Fannie Mae

National Survey Shows Housing Market Needs Rates Below 5% to Rebound

Retrieved on: 
Thursday, April 4, 2024
Bankrate, National Association, Union, Research, National Association of Realtors, Fannie Mae, Appetite, Renewable energy

Mortgage rates are not projected to fall fast enough or soon enough to meet this threshold, likely putting a real estate rebound on hold until 2025.

Key Points: 
  • Mortgage rates are not projected to fall fast enough or soon enough to meet this threshold, likely putting a real estate rebound on hold until 2025.
  • Another 15 percent (14.18) said that they’ll buy when rates drop to between 5 and 6 percent.
  • Less than 7 percent (6.8) say that rates between 6.1 and 6.5 percent will motivate them to enter the market.
  • While mortgage rates are unpredictable and tied to external factors, most experts are predicting rates to only fall between 5.9 and 6.1 percent.

Colin Grayson Joins Greystone as a Managing Director, Lending

Retrieved on: 
Monday, April 1, 2024
CBRE, Business administration, University, Senior, Freddie Mac, HUD, Fannie Mae

NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Colin Grayson has joined the firm as a Managing Director for its lending business platforms.

Key Points: 
  • NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Colin Grayson has joined the firm as a Managing Director for its lending business platforms.
  • Prior to joining Greystone, Mr. Grayson was a Vice President, Multifamily Originations at Lument for eight years.
  • Mr. Grayson also held positions in the commercial real estate industry at Legacy Partners Residential Development, Inc., and at CBRE.
  • “Colin’s a critical new addition to our Agency lending team, bringing over a decade of expertise and relationships to Greystone,” said Mr. Mejia.

Fannie Mae Announces Sale of Non-Performing Loans

Retrieved on: 
Tuesday, April 9, 2024
CIP, BofA Securities, UPB, OTCQB, Organization, FNMA, Sale, Fannie Mae

WASHINGTON, April 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its latest sale of non-performing loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio, including the company's twenty-fourth Community Impact Pool (CIP). CIPs are typically smaller pools of loans that are geographically focused and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.

Key Points: 
  • The one large pool includes approximately 1,205 deeply delinquent loans totaling $221.9 million in unpaid principal balance (UPB), and the CIP includes approximately 52 deeply delinquent loans totaling $14.5 million in UPB.
  • This sale of non-performing loans is being marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., a woman-owned and -controlled business, as advisors.
  • Terms of Fannie Mae's non-performing loan transactions require the buyer of the non-performing loans to offer loss mitigation options designed to be sustainable for borrowers.
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Households May Finally Be Adjusting to Higher Mortgage Rates

Retrieved on: 
Monday, April 8, 2024
Pessimism, Research report, OTCQB, Housing, FNMA, Optimism, Fannie Mae, Real estate

Thirty-four percent of consumers now believe that mortgage rates will go up over the next 12 months, up from 32 percent last month and more than the 29 percent who believe rates will decline.

Key Points: 
  • Thirty-four percent of consumers now believe that mortgage rates will go up over the next 12 months, up from 32 percent last month and more than the 29 percent who believe rates will decline.
  • However, consumers took a slightly more pessimistic view on the likely direction of mortgage rates, likely reflecting the fact that actual mortgage rates have moved upward since the start of the year.
  • Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 35% to 29%, while the percentage who expect mortgage rates to go up increased from 32% to 34%.
  • As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 8 percentage points month over month.

Enact Releases 2023 Environmental, Social, and Governance (ESG) Report

Retrieved on: 
Wednesday, March 20, 2024
ACT, Failure, Communication, ESG, Security (finance), Risk, Federal Housing Administration, U.N, TCFD, Annual report, Calendar, Freddie Mac, Fannie Mae, Task force

RALEIGH, N.C., March 20, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2023 Environmental, Social, and Governance (ESG) Report covering the calendar year 2023.

Key Points: 
  • RALEIGH, N.C., March 20, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2023 Environmental, Social, and Governance (ESG) Report covering the calendar year 2023.
  • This report builds upon Enact’s inaugural ESG report published in 2023, for the calendar year 2022, by providing additional insight into Enact’s approach to ESG matters and highlighting progress across our ESG priorities, along with new insights that provide additional transparency into Enact’s ESG journey.
  • The new insights include additional disclosures relating to the Taskforce on Climate-related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (U.N. SDGs) frameworks.
  • “On behalf of everyone at Enact, I am pleased to share the next installment in our efforts to build a more inclusive and sustainable future for our customers, employees, investors and communities,” said Rohit Gupta, President and CEO of Enact.

Greystone Closes $425 Million Healthcare CLO

Retrieved on: 
Monday, March 18, 2024
CLO, Goldman Sachs, CRE, Corporate finance, Capital market, Bridge, Nursing, UBS, Freddie Mac, HUD, Fannie Mae, J.P. Morgan & Co., Property management

NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, today announced the closing on March 15, 2024 of Greystone CRE Notes 2024-HC3, a $425 million Commercial Real Estate Collateralized Loan Obligation (CRE CLO) backed exclusively by bridge loans provided by Greystone Monticello on healthcare-related properties.

