Hints and tips:
...The Federal Reserve is expected to cut rates, probably beginning in June. The average rate for a 30-year, fixed home mortgage was around 6.63 per cent last week, according to Freddie Mac....
...One thing to start: The Phoenix Suns are on track to set a record price for the sale of a National Basketball Association franchise, with mortgage lending billionaire Mat Ishbia nearing a $4bn deal to acquire...
...The first of these is that most mortgage market people do not believe it is possible to sell Fannie and Freddie mortgage-backed securities without a government “wrap”....
...The average rate on a 30-year fixed-rate mortgage with a loan balance of $453,100 or less was 5.12 per cent for the week ending November 23, compared with 4.23 per cent in January, according to the Mortgage...
...“An important signal to market participants,” nodded Randy Quarles, a governor at the US Federal Reserve....
...But over the past couple of years a group of specialist firms has begun to bring the loans back, navigating a dense web of new rules drawn up to protect borrowers and investors in the $9.3tn US home-loan...
...Home loan originations dipped 3 per cent in the second quarter to $447bn, according to Mortgage Bankers Association estimates....
...Fannie and Freddie stand behind the bulk of US home loans and underpin the country’s unique system of 30-year fixed-rate mortgages....
...Together, Fannie and Freddie guarantee the bulk of US home loans and underpin the country’s unique system of 30-year fixed rate mortgages....
...Shareholders in Fannie Mae and Freddie Mac have two ways to salvage something from their investments in the mortgage insurers....
...On Tuesday, a federal appeals court in Washington ruled to uphold much of the earlier judgment....
...And last year, the Federal Housing Administration cut its mortgage insurance fee so as to save borrowers up to $900 a year....
...The iShares ETF will buy mortgage-backed securities based on a Barclays index, reports Thomas Hale in London....
...“Investors have long memories and remember that mortgage-backed securities blew up in the crisis....
...“The banks are looking at their future loan book and, post Brexit, they can see a decline in new mortgage lending . . . so they don’t need as many deposits, said Warren Mead, a partner at KPMG....
...While loan growth has been solid, rising at about 4 or 5 per cent, capital markets units are not firing on all cylinders....
...The suit argued that banks mis-sold securities by packing them with mortgages to borrowers who had little chance of repaying the loans. Additional reporting by Ben McLannahan...
...from the $9.8tn home loan market....
...Perry, a hedge fund led by founder Richard Perry, and Fairholme, an investment firm led by Bruce Berkowitz, own preferred shares in Fannie and Freddie, which guarantee US mortgages and invest in mortgage-backed...
...At the same time Wells Fargo, the number one mortgage lender in the US, matched analysts’ projections after delivering a 27 per cent increase in home loan volume, to $62bn, from the first quarter....
...The Washington-based institutions guarantee home loans....
...mortgage companies....
...Rising values are pushing up equity in the housing market, with low interest rates helping for those who can qualify for home loans....
...Denise Cote, a senior federal judge on the US district court for the southern district of New York, ruled on Monday that the “offering documents did not correctly describe the mortgage loans”, with the securities...
...There was no seizure of equity, presidential press conference or investor lawsuit but there were $130bn of loan guarantees as the government saved GE Capital....
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