Capital markets

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.

A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It's one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried's crypto empire. 

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.

The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.

The senior vice president for capital markets at the Housing Policy Council died Saturday after sustaining critical injuries a week prior.

"Someone somewhere has not taken a victory lap for the work that has been done to rehabilitate the enterprises." Priscilla Almodovar said in a Bloomberg interview.

The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with "must have" products will fare far better in 2024 than those with "nice to have" tools, he says.

Citizens' SVP and director of mortgage secondary and capital markets reflects on what her experience with past cycles suggests about where this one may be headed.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.