Hudson City Bancorp Inc., Paramus, N.J., earned $84 million in the third quarter, in what its top executive called a “difficult environment facing portfolio lenders.”
The bankruptcy of MF Global Holdings Ltd. and its ensuing suspension as a primary dealer shook the larger market Monday morning, putting downward pressure on rate-indicative bond yields.
Fannie Mae Monday morning confirmed to National Mortgage News that its multifamily unit is the subject of an Inspector General probe being conducted by the Federal Housing Finance Agency.
Bank of America, which has vowed to reduce its overall risk in mortgages, is close to completing the sale of a $50 billion package of Freddie Mac mortgage servicing rights, according to advisors close to the deal.
Bank of America is working “very hard” on a short sale-to-lease program for distressed borrowers who don’t qualify for government-backed refinance programs.
Rep. Scott Garrett unveiled a reform plan on Thursday designed to draw the private sector back to the secondary-mortgage market after troubled Fannie Mae and Freddie Mac are eventually terminated.
During the first nine months of the year Fannie Mae issued $16.7 billion of multifamily MBS, already surpassing its volume for all of last year.
