Mortgage giant Freddie Mac [stock FRE][/stock] late last week announced it settled the offering Series K-003 Structured Pass-Through Certificates, or K Certificates.
The offered certificates consist of multifamily mortgage-backed securities composed of mortgages originated through Freddie's Capital Markets Execution. The dealer managers in the transactions, led by Deutsche Bank Securities, offered the certificates to a number of investors including money managers, life insurance companies and pension funds.
The economy will continue to experience slow economic growth this year and into early 2009, according to a press statement Tuesday afternoon from the Economic Advisory Committee of the American Bankers Association.
"Although the tax rebates are providing some near-term lift to spending, households will continue to face a multiplicity of negative forces, including energy and food prices, restrained credit conditions and declining home prices," said Peter Hooper, chair of the committee and chief economist, Deutsche Bank Securities in New York.
Continuing a run that led excess returns of MBS over Treasuries to post their best month in over 10 years during April, U.S. mortgage-backed securities continued to tighten against Treasuries on Wednesday -- despite news of a large loss by Fannie Mae [stock FNM][/stock]. The trend is likely to mean better mortgage rates for conforming borrowers, sources told Housing Wire Thursday.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More