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Greystone Provides $41.6 Million in Fannie Mae DUS® Financing for Multifamily Property in Cape Coral, Florida

Retrieved on:

Tuesday, February 13, 2024

NEW YORK, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $41,664,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 280-unit multifamily property in Cape Coral, Florida.

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NEW YORK, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $41,664,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 280-unit multifamily property in Cape Coral, Florida.
The financing was originated by Kyle Jemtrud, Managing Director at Greystone, with Kevin Coscia of Largo Capital acting as correspondent.
The $41,664,000 non-recourse, fixed-rate Fannie Mae loan features a 10-year term and 30-year amortization, with five years of interest-only payments.
“We truly appreciate that our client chose Greystone again for finding the right long-term financing for another property in their portfolio,” said Mr. Jemtrud.

Primis Mortgage Company, Subsidiary of Primis Bank, Becomes First Banked Owned Originator to Adopt FICO® Score 10 T to Increase Access to Homeownership

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Tuesday, February 13, 2024

Technology, Construction & Property, Insurance, Finance, Fintech, Consulting, Banking, Professional Services, Software, Residential Building & Real Estate, Qasr Ibrim, Growth, Organization, FDIC, Fannie Mae, Capital market, Freddie Mac, Credit

This move is a demonstration of Primis’ tech-forward strategy and dedication to helping more first-time buyers into homes.

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This move is a demonstration of Primis’ tech-forward strategy and dedication to helping more first-time buyers into homes.
In using FICO® Score 10 T for its non-conforming mortgage products, Primis Mortgage will be able to better evaluate new applications in real time and make more data-driven lending decisions.
“Primis means first, and we are pleased to be the first bank to adopt FICO’s most innovative score for mortgage originations,” said Greg Richardson, Executive Vice President of Capital Markets at Primis.
FICO® Score 10 T can help lenders better manage credit risk and default rates when extending competitive credit offers to consumers.

Fannie Mae Recognizes 32 High-Performing Mortgage Servicers Across Three Key Performance Areas

Retrieved on:

Monday, February 12, 2024

OTCQB, Senior, Fannie Mae, Overalls, STAR, Safety, FNMA, Housing, Partner, Online shopping

WASHINGTON, Feb. 12, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its 2023 Servicer Total Achievement and Rewards™ (STAR™) Program results, recognizing 32 mortgage servicers for competency, capacity, and overall performance. For more than a decade, Fannie Mae's STAR Program has awarded high-performing mortgage servicers for their loan volume and portfolio composition, and for demonstrating leading practices to improve the housing industry.

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2023 STAR Program Evaluates Servicing Partners in General Servicing, Solution Delivery, and Timeline Management Categories
WASHINGTON, Feb. 12, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its 2023 Servicer Total Achievement and Rewards™ (STAR™) Program results, recognizing 32 mortgage servicers for competency, capacity, and overall performance.
For more than a decade, Fannie Mae's STAR Program has awarded high-performing mortgage servicers for their loan volume and portfolio composition, and for demonstrating leading practices to improve the housing industry.
"We're proud to recognize our top-performing STAR Program servicers and their commitment to ensuring operational excellence, reducing credit loss, and continuously improving the overall homebuyer experience."
Since 2011, Fannie Mae's STAR Program has enabled broad and lasting improvements across the mortgage servicing industry by promoting servicing knowledge and excellence.

Federal Home Loan Bank of San Francisco Now Accepts Mortgage Collateral Using VantageScore 4.0 – Expanding Number of Diverse and Creditworthy Mortgage Applicants

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Monday, February 12, 2024

SAN, Algorithm, Federal Home Loan Banks, American Dream, Fannie Mae, VantageScore, Urban Institute, SVP, Bank, Federal Housing Finance Agency, Government, Safety, Ecosystem, Patelco Credit Union, Freddie Mac, Social, Housing, Urban

By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models.

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By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models.
“We know there are millions of creditworthy borrowers aspiring to be homeowners who are falling through the cracks,” said Teresa Bryce Bazemore, President and CEO of the Bank of San Francisco.
Notably, FHLBank San Francisco is the first in the Federal Home Loan Bank System to accept collateral that uses VantageScore’s predictive and inclusive credit scoring model.
In that report, FHLBank San Francisco highlighted the VantageScore 4.0 model as being more inclusive and particularly effective in communities currently excluded from the mortgage marketplace.

Fannie Mae Priced $518.3 Million Multifamily DUS REMIC (FNA 2024-M2) Under Its GeMS Program

Retrieved on:

Friday, February 9, 2024

Analytics, Fannie Mae, FNMA, FNA, Senior, Agency, OTCQB

WASHINGTON, Feb. 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $518.3 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on January 31, 2024.

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WASHINGTON, Feb. 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $518.3 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on January 31, 2024.
FNA 2024-M2 marks the first Fannie Mae GeMS issuance of 2024.
Due to ongoing market volatility, we prioritized a swift execution," said Dan Dresser, Senior Vice President, Multifamily Capital Markets, Pricing and Analytics.
All classes of FNA 2024-M2 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.

