Secondary

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The $1 billion mortgage securitization is smaller than several recent deals, and features modified mortgages. But subordination supports senior notes.

Between terms as Federal Housing Commissioner — where he oversaw Radian's government-run competitor — he served on the private mortgage insurer's board.

The transaction, FSMT 2021-4, is one of the trust’s largest deals in the last several years. Half of the mortgages are on properties located in California.

The government-sponsored enterprises have been returning to normal underwriting and are buying more loans than last year, but annual limits they have in place could become a concern.

The alternative minimum tax would challenge at least one influential nonbank and big depositories, according to a new Keefe, Bruyette & Woods report.

For two decades, Alfred Pollard served as the general counsel for Fannie Mae and Freddie Mac’s regulator. He had a front-row seat for the establishment of the Federal Housing Finance Agency, the government’s subsequent seizure of the mortgage giants amid mounting losses in 2008 and the more recent legal dispute over the FHFA’s authority.

Sen. Pat Toomey of Pennsylvania, the Banking Committee's top Republican, is talking up the prospects of a bipartisan deal to overhaul Fannie Mae and Freddie Mac. But Democratic leaders sound less motivated to change the status quo for the government-sponsored enterprises.

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.