|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.9400 - 3.2000|
|52 Week Range||0.9800 - 4.0400|
|Beta (5Y Monthly)||2.04|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.33|
Yahoo Finance Correspondent Julia La Roche joins DoubleLine's Andrew Hsu, the co-portfolio manager of the DoubleLine Total Return Bond Fund, to discuss the future of Fannie Mae and Freddie Mac, opportunities in structured products, and infrastructure. The $150 billion DoubleLine Capital will celebrate its 10th anniversary this month.
MCLEAN, Va., Dec. 13, 2019 -- Freddie Mac (OTCQB: FMCC) announces the pricing of the SB69 offering, a multifamily mortgage-backed securitization backed by small balance loans.
MCLEAN, Va., Dec. 13, 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 a white paper with three case studies examining markets identified as high opportunity areas by state governments, and how these markets foster opportunity for residents by providing access to education, jobs, health care, and transportation. Freddie Mac’s research analyzes properties in San Francisco, Baltimore and Minnesota’s Twin Cities markets, and explores replicable financing approaches used by these properties that can be leveraged in other markets to create and preserve affordable housing across the country. “States have a significant degree of discretion in how they allocate Low-Income Housing Tax Credits (LIHTC) based on their Qualified Allocation Plans (QAPs),” said Steve Guggenmos, vice president of Multifamily Research and Modeling at Freddie Mac.
Moody's Investors Service, ("Moody's") has assigned provisional ratings to 34 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-INV3. JPMMT 2019-INV3 is the sixteenth prime jumbo transaction of 2019 issued by J.P. Morgan Mortgage Acquisition Corporation (JPMMAC) and the third JPMMT transaction in 2019 backed by 100% investment property loans. The certificates are backed by 1,049 fully-amortizing (20, 25 and 30-year term) fixed-rate investment property mortgage loans with a total balance of $388,315,530 as of the December 1, 2019, cut-off date.
In an industry first, Freddie Mac (FMCC) has priced a new offering of Structured Pass-Through Certificates (K Certificates), which includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate (SOFR). The approximately $765 million in K Certificates (K-F73 Certificates) are expected to settle on or about December 20, 2019. The K-F73 Certificates are backed by floating-rate multifamily mortgages with 10-year terms, which are currently LIBOR-based.
Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.73 percent, ticking up from last week. “With Federal Reserve policy on cruise control and the economy continuing to grow at a steady pace, mortgage rates have stabilized as the market searches for direction,” said Sam Khater, Freddie Mac’s Chief Economist.
Freddie Mac (FMCC) today announced that it has launched an automated eNote certification solution for third-party eNote custodians, which includes a system-to-system integration from Freddie Mac’s Loan Selling Advisor®. The solution provides a seamless, one-stop shop for custodial needs, while also delivering risk management and eNote process efficiency benefits to loan Sellers and Servicers. “The ability to integrate with third-party eNote custodians for automated eNote certification is a digital needle mover for Freddie Mac eMortgage Sellers and Servicers,” said Samuel E. Oliver III, vice president, Single-Family Major Projects at Freddie Mac.
MCLEAN, Va., Dec. 11, 2019 -- Freddie Mac (OTCQB: FMCC) today released a white paper detailing the important role green improvements play in preserving affordable, workforce.