Fannie Mae Announces Scheduled Release of Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on:

Thursday, February 8, 2024

Fannie Mae, Annual report, FNMA, News, Form 10-K, OTCQB

WASHINGTON, Feb. 8, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced plans to report its fourth quarter and full-year 2023 financial results on Thursday morning, February 15, 2024, before the opening of U.S. financial markets.

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WASHINGTON, Feb. 8, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced plans to report its fourth quarter and full-year 2023 financial results on Thursday morning, February 15, 2024, before the opening of U.S. financial markets.
Fannie Mae has scheduled a conference call to discuss the company's results at 8:00 a.m., ET, on February 15, 2024.
Prior to the call, the company's fourth quarter and full-year 2023 earnings news release, annual report on Form 10-K, and other supplemental information will be available on the company's Quarterly and Annual Results webpage at fanniemae.com/financialresults .
Following the call, a transcript will be published to the same webpage and will remain available until our next quarterly earnings announcement.

Fannie Mae Announces Sale of Non-Performing Loans

Retrieved on:

Thursday, February 8, 2024

Organization, Fannie Mae, BofA Securities, FNMA, CIP, OTCQB, Sale, UPB, Security (finance)

WASHINGTON, Feb. 8, 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-third 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.

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The one large pool includes approximately 1,689 loans totaling $247.3 million in unpaid principal balance (UPB), and the CIP includes approximately 38 loans totaling $10.5 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.

Best’s Special Report: AM Best Updates Net Capital Charge Tables Associated With Fannie-Freddie Mortgage Risk Transfers

Retrieved on:

Wednesday, February 7, 2024

Insurance, Professional Services, Transfer, Freddie Mac, Table, CIRT, News, Capital, Publication, ACIS, Fannie Mae, ALL, CRT

These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.

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These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.
The net capital charge of CRT transactions is represented as B5m—mortgage-related net loss and LAE reserves risk—in the net required capital formula that is part of BCAR.
For this Best’s Special Report, “Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions,” AM Best has selected approximately half the 164 CRT transactions effective through December 2023 to calculate the net capital charges associated with individual layers of the CRT transactions.
AM Best publishes these net capital charge tables semi-annually, using the most current performance data available from the government-sponsored enterprises’ websites.

Greystone Names Debby Jenkins and Mordecai Rosenberg Co-Presidents of Lending Business Platform

Retrieved on:

Wednesday, February 7, 2024

Partnership, Fannie Mae, Heart, CMBS, HUD, Cushman & Wakefield, Freddie Mac, Growth, Health

NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Debby Jenkins and Mordecai Rosenberg have been appointed Co-Presidents of the firm’s comprehensive lending business platform, effective immediately, and will report directly to Steve Rosenberg, founder and CEO of Greystone.

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NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Debby Jenkins and Mordecai Rosenberg have been appointed Co-Presidents of the firm’s comprehensive lending business platform, effective immediately, and will report directly to Steve Rosenberg, founder and CEO of Greystone.
Together, Ms. Jenkins and Mr. Rosenberg will seek to elevate, expand, and innovate across a variety of lending disciplines, including the firm’s Agency debt, HUD-insured lending, CMBS, equity, structured finance, proprietary products, debt placement and advisory services, and loan servicing platforms.
“We gained significant market share in 2023 and are poised for immense growth in 2024 as we anticipate fundamentals to drive demand for the unique set of products and services offered by Greystone, along with the strength of our partnership with Cushman & Wakefield,” said Mordecai Rosenberg.
“I am thrilled to take on this new challenge alongside Mordecai, as well as build out our banking channel focus and alternative capital platform and enhance our capital markets capabilities.

Mortgage Rate Optimism Hits Survey High

Retrieved on:

Wednesday, February 7, 2024

FNMA, Fannie Mae, Optimism, Consumer, Housing, Research report, OTCQB, Real estate

WASHINGTON, Feb. 7, 2024 /PRNewswire/ -- The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 3.5 points in January to 70.7, its highest level since March 2022, due primarily to increased consumer confidence in job security and another significant jump in the share of consumers expecting mortgage rates to decrease. In January, 82% of consumers indicated that they are not concerned about losing their job in the next 12 months, up from 75% last month. Additionally, an all-time survey-high 36% of respondents indicated that they expect mortgage rates to go down in the next 12 months, while 28% expect them to go up, and 35% expect rates to remain the same. However, consumer perceptions of homebuying conditions remain overwhelmingly pessimistic, with only 17% of consumers indicating it's a good time to buy a home. Overall, the full index is up 9.1 points year over year.

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"Mortgage rate optimism increased markedly again in January, with a survey-high percentage of consumers anticipating mortgage rate declines over the next year," said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist.
"For the first time in our National Housing Survey's history, a greater share of consumers believe mortgage rates will decrease over the next year, rather than increase.
Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months increased from 31% to 36%, while the percentage who expect mortgage rates to go up decreased from 31% to 28%.
As a result, the net share of those who say mortgage rates will go down over the next 12 months increased 8 percentage points month over month.