Residential mortgage-backed security

Freddie Mac Posts LIBOR-Indexed Securities Fallback Rate Information to DTCC LENS, Updates Legacy LIBOR CUSIP List

Retrieved on:

Tuesday, May 16, 2023

Housing, FMCC, Consumer, LIBOR, Depository Trust & Clearing Corporation, Selection, SOFR, OTCQB, ARRC, Residential mortgage-backed security, Freddie Mac, LENS, CUSIP, DTCC, Consolidated, Security (finance)

MCLEAN, Va., May 16, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that, in addition to the fallback information on Freddie Mac legacy LIBOR-indexed securities currently posted to Freddie Mac's Reference Rates Transition webpage , it has posted that information to the LIBOR Replacement Index Communication solution using The Depository Trust & Clearing Corporation’s (DTCC) Legal Notice System (LENS).

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MCLEAN, Va., May 16, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that, in addition to the fallback information on Freddie Mac legacy LIBOR-indexed securities currently posted to Freddie Mac's Reference Rates Transition webpage , it has posted that information to the LIBOR Replacement Index Communication solution using The Depository Trust & Clearing Corporation’s (DTCC) Legal Notice System (LENS).
Freddie Mac securities will transition from LIBOR to replacement indices based on the Secured Overnight Funding Rate (SOFR), beginning on July 1, 2023.
“This solution will provide investors and others who subscribe to DTCC LENS a second channel for accessing LIBOR fallback information on Freddie Mac securities,” said Freddie Mac Treasurer, Ameez Nanjee, program sponsor for the enterprise’s LIBOR Transition.
To view the list and learn more about the LIBOR transition, please visit the Freddie Mac Reference Rates Transition webpage .

Northrim announces retirement of Residential Mortgage CEO, Steve Aldrich and promotion of Mike Baldwin to CEO

Retrieved on:

Wednesday, April 26, 2023

Residential mortgage-backed security, Retirement, Customer, Humour, Empathy, Bank, Real estate, Management, Financial adviser

ANCHORAGE, Alaska, April 26, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp announces the retirement of Residential Mortgage Chief Executive Officer, Steve Aldrich.

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ANCHORAGE, Alaska, April 26, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp announces the retirement of Residential Mortgage Chief Executive Officer, Steve Aldrich.
Residential Mortgage is a wholly owned subsidiary of Northrim Bank which is a wholly owned subsidiary of Northrim BanCorp.
Northrim Chairman and CEO Joe Schierhorn thanks Steve for his 25 years at Residential Mortgage and dedication to our community.
Residential Mortgage President Mike Baldwin is promoted to the position of President, CEO and COO, effective May 8, 2023.

Freddie Mac Lists Securities Transitioning from LIBOR, Together with Fallback Reference Rates

Retrieved on:

Thursday, April 13, 2023

Benchmark, Transfer, Housing, FMCC, Consumer, ICE, LIBOR, Selection, SOFR, OTCQB, USD, Residential mortgage-backed security, SPCS, Investment, Freddie Mac, CUSIP, Giant

MCLEAN, Va., April 13, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website a list of more than 34,000 Freddie Mac floating-rate securities transitioning from LIBOR to replacement indices based on the Secured Overnight Financing Rate (SOFR).

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MCLEAN, Va., April 13, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website a list of more than 34,000 Freddie Mac floating-rate securities transitioning from LIBOR to replacement indices based on the Secured Overnight Financing Rate (SOFR).
“Freddie Mac today moved another step closer to completing its years-long transition from LIBOR to new SOFR-based reference rates,” said Karen Pilewski, senior director and lead for Freddie Mac LIBOR transition implementation.
“The assignment of a fallback reference rate to every remaining LIBOR-indexed Freddie Mac security offers market participants added confidence that their investments will transition seamlessly to the replacement index at LIBOR’s cessation.”
The securities include Freddie Mac Participation Certificates, Giants, Collateralized Mortgage Obligations, Credit Risk Transfer securities and Multifamily PCs and SPCs for which Freddie Mac is responsible for selecting the replacement index.
To view the list and learn more about the LIBOR transition, please visit the Freddie Mac Reference Rates Transition webpage .

Freddie Mac Announces Additional Details Regarding the LIBOR Transition

Retrieved on:

Friday, January 13, 2023

Benchmark, Congress, SOFR, Adjustable-rate mortgage, Federal Reserve Board of Governors, Housing, LIBOR, Residential mortgage-backed security, FAQ, Federal Housing Finance Agency, Freddie Mac, FMCC, Index, FHFA, Interest rate, OTCQB, ICE, USD, Real estate

The selected replacement index for each legacy LIBOR product can be found on Freddie Mac’s Reference Rates Transition webpage.

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The selected replacement index for each legacy LIBOR product can be found on Freddie Mac’s Reference Rates Transition webpage.
As a result, Freddie Mac also will not take any steps to convert existing 30-day Average SOFR-indexed floating-rate loans or securities from 30-day Average SOFR to term SOFR.
We will update the LIBOR Transition Playbook and FAQs to help guide the housing finance industry in its transition to SOFR.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Fannie Mae Announces Replacement Rates for Legacy LIBOR Products

Retrieved on:

Thursday, December 22, 2022

Benchmark, Federal Reserve Board of Governors, SOFR, USD, LIBOR, Federal Housing Finance Agency, Intercontinental Exchange, Fannie Mae, Interest rate, Residential mortgage-backed security, ICE, Adjustable-rate mortgage, OTCQB, FNMA, Bank

WASHINGTON, Dec. 22, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the replacement indices for the legacy LIBOR loans and securities for which Fannie Mae is responsible for selecting the replacement index.

