|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.2900 - 2.4300|
|52 Week Range||0.9800 - 3.1000|
|Beta (3Y Monthly)||2.94|
|PE Ratio (TTM)||18.26|
|Earnings Date||Jul 29, 2019 - Aug 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
Moody's Investors Service ("Moody's") has assigned provisional ratings to six classes of notes issued by Station Place Securitization Trust 2019-WL1. The securities are backed by a revolving pool of newly originated first-lien, fixed rate and adjustable rate, residential mortgage loans which are eligible for purchase by Fannie Mae and Freddie Mac.
MCLEAN, Va., July 18, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are backed by underlying.
Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after three weeks of holding fairly steady, average mortgage rates ticked up this week. Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates moved higher after remaining at around the same level for about three weeks. “Despite this slight increase in rates, homebuyers are taking advantage of the multi-year low rates in droves, which is evident in the consistently higher refinance and purchase application volumes.
There are over 10,000 securities traded on the OTC Markets, 1,430 of which trade on the market’s top two tiers, OTCQX and OTCQB. But when it comes to the most actively traded of those securities, there ...
NEW YORK/WASHINGTON, July 17 (Reuters) - The Trump administration's hotly anticipated blueprint for overhauling mortgage guarantors Fannie Mae and Freddie Mac may not be published until September as the U.S. Treasury juggles several other pressing issues, the housing regulator told Reuters. Mark Calabria, director of the Federal Housing Finance Agency (FHFA), which oversees the government-sponsored enterprises, said in an interview it was his "hope" that they would have exited or be ready to exit conservatorship before his term ends in 2024. Calabria's comments will temper market expectations for a speedy overhaul of Fannie and Freddie before the 2020 presidential election.
Fannie Mae and Freddie Mac will eventually halt purchases of U.S. home loans linked to the London interbank offered rate (LIBOR) as that index is set to be phased out after 2021, Mark Calabria, the head of the Federal Housing Finance Agency, told Reuters on Wednesday. LIBOR is referenced against $200 trillion worth of U.S. financial products, primarily in interest rate derivatives. There are roughly $1 trillion in adjustable-rate mortgages (ARMs), or about 6.5% of all U.S. home loans outstanding, which are reset against it.
Fannie Mae and Freddie Mac will eventually halt purchases of U.S. home loans linked to the London interbank offered rate (LIBOR) as that index is set to be phased out after 2021, Mark Calabria, the head of the Federal Housing Finance Agency, told Reuters on Wednesday. LIBOR is referenced against $200 trillion worth of U.S. financial products, primarily in interest rate derivatives. "We have not yet told Fannie and Freddie to stop buying LIBOR ARMs, but that is a day that will come," FHFA director Mark Calabria told Reuters.
Rating Action: Moody's upgrades two and affirms three CMBS REMIC classes of FREMF 2014- K715 and affirms the ratings of two SPC classes of Freddie Mac SPCs, Series K-715. Global Credit Research- 16 Jul ...
Moody's Investors Service has assigned Aaa rating to approximately $150M Florida Housing Finance Corporation Homeowner Mortgage Revenue Bonds, 2019 Series 1 (Non-AMT). As of December 31, 2017 financial statements, the program achieved an adjusted debt service coverage ratio of approximately 1.24x. The 2019 Series 1 bonds are special, limited obligations of the Corporation secured by mortgage loans, mortgage backed securities, investments and reserves, and other trust funds pledged under the Trust Indenture.
A securities industry group has put the government on alert that any effort to release Fannie Mae and Freddie Mac from conservatorship must have a spelled-out government guarantee, arguing that an implied backstop won’t be enough, as it was in 2008, and will cause investors to flee the market for mortgage-backed securities.
A Washington analyst who’s watched Fannie Mae and Freddie Mac from a policy perspective for many years initiated coverage of their stocks, saying any reform plan would be more likely to benefit holders of the preferred shares than common.
An experimental new interest-rate index can be a suitable replacement for Libor, the current benchmark rate index set to be retired after 2021, a working group of finance professionals has determined.
