Secondary

The agreement covers loans sold over a nine-year period running through the end of 2008.

Wells agreed to pay Fannie Mae to resolve repurchase demands on loans originated before 2009 and sold to the government-backed firm.

Home sales will rise, home price appreciation will slow, purchases will dominate, government-related securitizations will drop, and commercial ones will grow, according to these forecasts. (Image: Fotolia.)

PennyMac Mortgage Investment Trust’s board has declared a cash dividend for the fourth quarter of 2013 in a move that marks a change in policy.

The framework allows for a range of assets to be used as collateral for covered bonds, including residential mortgages, municipal bonds and mortgage bonds.

The Federal Housing Administration is handcuffed but Fannie Mae and Freddie Mac’s new regulator is expected to favor broader mortgage financing terms for borrowers.

On an otherwise slow Friday, 11 of the 17 Mortgage Industry Equity Composite closed lower than on Thursday.

The benchmark yield rose above 3% for the first time in three months before fluctuating as investors weighed the Fed’s decision last week to start cutting bond-buying in January.

Purchase mortgage volumes will come in lower than some expect next year, securities strategists fear.

Land-backed debt, called dirt bonds, earned 1.1% through Dec. 23. This is more than any other area of the market, according to Standard & Poor’s.