Secondary markets

Wellington Denahan is stepping down as chief executive officer of Annaly Capital Management Inc., the largest real estate investment trust that buys mortgage debt.

Community Housing Capital in Decatur, Ga., has received a $100 million line of credit dedicated for the development and preservation of affordable housing from a syndicate organized by Morgan Stanley.

JPMorgan Chase & Co. agreed to pay $388 million to settle a suit by investors who claimed the bank misled them about the safety of $10 billion worth of residential mortgage-backed securities, a lawyer said.

As new foreign bank regulations push financial institutions to shed risk-weighted assets, companies like Barclays and RBS are reducing their roles in the mortgage-backed securities market. But reduced competition in this sector is bad for liquidity.

Fannie Mae has priced what it expects will be its final fixed severity deal.

JPMorgan Securities will issue a total of $388 million of securities backed by two pools of jumbo, prime residential mortgages.

Freddie Mac is expanding its risk-sharing efforts meant to protect taxpayers and potentially prepare the $9.4 trillion U.S. home-loan market for its future.

MGIC has discounted single-premium lender-paid mortgage insurance by 11% during the second quarter in order to get market share in this highly competitive product.

Credit Suisse Group is seeking to sell almost $300 million of notes tied to mortgage-insurance policies written by an American International Group Inc. unit, offering investors a new way to profit from a reviving U.S. housing market.

The efforts of Fannie Mae and Freddie Mac shareholders to claw back the value of their investments by suing the U.S. Treasury have not elicited much support on Capitol Hill.

Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for toxic assets. After losing billions for years, Citi Holdings has now become a minor profit source for its parent.

Fannie Mae completed its second credit risk sharing transaction as part of its efforts to diversify counterparty exposure and reduce taxpayer risk.

Plans to reduce U.S. Army ranks by 40,000 soldiers add pressure to military communities and raise risk for bonds used to privatize base housing, experts said.

More government-sponsored enterprise risk-sharing transactions are on the way to join those already issued this year by Freddie Mac, Fitch Ratings said in a report issued Monday.

Arbor Commercial Mortgage has been selected by Fannie Mae as a lender for its program for multifamily housing for seniors.

Fannie Mae has introduced a smartphone application designed to help potential homeowners learn how to save for their first purchase.

New prime jumbo residential mortgage-backed securities issuance looks on track to outpace last year's levels, Fitch Ratings announced Monday.

Some housing professionals have grown reluctant to participate in the Federal Home Loan Banks' Affordable Housing Program, objecting to burdensome requirements and rules that are inconsistent with other funding sources. It's time for the Federal Housing Finance Agency to make some updates.

Freddie Mac has obtained two more reinsurance policies transferring risk of default on mortgages that it insures.

In a real estate development that has a tinge of symbolism tied to the recent past, the Washington Post's downtown D.C. location will be torn down to make room for Fannie Mae's new consolidated headquarters.