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FAR parent updates investors on AAG integration, business performance

Housing Wire

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 421
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Fannie Mae’s chief economist on housing market outlook

Housing Wire

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. However, a silver lining in the subdued housing market is the strength in new-home sales. So you’re having to encourage investors with wider spreads to accept that.

FHA loan 450
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CoStar and private equity group battle for CoreLogic

Housing Wire

Citing anonymous sources, Bloomberg reported that CoStar Group and a private equity group led by Warburg Pincus are currently competing for the data provider, though it is unclear if either have made an offer yet. The investors dropped their takeover bid on Nov. billion market cap. Presented by: Black Knight.

Equity 384
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Ginnie Mae eyes year-end for new HMBS product

Housing Wire

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday.

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Ginnie Mae to explore new reverse mortgage-backed security product

Housing Wire

Released on Tuesday morning, the move is a further attempt to address the well-documented liquidity challenges that have been plaguing the reverse mortgage business for most of the past year, stemming from the late 2022 bankruptcy of Reverse Mortgage Funding (RMF), the run-up in interest rates and a precipitous drop in loan volume.

Mortgages 432
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Rocket lost money last year, so why are its shares up?

Housing Wire

Despite reporting a GAAP net loss of $390 million in 2023, investors seem to be sold on the company’s path towards Rocket’s “AI-fueled homeownership strategy,” a phrase repeatedly used by executives in a fourth-quarter earnings call on Thursday. per share at market open on Friday, up from $10.98 Rocket’s stock price rose to $11.75

Equity 421
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Excelerate Capital is accelerating its growth in the non-QM market 

Housing Wire

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. With the Castle acquisition and tech integration now completed, our intent is to lend nation nationwide in the non-QM market.

Marketing 370