Capital markets

Bonds have broadly surged in November after the latest U.S. consumer price index report showed essentially no changes in overall prices from the prior month, implying the Fed might be close to getting inflation under control.

Instead of buybacks, performing loans could be subject to fees related to defect rates, with some exceptions made for small lenders that deliver a limited volume of mortgages.

The departures of David Benson and Jeffrey Hayward means decades of internal experience are leaving the company, said David Stevens.

The agency is decreasing the dollar amount for the second consecutive year, maintaining the percentage quota for mission-related loans and adding a new exemption.

Policymakers are exercising restraint when it comes to the MBS portfolio for now but they'd still still like to sell, panelists at an industry conference said.

All of the loans were originated by CrossCountry Mortgage, which previously had a relationship for this product with Starwood.

Earnings benefited from low delinquencies and slow prepayment speeds, but high rates will limit growth opportunities.

He will take over the role from current non-executive chair Sara Mathew, who's allowed time on the government-sponsored enterprise's board is expiring.

Rather than adding the option of using two rather than three prior to score updates, the company suggested the former functionality be added after or scrapped.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Futurewave Finance was started by former FHLBank-Chicago executive Steve Thomas, as part of a personal mission to do more to help underprivileged communities.

The number of sellers it works with in the correspondent channel has grown due to pending capital requirements affecting larger depositories' interest in loans.

Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.

The company took another net loss but some of its numbers improved as it slashed expenses and prospects improved for distressed loan services.

News of President Chris Marshall's planned departure at year-end 2024 came amid reports of net servicing gains and the start of a capital raise for an MSR fund.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

While on the positive side, Fannie Mae CEO Priscilla Almodovar said the loan defect rate has dropped 75%, she and Freddie Mac President Michael Hutchins noted that they're closely examining disruptive servicing transfers and standards for multifamily properties.