A government-sponsored enterprise oversight agency floated a new strategic plan on Wednesday that includes an emphasis on the supply side of the housing market in one portion of three overarching goals. US Federal Housing will be collecting comments through Nov. 5 on the new plan for its operations, two GSEs it oversees that are in […]
FHFA seeks comment on new strategic plan for GSEs Read More »
Bill Pulte, the head of the oversight agency for Fannie Mae and Freddie Mac, signaled that he will be taking steps to follow up on President Trump’s call for them to put a new focus on home construction companies. One step will involve tracking megabuilders’ business, Federal Housing Finance Agency Director Pulte indicated in an
Pulte hints at how Fannie, Freddie may spur builder activity Read More »
The lingering government shutdown has increased rate uncertainty, and cut off or curtailed some specialized mortgages while mainstream business moves forward, albeit at a slower pace in some cases. “Until key reports like payrolls and the CPI return, rates are likely to remain range-bound but vulnerable to sudden shifts,” said Sam Williamson, chief economist at
Shutdown hampers rates, rural, HECM and niche condo loans Read More »
The potential government shutdown that’s looming this week due to an impasse between political parties in budget negotiations has some new risks for housing. In addition to more typical concerns, an Office of Management and Budget memo issued last week means the usual furloughs could be layoffs that compound the impact of previous public sector
New dangers for housing in looming shutdown: How mortgage lenders can prepare Read More »
The value of government-sponsored enterprises’ Fannie Mae and Freddie Mac stems from their mortgage-market role and experts at a Bipartisan Policy Center event at times took varying stances on what it would take to preserve and protect that position amid reform. The panel’s comments arrived ahead of Federal Housing Finance Agency Director Bill Pulte’s ongoing
Panel eyes GSEs’ guarantee as public offering talks progress Read More »
Flood insurance company Neptune Insurance Holdings Inc.’s shareholders are seeking to raise $368.4 million in a US initial public offering, adding to the flow of insurance firms debuting this year. The St. Petersburg, Florida-based company plans to market 18.4 million shares for $18 to $20 each, according to its filing Monday with the U.S. Securities and Exchange
Flood insurer Neptune’s backers seek $368 million in IPO Read More »
Mergers and acquisitions and private markets will rebound when the next Federal Reserve chair is appointed, according to Marathon Asset Management LP Chairman Bruce Richards. Bringing down financing costs will boost transaction activity, increasing distributions to investors in private equity and making it easier for companies to repay their debts, he said in an interview
Marathon’s Richards sees coming bonanza for LBOs, private credit Read More »
A rapid plunge in U.S. interest-rate volatility is heaping pain on a popular Wall Street approach for hedging against financial market turmoil. In recent years, major banks have been building and selling protective quantitative investment strategies (QIS) tied to long-term expectations for swings in interest rates. The products — systematic trades packaged up as swaps for the
Rates ‘Volmageddon’ hammers Wall Street tail hedge Read More »
Shares of Better Home & Finance Holding Co. soared after Eric Jackson said his hedge fund had bet on the stock, echoing the retail-driven rally he kicked off in Opendoor Technologies Inc. in July. Shares of the online mortgage company known as Better rose as much as 176% on Monday, triggering multiple halts for volatility,
Man behind Opendoor meme rally sparks 176% surge in Better Read More »
Financial technology firm Pacaso has closed on a revolving credit facility it will use to enable sales of 30-year second-home mortgages with co-borrowers into the securitized market. The $100 million facility from Texas Capital Bank will fund Pacaso’s purchases of the mortgages, which have an initial five-year interest-only period. It also will accommodate inclusion of
Pacaso gets funding for non-QM co-borrower securitizations Read More »