Secondary markets

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.

Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?

The French banking giant will lower its stake in First Hawaiian below 20% when the secondary offering is completed.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete.

Capital One Financial Corp. plans to repurchase shares following the sale of $17 billion in mortgages to a Credit Suisse subsidiary.

Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period.