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.
The fiscal condition at the government agency is much healthier today than when the Department of Housing and Urban Development put the policy into effect back in 2013.
Activity from smaller mom-and-pop investors dominates the segment, but their impact on overall housing prices might be overstated, Corelogic's research found.
Flood insurance could hold up some home sales and lending, while major bank regulatory agencies will remain funded even if the government is unable to pass the necessary legislation before funding runs out.
The Federal Housing Administration is suggesting servicers get early access to the funds they have advanced at a time when many T&I payments have been high.
A borrower alleges the bank made billions of dollars in profit off millions of dollars in rate lock extension fees it wrongly charged mortgage customers.
Boomer wealth surged by $19 trillion in just under five years, with approximately half coming from home equity, according to new Freddie Mac research.
