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Capital markets

What underserved market supporters want to see in GSE reform

Capital markets, Housing markets, Politics and policy, Secondary markets /

Affordable housing groups weighing on behalf of underserved communities are advocating for a cautious approach to the government-sponsored enterprise reform the Trump administration is pursuing. “Any changes to the enterprises cannot raise costs on renters and homeowners,” the Underserved Mortgage Markets Coalition said in laying out one of its priorities for reform as administration officials […]

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Why mortgage lenders haven’t waited for the Fed to cut rates

Capital markets, Federal Reserve, Originations, Secondary markets /

Home lenders were already pricing in a 25 basis-point Federal Open Market Committee cut as a key monetary meeting got underway Tuesday, suggesting that it’ll take an outcome beyond that for them to move lower. “If they cut 25 basis points and the narrative is neutral, and reasonable people can disagree or debate what neutral

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Fed ‘Operation Mortgage Twist’ would boost housing: Pimco

Capital markets, Federal Reserve, Mortgage Rates /

The Federal Reserve may be poised to resume interest-rate cuts this week, but it could do more to ease US mortgage costs and stimulate housing by using different tools involving its balance sheet, says Pacific Investment Management Co. Even as traders fully expect the Fed to cut their short-term target by a quarter-point toward 4%

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Homebuilder sentiment stays low despite mortgage-rate drop

Capital markets, REALTORS & HOMEBUILDERS /

Sentiment among U.S. homebuilders remained at one of its lowest levels in years this month, underscoring the deep freeze in the housing market despite a recent drop in mortgage rates. An index of market conditions from the National Association of Home Builders and Wells Fargo was unchanged at 32 in September, similar to economists’ estimates

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Enterprises’ NPL sales reduce bad assets to a 9-year low

Capital markets, Distressed, Fraud, Secondary markets, Servicing, The Great American Mortgage Corporation /

Two large government-related investors saw their annual nonperforming-loan sales reverse course and resume an upward trend for the first time since 2021, adding to signs that more distressed mortgages are slowly making their way to market as pandemic restrictions get lifted. The number of NPLs Fannie Mae and Freddie Mac sold in 2024 rose to

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Why MBA is renewing opposition to a Fannie-Freddie merger

Capital markets, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

The Mortgage Bankers Association’s chief issued a reminder of why it has opposed merging two influential government-sponsored loan buyers as federal officials signaled momentum in pursuing a public offering. “Creating a government-conferred monopoly would diminish innovation, degrade service to market participants and heighten systemic risk,” MBA President and CEO Bob Broeksmit said in a blog

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LitFinancial turns to crypto for mortgage funding

Capital markets, Cryptocurrency, Digital payments, LOAN PRODUCTS, Originations, Secondary markets /

Mortgage correspondent lender LitFinancial has launched a stablecoin on an Ethereum blockchain with the initial aim of improving its treasury efficiency and reducing its cost of capital. Lit, based in Troy Michigan, is working with Brale, a stablecoin-as-a-service platform, and Stably, a stablecoin advisory firm, on the new token which is named litUSD. Brale is

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Rocket debt extended as Mr. Cooper deal moves toward closing

Capital markets, M&A, Originations, Rocket Mortgage, Servicing /

The majority of Rocket holders with senior debt that’s part of the tender offer and exchange related to the Mr. Cooper acquisition approved it, and the expiration was extended Tuesday. This suggests the pending deal, which recently received a key conditional approval from the regulator of large government-related mortgage investors, will move toward closing. Rocket

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Former FHFA official seeks to empower local leaders

Capital markets, CAREER & COMPENSATION, Career moves, Politics and policy /

Antonio White built his career in high-level Washington-related posts he held at the Federal Housing Finance Agency, Treasury, Bank of America and the Bill and Melinda Gates Foundation. But he got there through the work and connections he built growing up around Route 480 in Cleveland. That’s why White is starting a business called 480

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Fannie, Freddie’s stress test losses ease from 2024

Capital markets, Fannie Mae, Freddie Mac, Politics and policy, Risk management, Secondary markets /

Fannie Mae and Freddie Mac look like they would hold up better in a severe downturn today than their collective stress tests indicated in 2024. The tests modeled how they’d fare after absorbing losses like a total $36.1 billion provision in net chargeoffs plus foreclosed property expenses. That shows the credit losses they’d be likely

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