|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.8000 - 2.8800|
|52 Week Range||0.9800 - 3.1000|
|Beta (3Y Monthly)||3.60|
|PE Ratio (TTM)||21.44|
|Earnings Date||Jul 29, 2019 - Aug 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
The Trump administration and the Federal Housing Finance Agency are both making overtures toward getting the ability to charter a new mortgage finance giant in the mold of Fannie Mae and Freddie Mac, something all housing observers are keeping a close eye on.
MCLEAN, Va., June 17, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
According to Freddie Mac’s (FMCC) June Forecast, low mortgage rates along with a strong labor market will help housing markets post modest growth over the next year and a half. Sam Khater, Freddie Mac’s chief economist, says, “Concerns about global growth and ongoing trade disputes have pushed long-term interest rates lower, resulting in mortgage rates seeing their lowest level since fall 2017. Due to the surge in gasoline prices in the second quarter of 2019 and possible effects on import prices via trade disputes, expect consumer prices to rise by 3.0% and 2.4% in the second and third quarter of 2019, respectively.
Moody's Investors Service is seeking feedback from market participants on proposed changes to its approach to rating US prime residential mortgage-backed securities (RMBS) backed by government-sponsored enterprise (GSE) and private label prime first-lien mortgage loans originated during or after 2009. Unless changes are made following the comment period, this updated credit rating methodology will be adopted as proposed. The proposed changes would enhance the methodology and applicable models for rating and monitoring ratings of US prime RMBS by updating components of our collateral analysis model known as Moody's Individual Loan Analysis (MILAN).
Concern that the administration might try to release the companies with no federal backstop has largely been triggered by their regulator, Federal Housing Finance Agency Director Mark Calabria. An appointee of President Donald Trump, he suggested in media interviews last month that he thought Fannie and Freddie could survive without one by building up capital buffers and reducing market risk. Treasury Secretary Steven Mnuchin, who Calabria will collaborate with on many reforms, has said that he would prefer there be an explicit backstop, though he hasn’t ruled out bypassing Congress to free Fannie and Freddie.
The head of the U.S. Federal Housing Finance Agency (FHFA) said on Thursday that Congress should create a "limited" explicit guarantee for government-sponsored enterprises Fannie Mae and Freddie Mac. "The explicit guarantee should be limited, clearly defined, and paid for," Mark Calabria told an audience in Washington. Fannie and Freddie have operated under government conservatorship since they were bailed out during the 2008 subprime mortgage crisis.
Rating Action: Moody's upgrades $814.6 Million of GSE credit risk transfer RMBS issued from 2014 to 2017. Global Credit Research- 13 Jun 2019. New York, June 13, 2019-- Moody's Investors Service has upgraded ...
Jared Kushner, the former chief executive officer of Kushner Cos., maintained ownership of some assets associated with the real estate company while divesting others to close family members when he became an adviser to his father-in-law, President Donald Trump. Kushner’s status, combined with the size of the loan backed by federally chartered Freddie Mac, raise “serious questions about conflicts of interest and whether Kushner Companies may have received special treatment” from Freddie, the senators wrote in a June 13 letter to Freddie’s chief executive officer, Donald H. Layton.
MCLEAN, Va., June 13, 2019 -- Freddie Mac (OTCQB: FMCC) announces the pricing of the SB63 offering, a multifamily mortgage-backed securitization backed by small balance loans.
MCLEAN, Va., June 13, 2019 -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage.
Lawmakers should pursue measures that reduce taxpayer risk, promote competition and support sustainable home-ownership, Federal Housing Finance Agency Director Mark Calabria wrote in a letter accompanying his first annual report to Congress. “Reform remains overdue, despite prior efforts, and we should view this task with some urgency,” Calabria wrote in the letter dated June 11. Congress has failed in repeated efforts to deal with Fannie and Freddie, which have been under U.S. conservatorship since they were seized by regulators as the mortgage market collapsed in 2008.
US homeowners are rushing to refinance their mortgages, taking advantage of a drop in borrowing costs triggered by lingering trade tensions and growth concerns that have fuelled a global bond rally. Applications to refinance home loans rose 47 per cent for the week to June 7, according to an index from the Mortgage Bankers Association, reaching levels last seen in November 2016, shortly before the Federal Reserve increased its pace of interest rate increases, pushing mortgage borrowing costs higher. The rise in mortgage applications comes as the average interest on a 30-year fixed rate mortgage has fallen from 4.42 per cent at the beginning of May, when trade tensions began to escalate, to 4.12 per cent in the latest MBA data.
