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FMCC

Freddie Mac

$0.00

(0.00%)

, FNMA

Fannie Mae

$0.00

(0.00%)

14:00
01/10/19
01/10
14:00
01/10/19
14:00

Fannie, Freddie fall after Ginnie Mae COO Michael Bright departs

The Structured Finance Industry Group, a member-based trade industry group focused on improving the broader structured finance and securitization markets, announced earlier today that it has named Michael Bright as President and CEO, effective January 21. Bright will lead SFIG's education, policy and advocacy initiatives. He joins SFIG from Ginnie Mae, where he was Executive Vice President and Chief Operating Officer, managing all operations for Ginnie Mae's $2.0 trillion portfolio of mortgage-backed securities. Shares of Fannie Mae (FNMA) are down 8.5% to $1.72 in afternoon trading while Freddie Mac (FMCC) is down 8.6% to $1.70. "The securitization industry plays a fundamental role in our economy and it is vital that policymakers and the industry work constructively together as the market continues to evolve. I am honored to join the SFIG team and see tremendous opportunity to build on this group's success as the voice of securitization," said Bright. "I look forward to working with all of our members to represent the diverse views of this critical field and continuing to provide meaningful education, advocacy and connection for our members across all aspects of securitization."

FMCC

Freddie Mac

$0.00

(0.00%)

FNMA

Fannie Mae

$0.00

(0.00%)

  • 28

    Feb

FMCC Freddie Mac
$0.00

(0.00%)

03/12/18
WELS
03/12/18
NO CHANGE
WELS
Mortgage Insurers sliding on fears about Freddie pilot, says Wells Fargo
After Dowling Research said Freddie Mac (FMCC) has introduced an alternative for securing mortgage insurance as a pilot program with Arch Capital (ACGL) that has pricing "solidly below" published mortgage insurer lender-paid singles rate cards, Wells Fargo analyst Sean Dargan noted that Essent Group (ESNT), MGIC Investment (MTG) and Radian Group (RDN) are down 8%-11% in reaction to fears that Arch will gain meaningful share in the Freddie business. While awaiting more information from both Arch and Freddie Mac, Dargan said that Essent, given its Bermuda reinsurance structure, would be better positioned to replicate the Arch model than would MGIC or Radian. Near midday, Essent is down 8%, MGIC is down 9% and Radian is down 11%.
03/13/18
DBAB
03/13/18
NO CHANGE
DBAB
Private Mortgage Insurer selloff yesterday overdone, says Deutsche Bank
Shares of Private Mortgage Insurers were down roughly 10% yesterday following news that Freddie Mac (FMCC) and private MI Arch had initiated a structure whereby a panel of reinsurers will provide the necessary credit risk enhancement for a portion of low down-payment mortgages otherwise met by traditional mortgage insurance, Deutsche Bank analyst Phil Stefano tells investors in a research note. The analyst recommends buying Essent Group (ESNT), MGIC Investment (MTG), NMI Holdings (NMIH) and Radian Group (RDN) following yesterday's weakness. Clients have relayed from reports the potential for a 10%-30% decline in Singles pricing, the analyst says. He notes this business makes up roughly 15%-20% of new business being written today. Assuming a 20% price cut on 20% of the business combined with the uncertainties underlying the new structure, Stefano would have anticipated a "muted high-single-digit reaction to the stocks." He feels the selloff yesterday in the Private Mortgage Insurers is overdone.
FNMA Fannie Mae
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(0.00%)

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MDT

Medtronic

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BG

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AUPH

Aurinia Pharmaceuticals

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BG

Bunge

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IPGP

IPG Photonics

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CNC

Centene

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QURE

uniQure

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-0.02 (-0.06%)

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CNCE

Concert Pharmaceuticals

$14.21

-0.065 (-0.46%)

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RCKT

Rocket Pharmaceuticals

$16.00

0.23 (1.46%)

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PSTI

Pluristem

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TLRY

Tilray

$77.14

-6.17 (-7.41%)

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BG

Bunge

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0.745 (1.43%)

, CAG

Conagra Brands

$21.58

0.34 (1.60%)

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BG

Bunge

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CAG

Conagra Brands

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CGEN

Compugen

$3.18

0.07 (2.25%)

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KSU

Kansas City Southern

$110.57

6.4 (6.14%)

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Kansas City Southern analyst commentary  »

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TRV

Travelers

$123.97

1.03 (0.84%)

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Travelers reports Q4 consolidated combined ratio of 97.5% »

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TRV

Travelers

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1.03 (0.84%)

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CONN

Conn's

$19.65

0.31 (1.60%)

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Conn's analyst commentary  »

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AMRX

Amneal Pharmaceuticals

$12.41

-0.07 (-0.56%)

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TRV

Travelers

$123.97

1.03 (0.84%)

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Earnings
Travelers reports Q4 core EPS $2.13, consensus $2.33 »

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AINV

Apollo Investment

$14.51

-0.01 (-0.07%)

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Upgrade
Apollo Investment rating change  »

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IDXG

Interpace Diagnostics

$1.07

(0.00%)

, LH

LabCorp

$137.67

2.42 (1.79%)

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Interpace finalizes validation of third specimen of ThyGeNEX and ThyraMIR »

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IDXG

Interpace Diagnostics

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LH

LabCorp

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ZBH

Zimmer Biomet

$105.33

-0.83 (-0.78%)

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LCI

Lannett

$7.64

0.15 (2.00%)

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SDLP

Seadrill Partners

$1.77

0.07 (4.12%)

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Seadrill Partners reduces dividend to 1c from 10c »

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