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Secondary markets

Canyon Partners inks deal helping A&D sell more mortgage bonds

MBS, Secondary markets /

Alternative asset manager Canyon Partners is committing $250 million to buy new mortgage bonds created by A&D Mortgage LLC, a partnership that will help the mortgage finance company substantially increase the pace of its bond sales.  Canyon will buy the riskiest slices of residential mortgage-backed bonds ineligible for guarantees from Fannie Mae and Freddie Mac, […]

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Ginnie Mae executive Joe Gormley nominated as president

Capital markets, Ginnie Mae, Secondary markets, Servicing /

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

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Trump asks bank CEOs to pitch on Fannie, Freddie stock offerings

Fannie Mae, Freddie Mac, GSE Reform, GSEs, Secondary markets /

President Donald Trump is bringing in bank leaders to meet with him one by one at the White House. Beyond the economic discussion, there’s a chance at a big payday for their firms.  Trump is asking for chief executive officers for their pitches on monetizing mortgage giants Fannie Mae and Freddie Mac, including a major

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Freddie Mac lower Q2 income due to rising credit provisions

Earnings, Housing markets, Secondary markets /

Freddie Mac’s net income declined 14% year-over-year in the second quarter, because it increased its provision for credit losses. Fannie Mae, when it reported earnings on Wednesday, cited a similar reason as contributing to its own second quarter drop off. Still, Freddie Mac reported net income of $2.39 billion, compared with $2.83 billion in the

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Pulte takes issue with Powell statement on Fed housing role

Mortgage Rates, Politics and policy, Secondary markets /

Housing regulator Bill Pulte showed new frustration with Federal Reserve Chairman Jerome Powell and the latest decision to keep short-term rates unchanged on Wednesday, adding to pressure President Trump has been putting on the monetary policymaker to lower them. This time Pulte used his social media account on X to take issue with the way

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Redwood Trust’s mortgage businesses turn 2Q profits

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Securitization /

While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own

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Fannie Mae trims costs but profits decline

Earnings, Fannie Mae, Secondary markets /

Fannie Mae, the larger of two government-related loan buyers the Trump administration is considering repositioning for monetization, reported net worth and efficiency improved in the second quarter but earnings fell due to a revised credit loss provision linked to softer home prices. The government-sponsored enterprise generated $3.3 billion in net income during the period, down

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Mortgage REIT Two weathers volatility and legal costs

Earnings, Law and legal issues, Originations, Secondary markets, Servicing /

Two, an investor and originator/servicer, recorded anticipated expenses from a dispute with a former external manager that weighed down second-quarter earnings as it navigated secondary market disruption. The real estate investment trust and owner of Roundpoint Mortgage Servicing reported a more than $270 million net loss to common shareholders (over $257 million including preferred and

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Score modernization taking shape but ROI tough to quantify

Credit scores, Politics and policy, Secondary markets /

Fannie Mae and Freddie Mac are set to accept newer credit scores that incorporate nontraditional data, a long-anticipated move that could expand access to home loans — but not without raising new questions and costs. That was the conclusion some experts like James Bennison, former executive vice president and head of alternative markets at Arch

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Barry Habib on his appointment to the Fannie Mae board

Career moves, Fannie Mae, FHFA, Politics and policy, Secondary markets /

Mortgage industry prognosticator Barry Habib was both surprised and honored that the Federal Housing Finance Agency approached him for a role on the Fannie Mae board. “I wasn’t expecting it, I didn’t solicit it, and it is an extreme honor,” Habib said in an interview with National Mortgage News. He was named to the Fannie

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