Tag Archives: Investors

Freddie Mac is at it again offering another round of the multifamily mortgage-backed securities known as K Certificates. The company expects to offer approximately $538 million in K Certificates (K-AIV Certificates), which are backed by 19 multifamily properties owned by affiliates of Apartment Investment & Management Co. The K Certificates are expected to price this week and settle on or around June 9.

Lender reaction at the recent 47th annual Chicago Federal Reserve Conference was largely negative on the current proposal to alter the selection process for members of the Federal Reserve Open Market Committee. The new system would allow Congress to choose members of the committee instead of continuing to use regional Fed officials selected by the private sector to determine committee membership. The bill introduced last week, is viewed as an attempt to move power away from the regional Fed system and the private sector.

The National Credit Union Administration which is now controlled by Federal regulators, is threatening to sue several investment banks unless they refund more than $50 billion in securities that were purchased by the five wholesale credit unions that make up the organization.

Texas Representative, Jeb Hensarling, reconfirmed his commitment to eliminating Fannie Mae and Freddie Mac within five years saying, "We have waited for years to do something. It is time to start doing something." Referring to the two-time rejection of his legislation by a Democrat-controlled chamber, he added, Hopefully, the third time is a charm. The fourth-ranking House Republican said he would reintroduce his legislation to end the conservatorship of Fannie and Freddie within two years of passage.

Mortgage rates hit a two-month low, declining to 4.67 percent for 30-year fixed loans. That's down from 4.88 percent one week ago, according to Freddie Mac. The average 15-year loan was down to 3.97 percent.

As expected, Allstate has filed against Citigroup and Deutsche Bank AG Allstate is suing over accusations that the banks covered up risks on more than $385 million in mortgage securities purchased by the insurance company.