Freddie Prices First Lower LTV STACR of 2018. Freddie Mac priced a $900 million Structured Agency Credit Risk debt notes offering last week, its first lower loan-to-value deal of the year. STACR 2018-DNA1 has a reference pool of single-family mortgages with an unpaid principal balance of approximately $34.7 billion. The reference pool includes loans with LTVs ranging from 60 to 80 percent. CoreLogic to Redistribute GSE CRT Data. CoreLogic announced this week that it is redistributing credit risk transfer loan-level data from Fannie Mae and Freddie Mac. The CRT redistribution will include Fannie Mae’s Connecticut Avenue Securities data as well as data from Freddie Mac’s Structured Agency...
Departing Federal Reserve Chair Janet Yellen quietly rode off into the sunset this week, with the Fed’s Open Market Committee deciding to keep interest rates unchanged, as expected. The fed funds target range remains at 1.25 percent to 1.50 percent.
Data initiatives meant to streamline technological innovations and provide better information are actually giving mortgage lenders a hard time. A new report by Fannie Mae showed that 74 percent of lenders agree that attempts to standardize data are needed, but many run into challenges in implementation.
CFPB Senior Advisor John Czwartacki said: “The bureau’s statutory mandate includes the supervision and enforcement of fair lending laws and regulations … the bureau will continue to perform those functions.”
Bill Maloni, a retired Fannie executive who’s been tracking the reform debate for years, believes the Corker bill, if enacted as is, eventually will place the secondary market in the hands of the megabanks.
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