Investments

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

It notched relatively higher returns after betting on asset-backed securities with a rotation out of mortgage debt and collateralized loan obligations.

While the share is slightly lower than at the start of 2023, the market is not expected to slip back to lower pre-pandemic levels, CoreLogic said.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

Moody's said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.

The yield on 30-year securities has climbed almost 25 basis points over the past three sessions, returning it to levels last seen in mid-November when inflation was still above 7%, more than double the current rate. Ten-year borrowing costs rose to around 4.15%. 

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.

Overall sentiment in the segment shows 30% of businesses expect market conditions to become more favorable for them over the next six months, while 26% said they would get worse, according to a new study.

The acquiring company netted an incremental gain in shareholder buy-in with its previous postponement but not enough to push the transaction forward.

Democratic senators including Banking Chair Sherrod Brown and Elizabeth Warren want to restrict tax breaks for large corporate investors that buy local homes and often drive up costs.

In their latest assessment of the bond market outlook, Morgan Stanley strategists are challenging the former head of the Federal Reserve Bank of New York's view that losses are likely to deepen.

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

Investors are piling into longer-dated notes on bets that policy makers will succeed in taming inflation, an outcome that will deliver strong and stable returns on debt.

The government-sponsored enterprise has shared $25.2 billion of insurance coverage through its Credit Insurance Risk Transfer program.

A pension fund looked to impose a fiduciary duty regarding a mortgage securitization instrument, but a federal judge said no.

But on a cumulative basis since 2013, the unpaid principal balance of reference pools is higher at Freddie Mac, according to the Federal Housing Finance Agency.

Businesses in the first quarter lost money in 1 of every 7 home sales, a rate which approached a seven-year high, Redfin said.

Treasury bills maturing in the first half of June rallied as trading resumed following the Memorial Day holiday, after a deal to lift the debt ceiling eased concern over the prospect of a calamitous U.S. default. 

However, much of the damage could already be priced into the stocks after this latest selloff, analysts said.