Mortgage rates held steady as FED Chair Powell offset the effects of the previous week’s NFP numbers on Treasury yields…
MCLEAN, Va., July 12, 2019 -- Freddie Mac today reminded Single-Family mortgage servicers of its disaster relief policies for borrowers affected by Tropical Storm Barry..
(Bloomberg) -- The Trump administration is growing wary of taking bold steps toward freeing Fannie Mae and Freddie Mac from federal control before the 2020 election, said people familiar with the matter, in part because of the political risk of potentially upending the U.S. mortgage market.While White House and Treasury Department officials are eager to end the companies’ decade-long conservatorships, they see the task as arduous, slow-moving and extremely complicated, said the people who asked not to be named in discussing internal deliberations.Adding to the challenge is that Treasury Secretary Steven Mnuchin is spending much of his time on more pressing priorities, including the trade war with China, debt ceiling negotiations with Congress and imposing sanctions on Iran and other nations. Still, Mnuchin, who has experience in the mortgage banking industry, works on housing finance weekly, according to one of the people.“The president earlier this year instructed the Department of Treasury to develop a comprehensive plan for bold reform,” White House spokesman Judd Deere said in an email statement. The National Economic Council, Treasury, Federal Housing Finance Agency and others “continue to work together on this presidential priority and anything to suggest otherwise is false,” Deere said.Fannie slid as much as 11% before rebounding to $2.70, a 4.2% decline, at 1:38 p.m. in New York. Freddie fell as much as 10% and stood at $2.61, down 3.3%. The declines were the biggest since Mnuchin told Bloomberg in June that he didn’t want to release the companies from government control without reform.Releasing Fannie and Freddie is no easy lift. It could require raising more than $200 billion -- likely through the biggest share offerings in history -- to ensure the companies have enough capital to survive a meltdown. And the Treasury’s point-person on the companies, counselor Craig Phillips, left last month. His departure raises questions about who might drive work on the issue with other agencies, and potentially on Capitol Hill.One concern among administration officials is that freeing Fannie and Freddie could impact the housing market, possibly making it harder for borrowers to get loans just as President Donald Trump is seeking another term, two of the people said. Housing is a key factor in the health of the U.S. economy, which is seen as crucial to Trump’s re-election prospects.As wards of the state, Fannie and Freddie benefit from pristine credit ratings and a government line of credit, which keeps financing flowing for mortgage lending and borrowing rates low for buyers. It’s not clear how investors in mortgage bonds and lenders might react if the companies were no longer assumed to have the full backing of the U.S. government.There’s still plenty of action the White House, Treasury and Fannie and Freddie’s regulator, the Federal Housing Finance Agency, can take in the next 18 months.For instance, they can curtail Fannie and Freddie’s footprints in the mortgage market, which would reduce risks to the companies. FHFA Director Mark Calabria could also impose a formal rule that dictates how much capital Fannie and Freddie must hold.Perhaps most significantly, Treasury and FHFA could halt a policy that requires the companies to send nearly all their earnings to the Treasury. Though one person familiar with the matter cautioned that ending the so-called profit sweep is unlikely to happen this year.Signs that the administration is moving more slowly than anticipated are evident. Treasury has yet to issue a long-awaited report on its plan for getting Fannie and Freddie out of the government’s grip, despite Calabria saying he hoped it would be released by the end of June. Now, agencies are aiming to get the document out within the next couple of months, according to people familiar with the matter.The stakes are significant. Fannie and Freddie fuel the housing market by buying mortgages from lenders and packaging them into bonds that are sold to investors with guarantees of interest and principal. The process provides financing that makes homes more affordable, and keeps the mortgage market liquid. In total, Fannie and Freddie stand behind about $5 trillion of home loans.Figuring out a fix for the companies, by far the biggest unresolved issue from the 2008 financial crisis, has long confounded policy makers and lawmakers. The companies were taken over by regulators and bailed out by taxpayers during the collapse of the housing market, ultimately getting $191 billion in aid. They have since become profitable again, and paid more in dividends to Treasury than they received in rescue funds.This year, there’s been optimism that Washington was finally making progress, particularly following the April appointment