Moody's Investors Service has assigned provisional ratings to 38 classes of residential mortgage-backed securities (RMBS) issued by OBX 2019-INV2 Trust (OBX 2019-INV2). OBX 2019-INV2, the third rated issue from Onslow Bay Financial LLC (Onslow Bay) in 2019, is a prime RMBS securitization of fixed-rate, agency-eligible mortgage loans secured by first liens on non-owner occupied residential properties with original terms to maturity of mostly 30 years.
In a June 8 interview, Mnuchin was adamant that the Trump administration won’t just let Fannie and Freddie build up their capital buffers and then release the companies. Fannie and Freddie shares fell on his comments. “What we’re not going to do is business as usual with no changes, just re-capitalize them and float them,” said Mnuchin, referring to a possible public offering of Fannie and Freddie shares.
Freddie Mac (FMCC) today announced it will soon go to market with a new deal designed to meet the needs of investors seeking “green” bonds. The KG-Deals are the environmental and social impact series of Freddie Mac’s flagship K-Deal program. Freddie Mac has purchased more than $44.7 billion in green loans since the inception of the program in 2016.
MCLEAN, Va., June 07, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
MCLEAN, Va., June 07, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a K-C Series offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage rate fell to 3.82 percent, the sixth consecutive weekly decline and its lowest level since September 2017. Sam Khater, Freddie Mac’s chief economist, says, “While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wide dispersion among mortgage rate offers.
Freddie Mac (FMCC) announced today All For Home, a new approach to its Single-Family affordable lending mission, which is driving industry change by providing education, mortgage offerings, business solutions, and insights to lenders and the affordable housing ecosystem. “For nearly 50 years, Freddie Mac has been making home possible for millions of people who wish to purchase a home,” said Danny Gardner, Senior Vice President of Single-Family Affordable Lending and Access to Credit at Freddie Mac. With All For Home, Freddie Mac Single-Family is working to change the perception of affordable lending by providing thought leadership, educational resources and innovative, collaborative solutions to enable lenders and partners to reach more people who want to own a home.
Freddie Mac (FMCC) today announced the settlement of the first Seasoned Loans Structured Transaction Trust (SLST) offering of 2019—a securitization of approximately $1.2 billion including both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs). The SLST program is a fundamental part of Freddie Mac's seasoned loan offerings which reduce less-liquid assets in its mortgage-related investments portfolio and shed credit and market risk via economically reasonable transactions. Freddie Mac Seasoned Loans Structured Transaction Trust, Series 2019-1 includes approximately $942 million in guaranteed senior certificates and approximately $276 million in non-guaranteed subordinate certificates.
Americans will benefit from the efficiency and standardization brought about by this new common security. The success of the initiative is a direct result of Freddie Mac’s collaboration with Fannie Mae, Common Securitization Solutions, FHFA, and thousands across the U.S. housing finance industry. Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
Moody's Investors Service (Moody's) has assigned definitive ratings to 24 classes of residential mortgage-backed securities (RMBS) issued by CIM Trust 2019-INV2. CIM Trust 2019-INV2, the second rated transaction sponsored by Chimera Investment Corporation (Chimera or the Sponsor) in 2019, is a prime RMBS securitization of fixed-rate investment property mortgage loans secured by first liens on agency-eligible non-owner occupied residential investor properties with original term to maturity of up to 30 years. All of the loans are underwritten in accordance with Freddie Mac or Fannie Mae guidelines, which take into consideration, among other factors, the income, assets, employment and credit score of the borrower.
Moody's Investors Service has assigned Aaa rating to the proposed $15,000,000 sale of Housing Finance Authority of Pinellas County, FL's (The Authority) Single Family Housing Revenue Bonds (Multi-County Program) 2019 Series A (Non-AMT). The rating is based on the high quality of the mortgage-backed securities, a sound legal structure and cash flow projections under a range of appropriate prepayment assumptions that indicate sufficient revenues to pay timely debt service and program expenses. The 2019 Series A bonds will be used to purchase mortgage-backed securities secured by loans made to finance single family homes within three participating counties: Pinellas, Pasco and Polk.