|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.7400 - 2.8000|
|52 Week Range||0.9800 - 3.2700|
|Beta (3Y Monthly)||3.73|
|PE Ratio (TTM)||250.91|
|Earnings Date||May 4, 2017 - May 8, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.50|
Moody's Investors Service (Moody's) has assigned provisional 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 fully-amortizing fixed-rate mortgage loans with a total balance of $636,423,931 as of the June 1, 2019 cut-off date.
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.
Moody's Investors Service ("Moody's") assigns Aaa to $8 million of City of Coon Rapids, Minnesota, Multifamily Housing Revenue Bonds (Galway Place Townhomes/Community Plaza Projects), Series 2019A. The rating is based on the high credit quality of the Guaranteed Pass-Through Certificate (MBS) issued by Fannie Mae, a sound legal structure where principal and interest are passed through to bondholders monthly, and cash flow projections that exhibit sufficient revenues to pay full and timely debt service until maturity.
Moody's Investors Services has assigned Aaa rating to approximately $55.17 million Housing Opportunities Commission of Montgomery County (Montgomery County, Maryland) Multifamily Housing Development Bonds 2019 Series A (Non-AMT). Moody's maintains Aaa rating on all outstanding parity debt issued under the Commission's 1996 multifamily indenture.
The rating is based on the high credit quality of the Guaranteed Pass-Through Certificate (MBS) issued by Fannie Mae, a sound legal structure where principal and interest are passed through to bondholders monthly, and cash flow projections that exhibit sufficient revenues to pay full and timely debt service until maturity.
Moody's Investors Service has assigned an Aaa rating to Ohio Housing Finance Agency, OH's (OHFA) $150 million Residential Mortgage Revenue Bonds (Mortgage-Backed Securities Program) 2019 Series B (Non-AMT). Moody's Investors Service also maintains the Aaa rating on approximately $759 million of outstanding parity bonds as of June 30, 2018. The Aaa ratings assigned to the 2019 Series B Bonds reflect the high quality collateral comprised of GNMA, Fannie Mae and Freddie Mac Mortgage-Backed Securities (MBS), the 1.24x program asset-to-debt ratio (as of 6/30/18) and the program's strong historical financial performance.
Moody's Investors Service has assigned the rating of Aa2 to the proposed $7,975,000 of New York State Housing Finance Agency (the "Agency" or "NYS HFA") Affordable Housing Revenue Bonds, 2019 Series J. Moody's also maintains a Aa2 rating on all outstanding parity debt issued under the Agency's General Resolution adopted on August 2007 (the "Resolution"). This rating action does not apply to bonds issued as part of the New Issue Bond Program ("NIBP") under the 2009 Supplemental Series Indenture, which are also rated Aa2.
The rating is based on the high credit quality of Fannie Mae and trustee-held investments, sound legal structure of the transaction, and cash flow projections that demonstrate sufficient revenues to pay full and timely debt service until maturity. Fannie Mae is providing a forward commitment to issue a Guaranteed Mortgage Pass-Through Certificate (MBS) by the MBS Delivery Date Deadline (preliminarily expected to occur on July 26, 2021), which MBS principal and interest are passed through to bondholders monthly. The bonds are subject to mandatory redemption upon failure to acquire the MBS if such MBS Delivery Date Deadline is not extended.
The rating is based on the high credit quality of Fannie Mae and trustee-held investments, sound legal structure of the transaction, and cash flow projections that demonstrate sufficient revenues to pay full and timely debt service until maturity. Fannie Mae is providing a forward commitment to issue a Guaranteed Mortgage Pass-Through Certificate (MBS) by the MBS Delivery Date Deadline (preliminarily expected to occur on July 26, 2021), which MBS principal and interest are passed through to bondholders monthly.
Moody's Investors Service ("Moody's") has upgraded the rating of Cl. 2M-2 from Connecticut Avenue Securities, Series 2014-C04. This transaction is a fixed-severity credit risk transfer (CRT) issued by the Federal National Mortgage Association (Fannie Mae). The rating upgrade is due to the increase in credit enhancement available to the bond and a reduction in the expected losses on the underlying pools owing to strong collateral performance.
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.
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.
U.S. mortgage lenders turned optimistic about profits in the second quarter for the first time in nearly three years as tumbling interest rates led to a jump in demand for home loans, a survey from Fannie Mae showed on Wednesday. The latest figure was a switch from the first quarter when the share of lenders who were pessimistic about future profits exceeded the share of those who were optimistic by 8 percentage point. "This quarter, 'consumer demand' jumped significantly and is now the top reason cited by lenders who reported an increased profit margin outlook, reaching the highest reading since Q2 2016," the mortgage finance agency said in a statement.
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.
Moody's Investors Service has assigned a Aaa rating to the proposed $ 11,750,000 District of Columbia Housing Finance Agency Multifamily Tax-Exempt Mortgage-Backed Bonds (M-TEBS) (Providence Place Apartments Project) Series 2019 A, and has assigned Aaa/VMIG1 rating to the proposed $ 6,550,000 District of Columbia Housing Finance Agency Multifamily Housing Revenue Bonds (Providence Place Apartments Project) Series 2019 B.
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.
Rating Action: Moody's assigns Aaa Ratings to MN Housing's Homeownership Fin. New York, June 10, 2019 -- Moody's Investors Service has assigned Aaa ratings to the proposed $14 million of Minnesota Housing Finance Agency ("Minnesota Housing" or the "Agency") Homeownership Finance Bonds, 2019 Series E (Non AMT) (Mortgage-Backed Securities Pass-Through Program) and $32 million 2019 Series F (Taxable) (Mortgage-Backed Securities Pass-Through Program) (the "2019 Bonds"). The Aaa ratings on all outstanding Homeownership Finance Bonds have also been maintained.
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.
WASHINGTON , May 31, 2019 /PRNewswire/ -- Fannie Mae's (OTCQB: FNMA) April 2019 Monthly Summary is now available. The monthly summary report contains information about Fannie Mae's monthly and year-to-date ...