of Calabria.A former economic adviser to Vice President Mike Pence, Calabria made a series of speeches and media appearances in the weeks after joining the FHFA in which he signaled fresh action. He said his agency and the Trump administration might bypass Congress to end the conservatorships, and that he wanted Fannie and Freddie ready to start raising capital by Jan. 1 of next year.Trump himself even joined in, telling Realtors at a May conference in Washington that dealing with Fannie and Freddie was a “pretty urgent problem.”For some on Wall Street -- hedge funds and other investors that own Fannie and Freddie shares -- the remarks have spurred excitement that they were poised to make a windfall, and possibly soon. The stocks have more than doubled this year.Mnuchin has already signaled that he’s not looking for a quick fix for Fannie and Freddie. In a June 8 Bloomberg interview, he said the administration wouldn’t just let the companies build up capital and then release them without making major changes to housing finance policy.Mnuchin hasn’t ruled out bypassing Congress to free Fannie and Freddie. Though Phillips’ June exit from Treasury might make doing so harder. The former BlackRock Inc. and Morgan Stanley executive has mortgage-finance expertise and deep connections on Wall Street, which probably would have proved helpful for possible stock sales. Phillips also had a strong interest in the issue, and it’s not clear who might fill that void at Treasury now that he’s gone.(Updates with White House spokesman’s comment in the fourth paragraph.)To contact the reporters on this story: Saleha Mohsin in Washington at firstname.lastname@example.org;Jennifer Jacobs in Washington at email@example.com;Austin Weinstein in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jesse Westbrook at email@example.com, ;Alex Wayne at firstname.lastname@example.org, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Freddie Mac (FMCC) announces the pricing of the SB64 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust. The company expects to guarantee approximately $398 million in Multifamily SB Certificates (SB64 Certificates), which are anticipated to settle on or about July 19, 2019. Freddie Mac Small Balance Loans generally range from $1 million to $6 million and are generally backed by properties with five or more units.
Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after declining for most of the year, mortgage rates remained mostly unchanged this week. “The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodative tone from the Federal Reserve to respond to the rising downside economic risk from trade tensions and soft global economic data.
MCLEAN, Va., July 11, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
MCLEAN, Va., July 10, 2019 -- Freddie Mac today announced second quarter 2019 results for its Single-Family Credit Risk Transfer (CRT) STACR® and ACIS® offerings. The two.
The G20 Summit provided the upside for yields in the week, in spite of weak stats out of the U.S. NFP numbers could give rates another boost this week.
Bob Ryan, a special advisor to the head of the Federal Housing Finance Agency, will depart from the agency, which oversees Fannie Mae and Freddie Mac, as of July 12 after serving in that role since 2014, the FHFA said on Wednesday. Ryan was appointed as a special adviser along with three others by then-FHFA head Mel Watt, who was succeeded by Mark Calabria in April. Before joining the FHFA, Ryan was a senior vice president of capital markets at Wells Fargo Home Mortgage.
Moody's Investors Service ("Moody's") has assigned definitive ratings to 22 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-5. The certificates are backed by 923 30-yearfully-amortizing fixed-rate mortgage loans with a total balance of $636,423,931 as of the June 1, 2019 cut-off date. All of the mortgage loans have a 30-year term, except for one which has a 20-year term.
Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the mortgage rates stabilized this week after trading within a narrow range over the last month. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide.
Old mortgage bonds at the heart of the 2008 global financial market crisis are on the road to becoming extinct. Mortgage bonds packed with crisis-era home loans have dwindled to just $431.5bn from their 2007 peak of more than $2.3 trillion as home foreclosures, borrower defaults and loan repayments have trickled through the system, according to Bank of America Merrill Lynch data. “Half way through 2019, it appears non-agency RMBS may be at a turning point in terms of issuance,” Bank of America analysts led by Chris Flanagan wrote in a note to clients.
Moody's Investors Service has assigned a Aa2 rating to the proposed $72.77 million of New York State Housing Finance Agency (the "Agency" or "NYS HFA"), Affordable Housing Revenue Bonds, 2019 Series K (Sustainability Bonds) and $9.6 million Affordable Housing Revenue Bonds, 2019 Series L (Climate Bond Certified/Sustainability Bonds). The outlook is stable.