Economy

Maine's red-hot residential real estate market shows no signs of cooling, thanks in part to increased interest from out-of-state buyers.

To continue providing liquidity for lenders, Fannie Mae lengthened the period in which it would continue the purchase of forborne mortgages and pools of mortgage-backed securities into 2021.

And how people involved with Replay Acquisition made it more attractive than an initial public offering, according to CEO Patricia Cook.

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

The pandemic has turned stress-testing around liquidity from theory into an actual case study. And while lenders shore up their cash reserves, they explain why many have been hesitant to take advantage of Ginnie Mae's Pass-Through Assistance Program.

Leadership from those entities confirmed this week that they will move forward with a plan to add a controversial 50-basis-point charge for refinancing.

The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

Johnson led Fannie in the 1990s and played an advisory role in President Barack Obama's 2008 campaign.