MCLEAN, Va., Dec. 09, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
(Bloomberg Opinion) -- Thirty years is a very long time.Over three decades, economic conditions will change and change again. And so, in all likelihood, will a person’s circumstances. You might buy a house and then, a decade later, lose your job. Or you might gain a windfall and decide to move to a bigger, better home. Who can know what’s in store over that span of time?Which is why the 30-year fixed-rate mortgage is such an unusual loan. Banks in other countries(1) don’t offer 30-year fixed mortgages, because they entail too much risk: interest rate risk, prepayment risk and, gravest of all, credit risk — meaning the possibility that the borrower will default. In the U.S., by contrast, the 30-year fixed mortgage is such a staple that nearly 90% of Americans who apply for a home loan want one.I suspect you already know what makes the 30-year fixed mortgage possible in the U.S.: Those infamous “government sponsored enterprises,” Fannie Mae and Freddie Mac,(2) publicly traded companies created by Congress to help make housing more available to middle-class Americans. Fannie and Freddie accomplish this by doing three things. First, they buy up mortgages from banks, thus freeing up capital so that banks can write yet more mortgages — and help more people gain the American Dream of homeownership.Second, they bundle mortgages into bonds, and sell them to investors (hence the term “mortgage-backed securities”). Finally, they assume the credit risk for the securitized mortgages they bundle. That is, they guarantee those mortgages against the possibility of a default. Without that guarantee, the 30-year fixed mortgage simply wouldn’t exist. No bank would be willing to assume that risk themselves.For the past 11 years, Fannie and Freddie have been in “conservatorship” — wards of the U.S. government. They were taken over by the Treasury Department in September 2008, nine days before the bankruptcy of Lehman Brothers Holdings Inc. Having foolishly — and belatedly — jumped into subprime mortgages, Fannie and Freddie were facing big losses. Then-Treasury Secretary Henry Paulson feared that if they collapsed, the entire U.S. housing market would collapse along with them.Ever since, policy makers in Washington have called for a reduction in the role of the federal government, saying that taxpayers shouldn’t be on the hook if Fannie and Freddie falter again. Indeed, many Republicans believe that Fannie and Freddie should be killed off entirely, and that housing finance should be in private hands. The big banks, irked by the power Fannie and Freddie had for decades over the securitization market, have also agitated for a diminished role for the GSEs.Sure enough, in 2013, President Barack Obama called for Fannie and Freddie to be wound down, and for the federal role in the mortgage market to be minimized. More recently, the current Treasury Department unveiled a plan that would solve the Fannie-Freddie issue in a different way. It wants to privatize the two companies and eliminate the guarantee, while also imposing a slew of new regulatory controls to prevent another taxpayer bailout like the one that took place in 2008. (The Trump administration plan is still pretty vague.)To which I can only ask: What’s the point?What spurs this thought is the news, which the Wall Street Journal broke a few weeks ago, that a number of major institutional investors, including BlackRock Inc. and Fidelity Investments, had met over the summer with administration officials to plead with them not to do away with the guarantee. The investors said that “any move to privatize Fannie and Freddie should include an explicit guarantee of the $5 trillion in mortgage-backed securities they issue, according to people familiar with the matter,” the Journal wrote.The fact that these big investors felt strongly enough to meet with the White House suggests a cold, hard truth: For all the talk about minimizing the federal role, the housing market simply cannot function without that federal guarantee. And only Fannie and Freddie are in a position to supply it.Here’s another question: Why do you think Fannie and Freddie remain in government control, even though every Treasury secretary since Timothy Geithner has vowed to end the conservatorship? One reason is that, try as they might, government officials simply haven’t been able to devise a way to maintain the 30-year fixed mortgage without Fannie and Freddie. Another is that ever since the financial crisis, Fannie and Freddie have single-handedly (double-handedly?) kept the housing market alive.It’s true, as its critics say, that the government had to hand the two companies $187 billion to keep them afloat. (This was in part because they were so thinly capitalized.) But once they recovered, they paid back $250 billion, giving the government a healthy return. (It was not such a good deal for Fannie and Freddie’s shareholders; that $250 billion was profit the government claimed for itself.)What Fannie and Freddie have mostly lost these past 11 years is the power they once had over the other players in the market. If the banks had wanted to play a bigger role during that time, the GSEs couldn’t have stopped them. But they didn’t — because they needed that guarantee.Any objective observer, I think, would have to concede that Fannie and Freddie have done a very good job since the 2008 crisis. They’ve done so without worrying about shareholders, or market share, or year-over-year profit gains. What got Fannie and Freddie in trouble was not the government mandate, but their public company impulses. In the years before the crisis hit, they abandoned their historically sound underwriting standards because they were losing market share to the mortgage originators that were writing all those subprime loans that came a cropper when the bubble burst. As government wards, Fannie and Freddie no longer have any incentive to act foolishly.So I ask again: What’s the point? Why does the government continue to try to wind down Fannie and Freddie, or privatize them, or whatever, when they’re working just fine the way they are? If Fannie and Freddie are going to supply a government guarantee on mortgages, they might as well be part of the government. Letting them loose is only going create temptations — and unduly complicate the housing finance system.They say that if it ain’t broke, don’t fix it. Conservatorship or not, Fannie Mae and Freddie Mac ain’t broke.(1) The only other country I know of that offers a 30-year fixed mortgage is Denmark.(2) Fannie Mae’s official name is the Federal National Mortgage Association. Freddie Mac’s is the Federal Home Loan Mortgage Corp.To contact the author of this story: Joe Nocera at email@example.comTo contact the editor responsible for this story: Stacey Shick at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Mortgage rates were flat in the last week. That’s unlikely to be repeated, however, with the FED in action on Wednesday and Trump every present.
