Freddie Mac has announced that it is closing the book on a temporary exchange offer used to make uniform trades of to-be-announced mortgage-backed securities possible several years ago. Processing Content The decision follows the reduction in the size of the market for older bonds that predated the arrival of UMBS in 2019. Around $1.5 trillion […]
Freddie Mac ending exchange offer used to create UMBS Read More »
California Attorney General Rob Bonta’s office countered a lawsuit from lenders this week, arguing a new zombie seconds law doesn’t bar certain foreclosures outright.Eric Lee/Bloomberg Lenders are raising a host of arguments to halt California’s new zombie seconds law, which they say will freeze the secondary mortgage market. Processing Content The California Mortgage Association and
California law hurts secondary mortgage market, lenders say Read More »
Key insight: A few days after the OCC approved Comerica’s blockbuster sale to Fifth Third, the seller made an amended regulatory disclosure that provides more details about how the deal came together. What’s at stake: The $10.9 billion deal is the largest bank acquisition announced in 2025. Forward look: The deal still needs approval from
Comerica gives fuller account of Fifth Third deal talks Read More »
Congress has passed a bill giving taxpayers who have been affected by natural disasters some extra time to file a claim for a tax credit or refund. Processing Content The bipartisan bill, known as H.R. 1491, the Disaster Related Extension of Deadlines Act, was sponsored by Rep. Gregory Murphy, R-North Carolina, and Jimmy Panetta, D-California,
Congress passes law to extend tax deadlines after disasters Read More »
Key insight: The Federal Reserve is loosening its reins on crypto activities allowed for banks, with particular attention paid to noninsured state-chartered banks. What’s at stake: Custodia, a special purpose depository institution, has been engaged in a lawsuit against the Fed over the central bank’s denial of Custodia’s application for a master account. Expert quote: “I cannot agree
Fed rescinds Biden-era crypto guidance Read More »
Andrea Joy Campbell, attorney general of the Commonwealth of Massachusetts, at a forum in Boston, Massachusetts. Photographer:Mel Musto/Bloomberg Rithm affiliate Newrez has entered into a settlement with Massachusetts Attorney General Joy Campbell that resolves allegations related to its status as a successor by merger to Specialized Loan Servicing. Processing Content “This settlement resolves a several-years-old
Newrez settles SLS allegations with state attorney general Read More »
A House of Representatives committee advanced a piece of legislation Wednesday aimed at addressing affordability issues in the housing market. Processing Content A markup of the bipartisan Housing for the 21st Century Act was passed, 50-to-1, by the House Financial Services Committee, setting up a potential floor vote early next year. The committee also unanimously
House advances markup set to improve housing affordability Read More »
Mortgage rates largely held steady over the past seven days despite the latest Federal Reserve decision to cut, exhibiting many of the same trends they’ve shown over the past several weeks. Processing Content The 30-year fixed-rate average came in at 6.21% on Dec. 18, according to Freddie Mac’s Primary Mortgage Market Survey. The number inched
Mortgage rates flatline following recent Fed cut Read More »
President Donald Trump looked to reassure Americans concerned about the rising cost of living by announcing plans to award a special holiday payment to military service members and roll out new housing reforms in the new year. Processing Content Trump announced the plans Wednesday during a prime-time address from the White House, which he used
Trump announces military ‘warrior dividend,’ housing reform Read More »
Data showing US inflation cooled at a startling clip last month ignited stock and bond markets, bolstering bulls with prospects for more decisive Federal Reserve rate cuts in 2026. Bitcoin rallied. Processing Content Despite numerous caveats surrounding another high-profile report impacted by the government shutdown, traders welcomed the slowest increase in consumer prices since early
Wall Street gets relief rally after CPI surprise Read More »