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MBA Ranks Commercial and Multifamily Servicers
The Mortgage Bankers Association has released their semi-annual report on the largest commercial and multi-family loan servicers. Wells Fargo/Wachovia Bank ranks first as the largest primary and master servicer.
Manufacturing Surveys and Jobs Data
Optimism that the economy is recovering in the third quarter has allowed the benchmark S&P 500 to rebound by 52% since early March, but in the past week markets were unimpressed with fresh data, even though most of it was positive. Analysts said investors were not sure the rapid 5-month gain in markets was justified, leading many to take profits while they could, pushing their cash from risky equities into bonds. A rally in Treasuries caused the 10-year yield to fall from 3.60% last Monday to 3.45% this morning.rn
Fannie Mae’s Portfolio Down 18% in July, Delinquencies Rising
Business at Fannie Mae was recovering mid-way through the summer, though the total value of its portfolio remains down nearly one-fifth, according to a press release on Thursday.rnrnThe government-sponsored purchaser of mortgages said its Book of Business grew at a compound annualized rate of 10.1% in July, helping the year-to-date figure improve to 6.1%. However, its total mortgage portfolio declined at an annualized rate of 18.2%. In July, the portfolio fell by 1.7%, the first dip in three months
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Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...