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WASHINGTON, Dec. 22, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the replacement indices for the legacy LIBOR loans and securities for which Fannie Mae is responsible for selecting the replacement index.
Under that Act, the Federal Reserve Board is the regulator required to select the benchmark replacement for legacy USD LIBOR contracts that are governed by U.S. law.
The following table lists the replacement index, as specified in the final rule, for each legacy LIBOR product specified below:
* All-in spread-adjusted rates will be published or provided by Refinitiv Limited as "USD IBOR Cash Fallbacks" for "Consumer" products.
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America.

FirstSun Capital Bancorp Announces Expansion of Executive Leadership Team at Sunflower Bank, N.A.

Retrieved on:

Thursday, October 6, 2022

FirstSun Capital Bancorp (FirstSun) (OTCQX: FSUN) announces the expansion of the Sunflower Bank, N.A.

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FirstSun Capital Bancorp (FirstSun) (OTCQX: FSUN) announces the expansion of the Sunflower Bank, N.A.
(Sunflower Bank) Executive Leadership team to reflect Sunflower Banks commitment to ensure its management structure continues to support its geographic and business line investments.
With todays announcement of the expanded leadership team, we have positioned the company for the next chapter of our growth and expansion, said Neal E. Arnold, Chief Executive Officer, President of FirstSun and Sunflower Bank.
FirstSun Capital Bancorp, headquartered in Denver, Colorado, is the financial holding company for Sunflower Bank, N.A., which operates as Sunflower Bank, First National 1870 and Guardian Mortgage.

Redwood Trust Names New Chief Investment Officer and Announces Transition of CoreVest Leadership Team

Retrieved on:

Monday, September 26, 2022

Fred Matera, Redwoods current Head of Residential, will assume the role of Chief Investment Officer of Redwood, overseeing centralized investment, capital markets and distribution functions across the Companys investment portfolio and Business Purpose Lending and Residential Mortgage Banking businesses.

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Fred Matera, Redwoods current Head of Residential, will assume the role of Chief Investment Officer of Redwood, overseeing centralized investment, capital markets and distribution functions across the Companys investment portfolio and Business Purpose Lending and Residential Mortgage Banking businesses.
In addition, Beth OBrien, Founder and Chief Executive Officer of CoreVest American Finance Lender LLC (CoreVest), and Christopher Hoeffel, President of CoreVest, will depart from Redwood on October 14, 2022.
I want to congratulate Fred Matera on his new role as Chief Investment Officer of Redwood, said Christopher Abate, Chief Executive Officer of Redwood.
Redwood Trust is internally managed and structured as a real estate investment trust ("REIT") for tax purposes.

NEW YORK COMMUNITY BANCORP, INC. ANNOUNCES $28 BILLION COMMUNITY BENEFITS AGREEMENT WITH NCRC TO SUPPORT COMMUNITIES OF COLOR, THE UNDERSERVED, SMALL BUSINESSES, DIVERSITY, AND ONGOING COMMITMENT TO RESPONSIBLE MULTI-FAMILY LENDING

Retrieved on:

Monday, January 24, 2022

The Company's Community Pledge Agreement (the "Agreement") was developed with NCRC and its members in conjunction with the Company's pending merger with Flagstar Bancorp, Inc. ("Flagstar").

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The Company's Community Pledge Agreement (the "Agreement") was developed with NCRC and its members in conjunction with the Company's pending merger with Flagstar Bancorp, Inc. ("Flagstar").
We thank the leadership of NCRC and its members for their hard work in bringing this agreement to fruition."
The Agreement addresses several important areas of need within our communities that were identified during our meetings with NCRC and its member organizations.
NCRC was formed in 1990 by national, regional, and local organizations to increase the flow of private capital into traditionally underserved communities.

Popular Bank Appoints Adam Dejak to Lead Residential Mortgage Lending Division

Retrieved on:

Thursday, January 20, 2022

Popular Bank , a subsidiary of Popular, Inc. (NASDAQ: BPOP) announced the appointment of Adam E. Dejak as National Director of Residential Lending for Popular Mortgage.

Key Points:

Popular Bank , a subsidiary of Popular, Inc. (NASDAQ: BPOP) announced the appointment of Adam E. Dejak as National Director of Residential Lending for Popular Mortgage.
Mr. Dejak brings more than 20 years of financial services experience, most recently as Director of Residential Mortgage Lending at Sterling National Bank, where he led business development, third party originations and capital markets loan acquisition.
Popular Mortgage offers a wide range of residential lending products to address the needs of todays homebuyers and investors.
Popular Bank is the mainland subsidiary of Popular, Inc. (Nasdaq: BPOP), which ranks among the top 50 U.S. banks by assets.

HV Bancorp, Inc. Reports Results For The Quarter Ended September 30, 2021

Retrieved on:

Friday, November 5, 2021

For the nine months ended September 30, 2021, return on average assets (ROA) and return on average equity (ROE) was 0.82% and 12.62%, respectively.

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For the nine months ended September 30, 2021, return on average assets (ROA) and return on average equity (ROE) was 0.82% and 12.62%, respectively.
Highlights for the quarter and nine months ended September 30, 2021 include:
Book value per share increased from $16.75 per share of common stock at September 30, 2020, to $19.52 per share of common stock at September 30, 2021.
Income Statement: For the quarter and nine months ended September 30, 2021, compared to September 30, 2020
Net interest income increased $1.2 million to $4.0 million for the three months ended September 30, 2021, from $2.8 million for the three months ended September 30, 2020.
Total non-interest expense decreased $145,000, or 2.6%, to $5.6 million for the quarter ended September 30, 2021, from $5.7 million for the quarter ended September 30, 2020 and increased $2.6 million, or 19.6%, to $16.3 million for the nine months ended September 30, 2021 from $13.7 million for the nine months ended September 30, 2020.