Mortgage industry of the United States

Farmer Mac to Announce Second Quarter 2021 Financial Results

Retrieved on: 
Monday, July 26, 2021
Telecommunications, Mortgage industry of the United States, It's Always Sunny in Philadelphia characters, Mac, Conference call, Federal Agricultural Mortgage Corporation, AGM

WASHINGTON, July 26, 2021 /PRNewswire/ --The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced that it will release its financial results for the fiscal quarter ended June 30, 2021, on Thursday, August 5, 2021, after the closing of equity markets.

Key Points: 
  • WASHINGTON, July 26, 2021 /PRNewswire/ --The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced that it will release its financial results for the fiscal quarter ended June 30, 2021, on Thursday, August 5, 2021, after the closing of equity markets.
  • A conference call to discuss the results will be held that day at 4:30 p.m. eastern time.
  • The conference call can be accessed by telephone or webcast as follows:
    When dialing in to the call, please ask for the "Farmer Mac Earnings Conference Call."
  • More information about Farmer Mac is available on Farmer Mac's website at www.farmermac.com .

Common Securitization Solutions Names Kelly Isikoff Chief Information Security Officer

Retrieved on: 
Monday, July 26, 2021
Mortgage industry of the United States, United States housing bubble, Finance, Structured finance, Money, Economy of the United States, Mortgage-backed security, Fannie Mae, Securitization, Freddie Mac

BETHESDA, Md., July 26, 2021 /PRNewswire/ --Common Securitization Solutions (CSS) announced today that Kelly Isikoff has joined the firm as Chief Information Security Officer (CISO) effective today.

Key Points: 
  • BETHESDA, Md., July 26, 2021 /PRNewswire/ --Common Securitization Solutions (CSS) announced today that Kelly Isikoff has joined the firm as Chief Information Security Officer (CISO) effective today.
  • "CSS is thrilled to welcome Kelly Isikoff to our Technology leadership team," said Susan Gueli, Chief Technology Officer and Executive Vice President.
  • "Kelly brings an impressive blend of deep technical skill, practical business focus, and strong security expertise to CSS."
  • COMMON SECURITIZATION SOLUTIONS, LLC : Common Securitization Solutions (CSS) enables issuance of the largest segment of mortgage-backed securities the Uniform Mortgage-Backed Security by Fannie Mae and Freddie Mac helping support liquidity in the nation's housing finance markets.CSS does this through the Common Securitization Platform, the largest and most advanced securitization operation in the nation, which processes more than$400 billionin mortgage securities each month.

Emclaire Financial Corp Reports Earnings for Second Quarter 2021

Retrieved on: 
Friday, July 23, 2021
Mortgage industry of the United States, Paycheck Protection Program, United States responses to the COVID-19 pandemic, Federal Home Loan Banks, Mortgage loan, Subprime mortgage crisis, Economy

During the quarter, deposit volumesreached a record high and we saw consumer spending and loan demand increase toward pre-pandemic levels.

Key Points: 
  • During the quarter, deposit volumesreached a record high and we saw consumer spending and loan demand increase toward pre-pandemic levels.
  • During the three months ended June 30, 2021, the Corporation recognized $361,000 of interest income related to the PPP loans.
  • Criticized and classified loans increased $200,000during the quarter ended June 30, 2021to $43.0million, or 3.9%, of total assetsfrom $42.8 million, or 4.0%, of total assets at March 31, 2021.
  • During the quarter ended June 30, 2021, the Corporation sold $5.3million of residential mortgage loans to the FHLB and realized a net gain of $100,000.

Freddie Mac Prices $357 Million Sustainability Bonds Offering of Guaranteed Tax-Exempt ML Certificates

Retrieved on: 
Friday, July 23, 2021
Cryptography, Finance, Financial markets, Structured finance, Mortgage industry of the United States, Key management, Public key infrastructure, Public-key cryptography, Public key certificate, Freddie Mac, Credit enhancement, Mortgage-backed security

The Class A-US Certificates are senior principal and interest certificates, which are rated as AA+(sf) by S&P Global Ratings and the Class X-US Certificates are interest-only certificates.

Key Points: 
  • The Class A-US Certificates are senior principal and interest certificates, which are rated as AA+(sf) by S&P Global Ratings and the Class X-US Certificates are interest-only certificates.
  • The Class A-US and Class X-US Certificates are guaranteed by Freddie Mac.
  • The ML-11 Trust will also issue Class B-US Certificates, which will not be guaranteed by Freddie Mac.
  • ML Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.

Freddie Mac Prices $232 Million in Multifamily Structured Credit Risk Notes

Retrieved on: 
Friday, July 23, 2021
Mortgage industry of the United States, Finance, Freddie Mac, Mortgage loan, Economy of the United States, Money, Fannie Mae, Government policies and the subprime mortgage crisis

The loans adhere to Freddie Mac's multifamily underwriting, internal fraud prevention and quality control standards.

Key Points: 
  • The loans adhere to Freddie Mac's multifamily underwriting, internal fraud prevention and quality control standards.
  • This announcement is not an offer to sell any Freddie Mac securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Horizon Bancorp, Inc. Releases 2nd Quarter 2021 Financial Highlights, Including Net Earnings of $1,383,000 or $0.33 Per Share, Net Loan Growth (Excluding PPP) of $16,652,000, and Improving Asset Quality Metrics

Retrieved on: 
Friday, July 23, 2021
Banking, Professional services, Finance, Systemic risk, Banking in the United States, Mortgage industry of the United States, Economic bubbles, In economics

Earnings were also influenced by a further reduction in cost of funds, net commercial loan growth, and the performance of the government guaranteed loan division.

