DLJ Mortgage Capital Inc. was the winning bidder on all four pools in Fannie Mae's
The sale consisted of 7,508 loans with an unpaid principal balance of $1.6 billion. The average loan size was $215,808, with a weighted average note rate of 4.1% and a weighted average broker's price opinion loan-to-value of 103.6%.
The cover bid for the entire transaction was 87% of the unpaid principal balance.
The transaction is expected to close on May 25.
Even as home equity withdrawals hit a two-year high, utilization rate remained less than half of normal, ICE Mortgage Technology said.
Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.
The joint venture with Smith Douglas Homes will expand Loandepot's market presence in states including Georgia, Alabama and Texas.
Flueid, which provides verification of title services, has raised $8.3 million of new capital, with lead investor LiveOak Ventures along with Gilbert's Detroit Venture Partners.
Mortgage professionals are focusing on housing policies and the Federal Reserve this November.
Esusu, Foyer, Divvy Homes and Tomo Mortgage are among the fintechs trying to give first-time homebuyers a break, alongside community development financial institutions like Southern Bancorp.
