Cap Markets

After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.

Mid-Southern Bancorp could use proceeds to make more loans or to pursue acquisitions.

An affiliate of the private-equity firm Angel Oak is packaging bank-issued sub debt to minimize risk for bondholders. It recently completed its first securitization and has plans to issue two deals a year.

The company said it could raise up to $25 million through the initial public offering.

Are American college students using their student loan dollars wisely? A LendEDU study explored how those funds are spent.

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion.

The Alabama company will enter Sarasota, Fla., after buying Premier for $52 million.

The $6 million acquisition will add four businesses with a total of $700 million in assets under management.

Gulfside Bank, which would be based in Sarasota, is angling to become southwest Florida's first new bank in a decade.