Fannie Mae

Group 1001 Names Boaknin as Chief Information Officer

Retrieved on: 
Monday, March 11, 2024
Professional Services, Data Management, Technology, Other Technology, Insurance, Finance, Fortune 500, BearingPoint, KPMG, Fannie Mae, Management

Group 1001, a leading financial services company, announces Nick Boaknin as Chief Information Officer.

Key Points: 
  • Group 1001, a leading financial services company, announces Nick Boaknin as Chief Information Officer.
  • As Chief Information Officer, Boaknin will assist Group 1001’s Technology team in building and delivering high-quality, innovative technology solutions that transform the insurance landscape.
  • The department’s focus is on scalability and adaptable technology solutions built on the foundations of the Group 1001 core values.
  • “We are excited to continue working with Nick as he leads us into this next phase of Group 1001’s Technology journey,” said Bob Stanton, Group 1001 Chief Operating Officer.

Fannie Mae Executes Two Credit Insurance Risk Transfer Transactions on $22.0 Billion of Single-Family Loans

Retrieved on: 
Thursday, April 4, 2024
Transfer, UPB, FNMA, News, Acquisition, Insurance, Disclosure, CIRT, Capital market, LTV, Fannie Mae

WASHINGTON, April 4, 2024 /PRNewswire/ -- Fannie Mae (FNMA/OTC) announced today that it has executed two new Credit Insurance Risk Transfer™ (CIRT™) transactions.

Key Points: 
  • WASHINGTON, April 4, 2024 /PRNewswire/ -- Fannie Mae (FNMA/OTC) announced today that it has executed two new Credit Insurance Risk Transfer™ (CIRT™) transactions.
  • Together, CIRT 2024-L2 and CIRT 2024-H1 transferred $709.0 million of mortgage credit risk to private insurers and reinsurers.
  • The loans included in both transactions are fixed-rate, generally 30-year term, fully amortizing mortgages and were underwritten using rigorous credit standards and enhanced risk controls.
  • For more information on specific CIRT transactions, including pricing , please visit our Credit Insurance Risk Transfer webpage .

Renewable fuels company Raven SR bolsters leadership team, secures $15M investment

Retrieved on: 
Tuesday, April 2, 2024
Stellar, Growth, CFO, Transport, Carbon, Investment, Hydrogen, Engineering, Fannie Mae, SAF

PINEDALE, Wyo., April 2, 2024 /PRNewswire/ -- Raven SR Inc. (https://ravensr.com/), a renewable fuels company, announced today key board additions and an executive promotion, coupled with securing $15 million in new investments, positioning the company for further growth and innovation in the clean energy sector.

Key Points: 
  • The company said the latest fundraising underscores the confidence in Raven SR's proprietary Steam/CO2 Reforming technology that converts various waste streams into renewable transportation fuels like hydrogen and sustainable aviation fuel (SAF).
  • In addition to the funding milestone, Raven SR said Stuart McFarland, former CFO of Fannie Mae, has been appointed chairman of the Board of Directors, with Mark Gordon, chief investment officer of Ascent Funds, as vice chairman.
  • McFarland said he was honored by the board's trust in his leadership and is looking forward to teaming with Murdock as they move the company ahead.
  • McFarland also acknowledged the support from shareholders and the dedicated project team, emphasizing their importance in Raven SR's journey.

As RentRedi Expands Reporting to All Three Major Credit Bureaus, Landlords See 13% Jump in On-time Rent Payments

Retrieved on: 
Thursday, March 28, 2024
Collection, Equifax, TransUnion, Fannie Mae, Lease

NEW YORK, March 28, 2024 /PRNewswire/ -- RentRedi, an award-winning property management software that simplifies the renting process for both landlords and renters, has expanded its on-time rent reporting to all three major credit bureaus: Equifax, Experian, and TransUnion. The ability to report on-time rent payments helps tenants build and boost their credit scores, while RentRedi data shows that landlords are likely to see a 13% jump in on-time rent payments when using the RentRedi Credit Boost feature.

