Secondary

Ginnie Mae ends the fiscal year on a down note as refinancings slow.

Home prices are up year-over-year. This has made sales more profitable, but costs related to the time it takes to get distressed loans to market are mounting.

The company last week reduced the size of the potential deal, originally planned for September, to include $250 million of jumbo mortgages, down from $310 million.

A mortgage services provider and origination technology vendor fare best, but their gains are relatively meager.

The trader’s performing and nonperforming loan prices increased in August, but the same could not be said for CMBS loans.

The second commercial mortgage-backed securities conduit deal from Deutsche and Cantor in less than a month has 30% credit enhancement protecting top-rated notes and relatively high leverage.

Essent and its investors are now selling almost 20 million shares for $13.50 to $15.50 apiece, according to a regulatory filing today from the Bermuda-based firm.

Eight of 17 mortgage stocks generated small single-digit percentage gains during the trading day and nine stocks declined slightly.

Dexia filed the suit in January 2012 over 29 residential mortgage-backed securities bought by its unit FSA Asset Management from Morgan Stanley for $626 million in 2006 and 2007.

SunTrust Banks' third-quarter earnings fell 51% from the second quarter and 83% from a year earlier, to $179 million.