Capital markets

The agency is looking to improve liquidity for its reverse mortgage-backed securities issuers who have to buy back loans.

Part of the proceeds will be used to pay down a credit facility, which is then being refinanced and the principal reduced.

Michael Drayne, an industry consultant who previously served as a senior vice president of strategic planning and policy at Ginnie Mae, will join HPC in July.

Finance of America has $350 million of notes coming due next year and wants to trade them for $200 million of secured debt coming due in 2026 and $150 million maturing in 2029.

New York Mortgage Trust's 9.125% notes due 2029 may help fund new purchases of mortgages and securitizations in the private or agency markets.

North American firm Voxtur Analytics said a U.S. mortgage investor group backing a new slate of board nominees hadn't provided some information Canada requires.

But those in opposition are still giving the agency props for how it carried out the new product approval process for the first time.

Home price appreciation and favorable economic factors have led to consistent loan performance, but prepayments are increasing with an uptick in housing turnover, according to Morningstar DBRS.

The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do.

The increase in total home sales will be slower than prior projections and that should lead to less growth in purchase originations, Fannie Mae's June forecast said.