Reverse mortgage company Finance of America’s continuing operations took a net loss on a one-time adjustment in the third quarter, but it was profitable on that basis for the year-to-date, unaudited interim results show. The company reported a $29 million in net loss from continuing operations during the third quarter due to home price model […]
Finance of America reports 3Q loss, nine-month profit Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. A coalition of real estate and banking groups, including the Community Home Lenders of America, the Independent Community Bankers of America, and the National Association of Realtors, wants Fannie Mae and Freddie Mac to buy conventional mortgage-backed securities to help the mortgage
Reviving GSE MBS purchases would repeat the Fed’s mistake Read More »
As thousands of borrowers potentially face job interruption resulting from the government shutdown that’s disrupted some loans, the housing finance industry is working to identify the right messaging and resources to keep payments and originations on track. With a Congressional Budget Office report pegging the number of jobs impacted at 750,000, mortgage businesses are offering
How mortgage companies aim to aid borrowers amid shutdown Read More »
Several developments involving companies active in the industry’s secondary and capital market emerged this week. AI-driven pricing data provider buys MBS specialist Solve, a provider of pre-trade data and predictive pricing that has long used artificial intelligence to aggregate and analyze information, announced Thursday that it has purchased a company with similar but deeper capabilities
Tech developments in the mortgage capital markets heat up Read More »
A government-sponsored enterprise oversight agency floated a new strategic plan on Wednesday that includes an emphasis on the supply side of the housing market in one portion of three overarching goals. US Federal Housing will be collecting comments through Nov. 5 on the new plan for its operations, two GSEs it oversees that are in
FHFA seeks comment on new strategic plan for GSEs Read More »
Bill Pulte, the head of the oversight agency for Fannie Mae and Freddie Mac, signaled that he will be taking steps to follow up on President Trump’s call for them to put a new focus on home construction companies. One step will involve tracking megabuilders’ business, Federal Housing Finance Agency Director Pulte indicated in an
Pulte hints at how Fannie, Freddie may spur builder activity Read More »
The lingering government shutdown has increased rate uncertainty, and cut off or curtailed some specialized mortgages while mainstream business moves forward, albeit at a slower pace in some cases. “Until key reports like payrolls and the CPI return, rates are likely to remain range-bound but vulnerable to sudden shifts,” said Sam Williamson, chief economist at
Shutdown hampers rates, rural, HECM and niche condo loans Read More »
The potential government shutdown that’s looming this week due to an impasse between political parties in budget negotiations has some new risks for housing. In addition to more typical concerns, an Office of Management and Budget memo issued last week means the usual furloughs could be layoffs that compound the impact of previous public sector
New dangers for housing in looming shutdown: How mortgage lenders can prepare Read More »
The value of government-sponsored enterprises’ Fannie Mae and Freddie Mac stems from their mortgage-market role and experts at a Bipartisan Policy Center event at times took varying stances on what it would take to preserve and protect that position amid reform. The panel’s comments arrived ahead of Federal Housing Finance Agency Director Bill Pulte’s ongoing
Panel eyes GSEs’ guarantee as public offering talks progress Read More »
Flood insurance company Neptune Insurance Holdings Inc.’s shareholders are seeking to raise $368.4 million in a US initial public offering, adding to the flow of insurance firms debuting this year. The St. Petersburg, Florida-based company plans to market 18.4 million shares for $18 to $20 each, according to its filing Monday with the U.S. Securities and Exchange
Flood insurer Neptune’s backers seek $368 million in IPO Read More »