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mortgage-backed securities (MBS)

Ginnie Mae Guarantees $21 Billion-Plus in MBS in February

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Ginnie Mae announced that it guaranteed $21.25 billion in mortgage-backed securities (MBS) in February 2014. “Ginnie Mae continues to provide stability to the U.S. housing finance system, during both times of crisis and recovery,” said Ginnie Mae President Ted Tozer. “Our Issuers recognize that our product provides flexibility to respond to market change and consistency rooted in transparency, accountability and standardization.”Click to continue

FHFA Reaches $885 Million Agreement With Credit Suisse Over MBS

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The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, announced that it has reached a settlement with Credit Suisse, related companies and specifically named individuals for $885 million. The settlement resolves all claims in the lawsuit FHFA v. Credit Suisse, et al. as well as all claims against the Credit Suisse defendant in FHFA v. Ally Financial Inc., et al. alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac during 2005-2007.Click to continue

HSH.com: Mortgage Rates Begin Downward Trend

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Rates on the most popular types of mortgages backed down this week according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by six basis points (0.06 percent) to 4.37 percent. Conforming 5/1 Hybrid ARM rates decreased by four basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.08 percent.Click to continue

Ginnie Mae Guarantees Nearly $23 Billion in MBS in January

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Ginnie Mae announced that it guaranteed $22.93 billion in mortgage-backed securities (MBS) in January 2014. More than $21.18 billion in Ginnie Mae II securities were issued in January, while issuance of Ginnie Mae I securities totaled $1.41 billion. In addition, Ginnie Mae guaranteed $1.41 billion in multifamily securities in January. Click to continue

White Paper Argues Value of Residential Whole Mortgage Notes

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Stocks may be overvalued and bonds are vulnerable to rising interest rates, but there’s another alternative that provides income, total return potential and relative principal stabilit—residential whole mortgage notes. Vertical Capital Markets Group CEO Gus Altuzarra and Vertical Fund Group President Christopher Chase explain this evolving asset class in a new white paper, The Case for Residential Whole Mortgage LoansClick to continue

Ginnie Mae Guarantees $22 Billion-Plus in MBS in December

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Ginnie Mae has announced that it has guaranteed $22.31 billion in mortgage-backed securities (MBS) in December 2013. In addition, the value of Ginnie Mae I multifamily pools increased from $1.16 billion to $1.58 billion.Click to continue

Hope for a New Year

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Well after months and months of speculation, the Federal Reserve Board last month finally announced the start of their "tapering" program in which they will reduce the amount of their purchases of government and mortgage-backed securities (MBS) by $10 billion per month. Starting in January, the Fed will purchase $75 billion dollars monthly instead of $85 billion dollars. This program was instituted during the financial crisis both to keep long-term rates lower and provide some stability in a mortgage market which was devastated by the crisis.Click to continue

Amid News of Government Tapering, Mortgage Rates Begin to Climb to 4.52 Percent

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Rates on the most popular types of mortgages nudged higher this week according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by two basis points (0.02 percent) to 4.52 percent. Conforming 5/1 Hybrid ARM rates increased by just a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.19 percent.Click to continue

Ginnie Mae Reports Slight Decrease in Annual Revenue

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Ginnie Mae has reported Fiscal (FY) 2013 revenues of $1.225 billion, down slightly from $1.246 billion in 2012. Net income reached $628.4 million in FY 2013, up from FY 2012 net income of $609.6 million. Retained earnings continued to grow, rising to nearly $17.0 billion from $16.4 billion. Ginnie Mae guaranteed $460.4 billion in mortgage-backed securities (MBS) in FY 2013, the highest rate of issuance in the corporation’s 45-year history. The corporation has an outstanding MBS balance of $1.457 trillion.Click to continue

Ginnie Mae Announces $25 Billion-Plus in MBS During Month of November

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Ginnie Mae announced that it guaranteed $25.7 billion in mortgage-backed securities (MBS) in November 2013. More than $24 billion in Ginnie Mae II single-family pools were issued in November, while issuance of Ginnie Mae I single-family pools totaled $515 million. In addition, Ginnie Mae issued $1.16 billion in multifamily MBS in November. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Securities (HMBS), included in Ginnie Mae II single-family pools, was $878 million.Click to continue