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Capital markets

Rocket debt extended as Mr. Cooper deal moves toward closing

Capital markets, M&A, Originations, Rocket Mortgage, Servicing /

The majority of Rocket holders with senior debt that’s part of the tender offer and exchange related to the Mr. Cooper acquisition approved it, and the expiration was extended Tuesday. This suggests the pending deal, which recently received a key conditional approval from the regulator of large government-related mortgage investors, will move toward closing. Rocket […]

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Former FHFA official seeks to empower local leaders

Capital markets, CAREER & COMPENSATION, Career moves, Politics and policy /

Antonio White built his career in high-level Washington-related posts he held at the Federal Housing Finance Agency, Treasury, Bank of America and the Bill and Melinda Gates Foundation. But he got there through the work and connections he built growing up around Route 480 in Cleveland. That’s why White is starting a business called 480

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Fannie, Freddie’s stress test losses ease from 2024

Capital markets, Fannie Mae, Freddie Mac, Politics and policy, Risk management, Secondary markets /

Fannie Mae and Freddie Mac look like they would hold up better in a severe downturn today than their collective stress tests indicated in 2024. The tests modeled how they’d fare after absorbing losses like a total $36.1 billion provision in net chargeoffs plus foreclosed property expenses. That shows the credit losses they’d be likely

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Experts weigh Fannie-Freddie merger prospects

Capital markets, Fannie Mae, Freddie Mac, M&A, Politics and policy, Secondary markets /

Hedge fund billionaire Bill Ackman is fueling more speculation about President Trump’s suggested Fannie Mae-Freddie Mac merger this fall, but experts debate the near-term benefits.  The Pershing Square Capital Management CEO linked the concept to President Trump’s Truth Social post depicting a public offering for a single entity, citing the potential for a government-sponsored enterprise

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Selene Holdings’ Doug Whittemore on scale, cost, niche loans

Selene Holdings’ Doug Whittemore on scale, cost, niche loans

Capital markets, Career moves, LOAN PRODUCTS, Servicing /

Since taking on responsibility for all Selene Holdings’ business lines earlier this year, Chief Strategy and Growth Officer Doug Whittemore has been focused on product development and scale by drawing on his 25 years of bank and nondepository experience. Whittemore — who previously led teams at U.S. Bank, JPMorgan Chase, Mr. Cooper and Citibank —

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President Trump envisions November launch for mortgage IPO

Capital markets, Fannie Mae, Freddie Mac, GSE Reform, GSEs, Politics and policy, Secondary markets /

The oversight agency for two government-sponsored enterprises sent out an image from President Trump over the weekend depicting a public offering for some of their shares near term but experts question the timing. The illustration from President Trump’s Truth Social post, like some others he’s posted around his policy initiatives, is designed to depict an

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Why there’s renewed interest in financing factory-built homes

Capital markets, LOAN PRODUCTS, Originations, Politics and policy, REALTORS & HOMEBUILDERS, Secondary markets /

Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing

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Angel Oak bets on non-QM in volatile Q2 report

Capital markets, Earnings, Secondary markets /

Angel Oak Mortgage REIT eked out a profit in the second quarter but missed Wall Street expectations partially due to a note offering.  The non-qualified mortgage player Tuesday reported net income of $767,000 for the period, well below an S&P Capital IQ consensus mean estimate of $6.34 million. The real estate investment trust’s quarterly results

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Ginnie Mae executive Joe Gormley nominated as president

Ginnie Mae executive Joe Gormley nominated as president

Capital markets, Ginnie Mae, Secondary markets, Servicing /

Ginnie Mae, a government corporation with the Department of Housing and Urban Development that protects funding for many U.S. mortgage loans, finally has a nominee for its long-vacant post of president. The Senate received the nomination of Joseph Gormley as Ginnie Mae president over the weekend and referred it to the Committee on Banking, Housing

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Weak jobs data boosts odds of mortgage rate drop

Capital markets, Economic news, Mortgage Rates, Originations /

Overall employment numbers fell below what the market anticipated, with 73,000 July job additions compared to estimates for 104,000, making it more likely that a mortgage rate drop is nigh and that industry hiring may escalate. Bond market reaction to the Bureau of Labor Statistics data could lower long-term mortgage rates near term, according to

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