Key Points: 
  • Earnings were also influenced by a further reduction in cost of funds, net commercial loan growth, and the performance of the government guaranteed loan division.
  • Our primary focus has been on commercial loan production, further reducing the banks cost of funds, and enhancing non-interest income.
  • Credit quality metrics are shown in the following table and reflect improvements quarter over quarter and year over year in nonaccrual loans and nonperforming assets.
  • The bank maintains an ample allowance for loan and lease loss at 1.48% of total outstanding loans, and this is inclusive of PPP.

$7K SNAP Subsidy Helps Cool Off a Texas Home

Retrieved on: 
Friday, July 23, 2021
Residential Building & Real Estate, Banking, Construction & Property, Professional services, Other Consumer, Philanthropy, Seniors, Other Philanthropy, Fund Raising, Consumer, Finance, Federal Home Loan Banks, Mortgage industry of the United States, Conditioning, Air conditioning, Snap, Science and technology, Technology, Engineering, Veritex Community Bank, the Federal Home Loan Bank of Dallas, VERITEX COMMUNITY BANK, THE FEDERAL HOME LOAN BANK OF DALLAS

A $7,000 Special Needs Assistance Program (SNAP) subsidy from Veritex Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) funded the replacement of his air conditioning unit this spring.

Key Points: 
  • A $7,000 Special Needs Assistance Program (SNAP) subsidy from Veritex Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) funded the replacement of his air conditioning unit this spring.
  • View the full release here: https://www.businesswire.com/news/home/20210723005063/en/
    Edward Montemayor received a $7,000 SNAP subsidy from Veritex Community Bank and FHLB Dallas to replace his air conditioning unit.
  • The pair reached out for help when the Texas summer heat made the home unbearably hot without a working air conditioning unit.
  • He asked the neighbor about the SNAP subsidy and called Veritex Community Bank to apply.

New Fed Mortgage Expands Mortgage Lending Into North Carolina

Retrieved on: 
Friday, July 23, 2021
Mortgage industry of the United States, Finance, Money, Economy, Loans, Mortgage loan, Fannie Mae, Mortgage-backed security, United States housing bubble, Subprime mortgage crisis, Mortgage bank, Sun West Mortgage

DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.

Key Points: 
  • DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.
  • New Fed Mortgage President, Brian D'Amico, commented "Our goal is to work one on one with our clients in North Carolina with a hands-on approach throughout every step of the process to help them with the pursuit of home ownership.
  • New Fed Mortgage, an approved Fannie Mae and Freddie Mac seller servicer, is looking to create more lending opportunities in North Carolina with their consumer direct channel to serve the region as well as looking for opportunities with Branch Managers.
  • New Fed Mortgage has specialized in residential retail mortgage lending since 2001.

Freddie Mac Names Jerry Mauricio Senior Vice President and Chief Compliance Officer

Retrieved on: 
Thursday, July 22, 2021
Mortgage industry of the United States, Affordable housing, Freddie Mac, Chief compliance officer, OTC Markets Group, Conservatorship, Economy, Companies, Articles

MCLEAN, Va., July 22, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) today announced that Jerry Mauricio will serve as the companys senior vice president and chief compliance officer (CCO).

Key Points: 
  • MCLEAN, Va., July 22, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) today announced that Jerry Mauricio will serve as the companys senior vice president and chief compliance officer (CCO).
  • Jerrys proven compliance and management expertise in both global and domestic financial services companies makes him an outstanding choice to be Freddie Macs chief compliance officer, said Michael DeVito, CEO of Freddie Mac.
  • As chief compliance officer, Mauricio will oversee and lead Freddie Macs compliance risk management program for the companys regulatory and conservatorship obligations.
  • Prior to joining Freddie Mac, Mauricio served as CCO and senior vice president of Capital One Investing, LLC and Capital One Advisors, LLC.

Motto Mortgage Home Now Open in Hawaii

Retrieved on: 
Thursday, July 22, 2021
Finance, Money, Economy, Mortgage broker, Mortgage loan, Mortgage bank, Mortgage industry of the United States

HONOLULU, July 22, 2021 /PRNewswire/ --Motto Mortgage, an innovative mortgage brokerage franchise focused on transparency and compliance, has a new office in Hawaii, Motto Mortgage Home is now open in Honolulu and serving all markets throughout the Paradise State.

Key Points: 
  • HONOLULU, July 22, 2021 /PRNewswire/ --Motto Mortgage, an innovative mortgage brokerage franchise focused on transparency and compliance, has a new office in Hawaii, Motto Mortgage Home is now open in Honolulu and serving all markets throughout the Paradise State.
  • Established by Thu Nguyen, with extensive experience in finance, Motto Mortgage Home is a customer-first, full-service mortgage brokerage.
  • "Motto Mortgage Home offers an advantageous alternative to the traditional mortgage bankers currently operating in Honolulu," said Nguyen.
  • Motto Mortgage Home is open for business at 729 Ekekla Ave., but currently implementing health precautions to make the mortgage experience as safe as possible for customers and employees.