Key Points: 
  • The ability to report on-time rent payments helps tenants build and boost their credit scores , while RentRedi data shows that landlords are likely to see a 13% jump in on-time rent payments when using the RentRedi Credit Boost feature.
  • Tenants are more likely to pay rent on time when payments are reported to major credit bureaus to boost their scores.
  • RentRedi Credit Boost reports on-time payments to the three credit bureaus, and when combined with the ability for tenants to schedule automatic payments through the RentRedi app, there is added incentive and convenience to being punctual with rent payments.
  • "Credit boosting through rent reporting is a win-win for both landlords and tenants," said RentRedi Co-founder and CEO Ryan Barone.

Fairway Independent Mortgage Corporation Increases Its Use of Digital Closings

Retrieved on: 
Wednesday, March 27, 2024
SVP, Tree, Paper, Freddie Mac, EMortgage, J.D. Power, Fairway, Fannie Mae, Digital, Real estate

MADISON, Wis., March 27, 2024 /PRNewswire/ -- Fairway Independent Mortgage Corporation, named #1 for customer satisfaction among mortgage origination companies in the J.D.

Key Points: 
  • MADISON, Wis., March 27, 2024 /PRNewswire/ -- Fairway Independent Mortgage Corporation, named #1 for customer satisfaction among mortgage origination companies in the J.D.
  • Power 2023 U.S. Mortgage Origination Satisfaction Study, is now the top user of digital closings among independent mortgage banks in the industry.
  • Fairway defines digital closings as any involving a digital or electronic signature, and the company is now the top independent mortgage bank for eMortgages for purchase transactions with Fannie Mae and Freddie Mac.
  • "85% of all closings with Fairway have a digital component," said Teri Pansing, Fairway's SVP of Corporate Closing.

Fannie Mae Receives 2024 ENERGY STAR Partner of the Year Award for Sustained Excellence

Retrieved on: 
Tuesday, March 26, 2024
Certification, Green, Capital market, MBS, Housing, EPA, Water, OTCQB, Fannie Mae, Renewable energy

WASHINGTON, March 26, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced it has received the 2024 ENERGY STAR Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. This is the 10th consecutive year for Fannie Mae's Multifamily business and the fourth consecutive year for the company's Single-Family business for outstanding contributions to increasing adoption of energy-efficiency improvements in housing.

Key Points: 
  • WASHINGTON, March 26, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced it has received the 2024 ENERGY STAR Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy.
  • Fannie Mae, an ENERGY STAR partner since 2011, is committed to creating positive environmental, social, and economic outcomes through mortgage finance.
  • "Fannie Mae is proud to support ENERGY STAR's efforts to reduce the environmental impact of multifamily housing," said Karyn Sper, Senior Director, Multifamily Green and Duty to Serve, Fannie Mae.
  • "We continue to increase partnerships with lenders, builders, and energy raters to help encourage more ENERGY STAR certified homes."

Fannie Mae Announces Winner of Twenty-Third Community Impact Pool of Non-Performing Loans

Retrieved on: 
Tuesday, March 26, 2024
CIP, BofA Securities, UPB, BPO, OTCQB, Sale, Fannie Mae, Auction

WASHINGTON, March 26, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its twenty-third Community Impact Pool (CIP) of non-performing loans.

Key Points: 
  • WASHINGTON, March 26, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its twenty-third Community Impact Pool (CIP) of non-performing loans.
  • The transaction is expected to close on May 22, 2024, and includes 37 loans totaling $10.4 million in unpaid principal balance (UPB).
  • The loans are geographically focused in the New York/New Jersey area, and the winning bidder was GITSIT Solutions, LLC (Tourmalet).
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Truv to Offer Income and Employment Verifications Through Fannie Mae's Desktop Underwriter

Retrieved on: 
Tuesday, March 19, 2024
Employment, Partnership, Sale, Encompass, Workforce, Privacy, NCino, DU, Fannie Mae

NEW YORK, March 19, 2024 /PRNewswire/ -- Truv, a provider of automated employment and income verification technology for mortgage lenders, banks and credit unions, announced it is now a conditionally authorized report supplier for mortgage lenders using Fannie Mae's Desktop Underwriter® (DU®) validation service. After final approval, which is expected later this year, Truv's consumer-permissioned platform will be able to obtain and transmit income and employment data through the DU validation service.

