Secondary

The credit union lobby on Tuesday was measured in its comments about the proposed privatization of Fannie Mae and Freddie Mac, even as it seeks to carve out secondary market protections for credit unions.

A bipartisan group of senators has proposed replacing Fannie Mae and Freddie Mac with a newly created government reinsurer.

While overall application volume decreased by 3% from the prior week on a seasonally adjusted basis for the week ended June 21, purchase applications were up, the Mortgage Bankers Association said.

The bipartisan bill calls for winding down Fannie Mae and Freddie Mac which currently purchase loans from lenders for cash.

We're hearing a lot about underwriting loosening a bit in the residential mortgage world.

Executives at Lennar Corp. said they are finding some marginal loosening in residential loan underwriting that has been too tight.

The first-lien holder on a single-family mortgage will be able to block the borrower from taking out a second lien under a government-sponsored enterprise reform bill slated to be introduced today.

Yet another CMBS is on the way through JPMorgan Chase Commercial Mortgage Securities Trust.

Although housing market stability and new issuance that has risen to its highest point since 2007 have been helping private-label residential mortgage-backed securities to some degree, Standard & Poor’s said it considers the outlook stable.

Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates extended increases sparked by a potential slowing of the Federal Reserve’s debt purchases.