Secondary markets

Octaura, an electronic portal backed by seven global banks, completed its first syndicated loan trades earlier this month.

The breaks for some lower-income borrowers are welcomed, but the use of debt-to-income as a differentiator could complicate originations at a challenging time, lenders say.

Updates will become effective on May 1 and a uniform mortgage-backed securities fee reduction will begin on April 1.

The final rule also orders the government-sponsored enterprises to give advance notice of new activities to determine if they are subject to these procedures.

The increased limit on the size of the mortgages the government-sponsored enterprises will be able to buy reflects the year-over-year change in home prices.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

Both sides in the litigation over 2012 Federal Housing Finance Agency amendments to stock purchase agreements say they're weighing their options.

The Fed chair said actively selling securities will become necessary as it looks to reduce its balance sheet, but not anytime soon.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

The government-sponsored enterprises will start releasing information similar to what large banks already do, starting in the first quarter of 2023.

The banks have reportedly facilitated trades of Russian sovereign and corporate debt. Two Democrats in Congress want more information, saying that the dealings, though legal, may undermine efforts to hold Russian President Vladimir Putin accountable for the invasion of Ukraine.

The move confirms speculation that the Federal Housing Finance Agency would return to a pre-pandemic plan to tighten requirements for mortgage lenders and servicers that work with two government-sponsored enterprises.

Home valuation professionals have had mixed feelings about automation out of concern that some forms could result in less accurate assessments.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.

The mortgage giant’s net worth of $42 billion at the end of the quarter was more than double what it was a year earlier. CEO Hugh Frater said that financial strength puts the company on better footing to support affordable housing goals outlined by the Federal Housing Finance Agency.

The combined refinance and purchase total was nearly double the average quarterly volume logged before the pandemic, the company said in its third-quarter earnings call.

The company will return to selling pieces of its credit exposure to private investors during the last three months of the year, but is still evaluating its strategy for 2022.

The home purchase target for Fannie Mae and Freddie Mac would set a new 10% benchmark for qualified single-family lending in census tracts that meet certain demographic and income targets.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.