Key Points: 
  • After final approval, which is expected later this year, Truv's consumer-permissioned platform will be able to obtain and transmit income and employment data through the DU validation service.
  • Fannie Mae's DU validation service uses third-party data vendors to independently validate borrower income, employment, and asset data, providing lenders with Day 1 Certainty® on validated loan components.
  • A recent recipient of the 2024 HousingWire Tech100 Mortgage Award, the all-in-one Truv platform is currently used by more than 100 mortgage lenders to verify a borrower's income and employment information.
  • To learn more about how Truv's innovative and powerful platform delivers fast, affordable borrower verifications for mortgage lenders, visit www.truv.com/industries/mortgage .

Higher Mortgage Rate Forecast Leads to Decline in 2024 Home Sales Expectations

Retrieved on: 
Tuesday, March 19, 2024
Pressure, ESR Group, Federal, Sale, Economy, Housing, Fed, Federal Reserve, ESR, OTCQB, Fannie Mae

"The housing market is likely to continue to face the dual affordability constraints of high home prices and elevated interest rates in 2024," said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. "Hotter-than-expected inflation data and strong payroll numbers are likely to apply more upward pressure to mortgage rates this year than we'd previously forecast, as markets continue to evolve their expectations of future monetary policy. Still, while we don't expect a dramatic surge in the supply of homes for sale, we do anticipate an increase in the level of market transactions relative to 2023 -- even if mortgage rates remain elevated."

Key Points: 
  • WASHINGTON, March 19, 2024 /PRNewswire/ -- The increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024, according to the March 2024 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group.
  • The ESR Group now expects the 30-year fixed mortgage rate to end the year at 6.4 percent, up from the 5.9 percent predicted in last month's forecast.
  • "Hotter-than-expected inflation data and strong payroll numbers are likely to apply more upward pressure to mortgage rates this year than we'd previously forecast, as markets continue to evolve their expectations of future monetary policy.
  • Visit the Economic & Strategic Research site at fanniemae.com to read the full March 2024 Economic Outlook, including the Economic Developments Commentary , Economic Forecast , Housing Forecast , and Multifamily Market Commentary .

Ally Bank Launches Home Grant Program Alongside New Eligibility Search Tool

Retrieved on: 
Tuesday, March 19, 2024
Ally Financial, Ally McBeal (character), AMI, Home, Fannie Mae, Entrepreneurship, Real estate

CHARLOTTE, N.C., March 19, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced that Ally Home, its residential mortgage lending arm of Ally Bank, will offer a $5,000 grant for eligible homebuyers in three major metro areas to apply toward downpayment, closing or other costs. To help consumers take advantage of this assistance, Ally is partnering with HouseCanary to provide consumers with tools to easily identify grant-eligible properties via the Ally ComeHome search portal.

Key Points: 
  • To help consumers take advantage of this assistance, Ally is partnering with HouseCanary to provide consumers with tools to easily identify grant-eligible properties via the Ally ComeHome search portal.
  • "The homebuying process is overwhelming enough without the added complexity of identifying and securing the assistance you may need to afford a home in the first place," said Glenn Brunker, President of Ally Home.
  • Those who qualify can combine the Ally Home Grant with additional grants or offerings from Ally, including the Fannie Mae HomeReady® Mortgage program, which enables consumers to become homeowners for as little as 3% down.
  • The grants will be available to homebuyers in Charlotte, Detroit and Philadelphia within select markets with consideration to expand in the future.