Hedge fund billionaire Bill Ackman is fueling more speculation about President Trump’s suggested Fannie Mae-Freddie Mac merger this fall, but experts debate the near-term benefits. The Pershing Square Capital Management CEO linked the concept to President Trump’s Truth Social post depicting a public offering for a single entity, citing the potential for a government-sponsored enterprise […]
Experts weigh Fannie-Freddie merger prospects Read More »
Since taking on responsibility for all Selene Holdings’ business lines earlier this year, Chief Strategy and Growth Officer Doug Whittemore has been focused on product development and scale by drawing on his 25 years of bank and nondepository experience. Whittemore — who previously led teams at U.S. Bank, JPMorgan Chase, Mr. Cooper and Citibank —
Selene Holdings’ Doug Whittemore on scale, cost, niche loans Read More »
The oversight agency for two government-sponsored enterprises sent out an image from President Trump over the weekend depicting a public offering for some of their shares near term but experts question the timing. The illustration from President Trump’s Truth Social post, like some others he’s posted around his policy initiatives, is designed to depict an
President Trump envisions November launch for mortgage IPO Read More »
Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing
Why there’s renewed interest in financing factory-built homes Read More »
Angel Oak Mortgage REIT eked out a profit in the second quarter but missed Wall Street expectations partially due to a note offering. The non-qualified mortgage player Tuesday reported net income of $767,000 for the period, well below an S&P Capital IQ consensus mean estimate of $6.34 million. The real estate investment trust’s quarterly results
Angel Oak bets on non-QM in volatile Q2 report Read More »
Ginnie Mae, a government corporation with the Department of Housing and Urban Development that protects funding for many U.S. mortgage loans, finally has a nominee for its long-vacant post of president. The Senate received the nomination of Joseph Gormley as Ginnie Mae president over the weekend and referred it to the Committee on Banking, Housing
Ginnie Mae executive Joe Gormley nominated as president Read More »
Overall employment numbers fell below what the market anticipated, with 73,000 July job additions compared to estimates for 104,000, making it more likely that a mortgage rate drop is nigh and that industry hiring may escalate. Bond market reaction to the Bureau of Labor Statistics data could lower long-term mortgage rates near term, according to
Weak jobs data boosts odds of mortgage rate drop Read More »
Mortgage bankers and brokers have been engaging in cautious hiring and they might want to remain careful about it given the complications the latest job numbers add to the rate outlook. At 266,700, nondepositories in the industry added an estimated 1,300 positions during the May homebuying season when compared to revised April numbers as total
Mortgage jobs, others inch up, as rate cut tensions grow Read More »
The conservator of two government-sponsored enterprises that buy and securitize many mortgages originated in the United States said he’s arranged some unusual talks between them to get their input on deregulation. “In following President Trump’s deregulation mandate, I ordered the executives of Fannie and Freddie to meet and provide me [with] regulatory changes,” Bill Pulte,
Pulte brings Fannie, Freddie together to talk deregulation Read More »
Fannie Mae and Freddie Mac unveiled a new strategy for their legacy joint venture, aligning with priorities set by President Trump and their federal overseer. Their Common Securitization Solutions JV will be renamed U.S. Financial Technology to reflect a new role in which it will sell access to the mortgage-backed securities platform used to manage
Fannie Mae, Freddie Mac revamp JV as fintech venture Read More »