided on which approach is superior.