Secondary

All six dealers included in the competitive auction process managed to win a portion, although the bulk was awarded to two shops, Barclays and Credit Suisse.

Standard & Poor’s expects $5 billion of mortgage servicer advance securitizations this year, down from 2013’s $6.5 billion.

Centerline Capital Group named a new regional director for the Western region, who will primarily be responsible for originating Fannie Mae Small Loan transactions in California and Arizona.

Craig Schrank, a producing manager at Willow Bend Mortgage, believes that is what makes the advantage in an otherwise level playing field.

Bank of America reported a gain of more than 2% in its stock price on Wednesday.

The Nigeria Mortgage Refinance Co. will sell bonds on capital markets and provide long-term financing to lenders that will help them extend more home loans.

The $375 million M1 tranche priced at a spread of one-month Libor plus 160 basis points, 40 basis points tighter than the 200 basis point spread on the same tranche of its first offering.

Observers are warning this is only a temporary break as they expect rates to start rising again.

Radian, Bank of America and MGIC lead the 11 Mortgage Industry Equity Composite stocks which closed higher on Tuesday.

The Dow lost 179 points and 14 of the 17 Mortgage Industry Equity Composite members closed lower on Monday.