The road to reforming Fannie Mae and Freddie Mac took another left turn this week with Treasury Secretary Steve Mnuchin applauding Congressional efforts on the initiative but then declaring, if need be, Treasury would go it alone.
BB&T Corp. and SunTrust Banks late in the week unveiled plans to merge in a deal valued at $66.0 billion, one that will create, pro forma, the nation’s ninth-largest home originator as well as the ninth-largest servicer.
It didn’t really matter much what part of the mortgage market lenders focused on in late 2018, production fell by roughly equal degrees in the major product groups, according to an exclusive new Inside Mortgage Finance analysis. [Includes two data charts.]
The Mortgage Bankers Association has published a primer to help commercial and multifamily lenders in the impending transition away from the London Interbank Offered Rate to an alternative rate index.
Elliott Management Corp., considered one of the largest activist funds in the world, is eyeing non-qualified mortgage securitizer Deephaven Mortgage for a possible acquisition, sources familiar with the matter told Inside MBS & ABS.
Approval of new MBS issuers by Ginnie Mae fell drastically in 2018. Data provided by the agency showed that only eight out of 28 applications received last year were approved. In the year before, Ginnie approved 22 out of 31 applications.
In a bid to expand its access to rental housing credit, Redwood Trust last week announced plans to partner on a deal to acquire up to $1 billion in whole loans from Freddie Mac.
Several high-profile civil rights groups this week threw cold water on Sen. Mike Crapo’s plan to reform Fannie Mae and Freddie Mac, saying it would weaken regulation of the government-sponsored enterprises and increase the cost of homeownership.
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