WASHINGTON, April 16, 2024 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) today began marketing its most recent sale of reperforming loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 6,507 loans, having an unpaid principal balance of approximately $1.470 billion, and is available
Homebuyers are feeling whiplashed by surging mortgage rates, and their outlook just turned grimmer. The average rate on the 30-year mortgage increased to 7.37% on Thursday, a steep climb from 7.11% at the beginning of the week, according to Mortgage News Daily. The quarter-point increase comes as rattled investors respond to a hotter than expected
WASHINGTON, March 26, 2024 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its twenty-third Community Impact Pool (CIP) of non-performing loans. The transaction is expected to close on May 22, 2024, and includes 37 loans totaling $10.4 million in unpaid principal balance (UPB). The loans are geographically focused in the New York/New Jersey
For borrowers in a still-hot housing market, getting approved for a mortgage can be a challenge. Mortgage rates have soared from pandemic-era lows, home values are near record highs and home price appreciation is outpacing wage growth. All of that means there’s no guarantee a lender will approve your mortgage application. Here’s a look at
Fannie Mae, a major investor and securitizer of mortgages made in the United States, has launched its first insurance-based credit-risk transfer in 2024, which introduces some changes to the program. For one, the credit-insurance risk transfer deal from Fannie Mae includes an identifier for single-family mortgage pools in certain loan-to-value ratio ranges. The letter “L”
“We changed a couple of things on rates,” the economist said. “We now see mortgage rates coming down ending 2024 just under 6%. Our fourth-quarter number is 5.8%, which is a shift. Previously, we had somewhere in the neighborhood of 6.5%, so that’s a pretty good drop.” Rate cuts depend on a variety of factors
Fannie Mae has announced an update to its HomeReady mortgage product that could save certain borrowers thousands of dollars on upfront homebuying costs – but this offer is only available for a limited time. In a lender letter issued Wednesday, the mortgage giant unveiled a temporary $2,500 credit for low-income homebuyers that can be used