Secondary

An 11 basis point rise in rates for the 30-year conforming fixed-rate loan has resulted in a 9.8% decrease in mortgage application volume on a seasonally adjusted basis for the week ended May 17.

Fannie Mae priced its fifth multifamily REMIC of the year on Tuesday totaling $1.02 billion.

With that status, the company can originate for sale to Freddie Mac (and retain the servicing rights on) mortgages securing independent living, assisted living, memory care and rental continuing care properties.

Commercial real estate loan collateralized debt obligation delinquencies remained stable at 13.2% in Fitch Ratings’ latest monthly report.

The Federal Housing Finance Agency should require the government-sponsored enterprises to purchase loans with deeper levels of credit enhancement in exchange for bona fide reductions in guarantee fees and other loan level charges, the Mortgage Bankers Association says.

Financial services provider NewOak Capital has opened NewOak Credit Services LLC in Danbury, Conn.

MountainView Servicing Group is exclusively managing the sale of two servicing portfolios.

Minnesota would set aside revenue from a proposed cigarette tax increase and corporate tax changes as a backup, should gambling revenue continue to fall short of the amount needed to make payments on bonds for a new Minnesota Vikings football stadium.

Security National Financial Corp.’s residential mortgage business saw a near 30% increase in revenue in the first quarter on a year-over-year basis.

Hedge funds are piling into mortgage insurers in a bet that some of the companies worst hit by the U.S. housing crash will be among the biggest winners in the rebound.