Mortgage rates didn’t budge much over the last week amid mixed signals as to the economy’s strength as the holiday season kicked into full drive. The 30-year fixed-rate mortgage averaged 3.68% during the week ending Dec. 5, unchanged from the previous week, Freddie Mac (FMCC) reported Thursday. Compared to a year ago, mortgage rates were more than a full percentage point lower.
MCLEAN, Va., Dec. 06, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are backed by underlying.
Fannie Mae (FNMA/OTCQB) and Freddie Mac (FMCC/OTCQB) today jointly announced the appointment of Anthony N. Renzi as Chief Executive Officer (CEO) of Common Securitization Solutions, LLC (CSS), effective December 2, 2019. Mr. Renzi succeeds David Applegate who announced earlier this year that he would be stepping down as CSS CEO by year-end.
Moody's Investors Service ("Moody's") has assigned definitive ratings to 18 classes of residential mortgage-backed securities (RMBS) issued by Provident Funding Mortgage Trust 2019-1 (Provident 2019-1). Provident 2019-1 is the first transaction entirely backed by loans originated by the sponsor, Provident Funding Associates, L.P. (Provident Funding). Provident 2019-1, a common law trust formed under the laws of the State of New York, is a securitization of agency-eligible mortgage loans originated and serviced by Provident Funding, a California limited partnership (corporate family rating B1; senior unsecured B2) and will be the first transaction for which Provident Funding is the sole originator and servicer.
Releasing the GSEs from conservatorship too soon might impact the economy, says one of DoubleLine's top fund managers.
Rating Action: Moody's assigns Aaa rating to MN HFA's Homeownership Fin. New York, December 05, 2019 -- Moody's Investors Service has assigned a Aaa rating to the proposed $54 million of Minnesota Housing Finance Agency's ("Minnesota Housing" or the "Agency") Homeownership Finance Bonds, 2019 Series H (Mortgage-Backed Securities Pass-Through Program) (the "2019 Bonds"). The Aaa ratings on all outstanding Homeownership Finance Bonds have also been maintained.
MCLEAN, Va., Dec. 05, 2019 -- Freddie Mac (OTCQB: FMCC) recently priced a K-C Series offering of Structured Pass-Through Certificates (K Certificates), which are multifamily.
MCLEAN, Va., Dec. 05, 2019 -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage.
The Federal Housing Finance Agency has raised the maximum conforming-loan limit to as high as $765,600 in some markets.
Freddie Mac (FMCC) released a Duty to Serve white paper detailing how unique financing structures allowed for affordable rents in the high-cost metro areas of Honolulu, Hawaii; San Jose, California; and Portland, Oregon. The three properties studied are in high opportunity areas, which offer unique social and economic benefits to residents but are often constrained by high land and construction costs, lack of buildable land and zoning restrictions.