Latest news with #BillPulte
Bloomberg
a day ago
- Business
- Bloomberg
Pulte Sees No Scenario Where Trump Isn't in Control of Fannie Mae, Freddie Mac
Federal Housing Finance Agency Director Bill Pulte said he cannot envision a situation where President Donald Trump relinquishes control of Fannie Mae and Freddie Mac, emphasizing there is a need to keep implicit guarantees intact as the administration considers potential options for the two mortgage giants. 'I don't see any scenario where the president isn't in control of Fannie Mae and Freddie Mac,' Pulte said during an interview with Bloomberg Television Thursday.
Yahoo
2 days ago
- Business
- Yahoo
Trump's latest Fannie and Freddie comments are confusing the stock and bond markets
Shares of mortgage giants Fannie Mae and Freddie Mac are whipsawing after President Trump emphasized this week that his administration is working on taking the companies public while maintaining implicit backing by the US government. But Trump provided few new details on how he could engineer such a complex undertaking without upending the country's $9 trillion mortgage market and sending home loan rates spiraling. 'Our great Mortgage Agencies, Fannie Mae and Freddie Mac, provide a vital service to our Nation by helping hardworking Americans reach the American Dream — Home Ownership. I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President,' Trump said in a Truth Social post late Tuesday. Shares of the two government-sponsored enterprises surged initially on Wednesday before paring gains after Bill Pulte, the chairman of the two companies, said in an interview that Trump didn't say he would look to fully privatize the companies, and they could go public while remaining under government control. Fannie Mae stock (FNMA) closed 2.2% higher on Wednesday, while Freddie Mac shares (FMCC) finished up 5.3%. But both were dropping as of midday Thursday. The mortgage bond market is so far signaling similar confusion. After Trump's latest post, the extra yield investors demand as compensation for the risk of holding on to mortgage bonds shrank slightly, then rose a bit before tightening again. 'The devil is really in the details with this one,' said Walter Schmidt, senior vice president and manager for mortgage strategies at FHN Financial. 'Policy wish lists and reality are very different things.' Trump's latest statement looks to some like an effort to reassure markets that Fannie and Freddie will maintain some sort of government guarantee even once they are released from the government's control, a crucial factor that helps keep mortgage bond yields and, by association, mortgage rates low. Under the current system, Fannie and Freddie are under formal government control, giving them the same near-perfect credit ratings as the US government. Debt investors consider the mortgages they purchase, package, and sell as bonds as ultra low-risk. Read more: What is the 10-year Treasury note, and how does it affect your finances? Trump's proposal for an implicit guarantee would be a return to Fannie and Freddie's status before the 2008 financial crisis, when the mortgage giants weren't formally supported by the government but were generally considered too big to fail, leading to the expectation that the government would step in if they ran into trouble. That setup also gave investors confidence that buying Fannie and Freddie mortgage bonds is low-risk, though not quite as low-risk as a setup with explicit government backing. 'It's good that Trump [posted] the other day that the GSEs will still have the implicit guarantee,' said Tracy Chen, who leads global structured credit investing at Brandywine Global. 'That takes out the tail risk. At the same time, I think the market is still looking for the best scenario, which would be an explicit guarantee, but we won't have that.' But in a situation where the GSEs are released without any sort of government guarantee, mortgage bond investors would demand extra yield to hold on to debt that suddenly has a riskier profile. Some may choose to stop buying the bonds altogether. Mortgage rates would likely rise in response. It's tough to make calls on Fannie and Freddie's release due to 'the rather digital nature of how things could play out,' Morgan Stanley strategists led by Jay Bacow and James Egan wrote in a note Tuesday. But current uncertainty around the guarantees is likely keeping some mortgage bond buyers out of the market even now. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy 'While we think it is extremely unlikely that the GSEs can exist without some type of government guarantee, the longer uncertainty exists, the more barriers there are to investors buying the local supply,' the strategists wrote. If demand for Fannie and Freddie's mortgage bonds ever materially dries up, it would radically upend the current housing finance system. The two companies support about 70% of the mortgage market, and if investors lose faith in those entities, more homebuyers would likely need to turn to alternative mortgages like higher-interest non-conventional loans, or government loans that leave taxpayers shouldering the risk. 'Our current [mortgage-backed securities] market in the US is completely based on the GSE system, so any overhaul is fraught with risks,' Schmidt said. Claire Boston is a senior reporter for Yahoo Finance covering housing, mortgages, and home insurance. Sign up for the Mind Your Money newsletter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Fannie Mae, FHFA, and Palantir Join Forces to Combat Mortgage Fraud—FundingShield Supports This Initiative With Its Proven, Real-Time Solutions