Key Points: 
  • NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, today announced the closing on March 15, 2024 of Greystone CRE Notes 2024-HC3, a $425 million Commercial Real Estate Collateralized Loan Obligation (CRE CLO) backed exclusively by bridge loans provided by Greystone Monticello on healthcare-related properties.
  • Greystone CRE Notes 2024-HC3 marks Greystone’s sixth overall CRE CLO and the industry’s third-ever CRE CLO comprised solely of healthcare assets, particularly skilled nursing, assisted living, memory care, and independent living facilities, the first two being closed by Greystone in 2018 and 2021.
  • This latest collateral pool for Greystone CRE Notes 2024-HC3 comprises 13 whole loans and 9 participations totaling $397 million that Greystone originated, secured by mortgages on 51 properties in 19 states.
  • Greystone will invest the remaining $28 million of CRE CLO proceeds over the next 180 days into comparable mortgage loan assets.

Regions Bank Names Katie Such as head of Affordable Housing as Rob Chiles Announces Retirement

Retrieved on: 
Wednesday, March 27, 2024
Residential Building & Real Estate, Banking, Construction & Property, Professional Services, University, Real estate, PNC Financial Services, Bachelor of Arts, Business administration, Bank, Regions Financial Corporation, Distribution, Such, Housing, Investment, Region, Home Forward, Multimedia, LIHTC, Portland State University, HUD, Fannie Mae

Regions Bank on Wednesday announced experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing .

Key Points: 
  • Regions Bank on Wednesday announced experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing .
  • View the full release here: https://www.businesswire.com/news/home/20240327719034/en/
    Regions Bank is announcing experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing.
  • (Photo: Business Wire)
    Mike Smith, head of Real Estate Banking for Regions, said the appointment of Such reflects Regions’ continued dedication to supporting affordable housing opportunities.
  • The result is helping connect more people with more high-quality housing options.”
    Regions Affordable Housing LLC is a national low-income housing tax credit (LIHTC) investor, syndication firm and leader in affordable housing.

Sonida Senior Living, Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, March 27, 2024
Health, Consumer, Residential Building & Real Estate, Seniors, Managed Care, Construction & Property, Common stock, Ally Financial, Tax, Private, Information technology, COVID-19, Protective Life, Sale, Insurance, Bank statement, Share (finance), Investment, GAAP, Fannie Mae, Ally, Cryptocurrency

(1) Includes $0.0 million, $0.0 million, $0.5 million, $2.9 million and $1.2 million of state grant revenue received in Q4 2023, Q4 2022, Q3 2023, Full Year 2023 and Full Year 2022, respectively.

Key Points: 
  • (1) Includes $0.0 million, $0.0 million, $0.5 million, $2.9 million and $1.2 million of state grant revenue received in Q4 2023, Q4 2022, Q3 2023, Full Year 2023 and Full Year 2022, respectively.
  • Operating expenses for the three months ended December 31, 2023 were $44.4 million as compared to $45.1 million for the three months ended December 31, 2022, a decrease of $0.7 million.
  • Adjusted EBITDA for the three months ended December 31, 2023 was $9.3 million compared to $4.6 million for the three months ended December 31, 2022.
  • Adjusted EBITDA for the year ended December 31, 2023 was $33.9 million compared to $17.0 million for the year ended December 31, 2022.

Meridian Capital Group Names Brian Brooks as Chairman & CEO; Ralph Herzka Assumes New Role as Founder & Senior Chairman

Retrieved on: 
Tuesday, March 26, 2024
Commercial Building & Real Estate, Construction & Property, Professional Services, Finance, Credit Suisse First Boston, Growth, CIT Group, Goldman Sachs, Goodman, Sale, OneWest Bank, Credit Suisse, Private sector, Senior, Federal Deposit Insurance Corporation, Multimedia, Currency, Government, Fannie Mae, Capital Group Companies, Security (finance)

View the full release here: https://www.businesswire.com/news/home/20240326196476/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240326196476/en/
    Mr. Herzka, 62, co-founded Meridian in 1991 and rose to become one of the foremost leaders and innovators in commercial mortgage origination.
  • He will continue to play a key role in the business as Founder and Senior Chairman, focusing on expanding customer, lender and broker relationships and generating additional revenue growth.
  • Mr. Brooks, 54, is a recognized authority on financial services, with decades of government and private sector experience.
  • Under Mr. Herzka’s leadership, Meridian has arranged more than $550 billion in commercial real estate financing for more than 11,000 customers since its founding.

Blend Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Friday, March 15, 2024
Professional Services, Technology, Software, Finance, Fintech, Internet, Banking, Growth, Retail banking, ...Continued, BLND, Mortgage Bankers Association, GAAP, Citizens Bank, Total, Fannie Mae, Bank

Blend Labs, Inc. (NYSE:BLND), a leader in cloud banking software, today announced its fourth quarter and full year 2023 financial results.

Key Points: 
  • Blend Labs, Inc. (NYSE:BLND), a leader in cloud banking software, today announced its fourth quarter and full year 2023 financial results.
  • “Despite a challenging market environment, Blend has achieved substantial progress on our three strategic priorities over the course of 2023,” said Nima Ghamsari, Head of Blend.
  • Total company revenue in 2023 was $156.8 million, composed of Blend Platform segment revenue of $109.5 million and Title segment revenue of $47.3 million.
  • Non-GAAP Blend Platform segment gross profit was $77.4 million in 2023, up from $76.3 million in 2022.