NEWPORT BEACH, Calif., May 29, 2025--(BUSINESS WIRE)--In a major step toward protecting the integrity of the U.S. housing finance system, Fannie Mae CEO Priscilla Almodovar, FHFA Director Bill Pulte, and Palantir Technologies CEO Alex Karp have joined forces in a coordinated initiative to combat mortgage fraud across the homebuying process. This effort reflects a broader industry commitment to strengthening fraud prevention and financial integrity Public and private stakeholders—including Fannie Mae, FHFA, and Palantir—are leveraging technology and data-driven insights to detect fraudulent activity more effectively. This policy initiative, initiated by President Donald J. Trump and led by Bill Pulte, brings government and industry leaders together to strengthen protections for homebuyers and financial institutions, fostering a more secure and transparent lending environment. FundingShield, the leader in transaction-level fraud prevention and real-time risk management, welcomes this industry-wide push for greater security in mortgage transactions. Having safeguarded over $4 trillion in closings, FundingShield brings extensive expertise and trusted technology to the fight against mortgage fraud, wire fraud, and title fraud. "Fraud in mortgage transactions can appear at multiple stages—from loan applications to closing, and even post-funding. It's a systemic issue that requires proactive monitoring and remediation," said Ike Suri, Chairman and CEO of FundingShield. "Our embedded, real-time technology doesn't just identify fraud—it remediates it, helping transactions close securely and efficiently so homebuyers and lenders can move forward with confidence." FundingShield's suite of API-enabled tools is fully integrated with key industry partners, including ICE Mortgage Technology, SitusAMC, Mastercard, and Tata Consultancy Services (TCS). These integrations allow for secure, streamlined, and scalable fraud prevention solutions that reduce operational costs and translates to tangible ROI while improving efficiency—ultimately benefitting homebuyers, Sellers, Lenders, Title companies and investors. With a firm commitment to risk management, regulatory compliance, fraud prevention and remediation, FundingShield continues to set the standard for secure and verified mortgage transactions for clients. By providing and leveraging our proprietary decision ready data, advanced machine learning, and deep industry connectivity, FundingShield remains a trusted partner in ensuring safe and reliable home financing. About FundingShield FundingShield is a leading provider of wire and title fraud prevention, transaction-level risk management, and real-time decision ready fraud detection and remediation. As the only MISMO-certified firm offering transaction-level fraud prevention, FundingShield leverages live source verified data, and machine learning to enhance security and compliance across the mortgage industry. With a proven track record of safeguarding over $4 trillion in closings and processing over $70 billion in monthly transactions, FundingShield's scalable, API-driven solutions help lenders, investors, and asset managers reduce costs, mitigate risk, and ensure seamless mortgage transactions. View source version on Contacts Media Inquiries and to learn more about our firm:FundingShield+1 949-706-7888Info@ Visit us on social media:LinkedIn Facebook Twitter Sign in to access your portfolio
Business Wire
2 days ago
- Business
- Business Wire
Fannie Mae, FHFA, and Palantir Join Forces to Combat Mortgage Fraud—FundingShield Supports This Initiative With Its Proven, Real-Time Solutions
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--In a major step toward protecting the integrity of the U.S. housing finance system, Fannie Mae CEO Priscilla Almodovar, FHFA Director Bill Pulte, and Palantir Technologies CEO Alex Karp have joined forces in a coordinated initiative to combat mortgage fraud across the homebuying process. This effort reflects a broader industry commitment to strengthening fraud prevention and financial integrity "Our embedded, real-time technology doesn't just identify fraud—it remediates it, helping transactions close securely and efficiently so homebuyers and lenders can move forward with confidence,' - Ike Suri, CEO of FundingShield Share Public and private stakeholders—including Fannie Mae, FHFA, and Palantir—are leveraging technology and data-driven insights to detect fraudulent activity more effectively. This policy initiative, initiated by President Donald J. Trump and led by Bill Pulte, brings government and industry leaders together to strengthen protections for homebuyers and financial institutions, fostering a more secure and transparent lending environment. FundingShield, the leader in transaction-level fraud prevention and real-time risk management, welcomes this industry-wide push for greater security in mortgage transactions. Having safeguarded over $4 trillion in closings, FundingShield brings extensive expertise and trusted technology to the fight against mortgage fraud, wire fraud, and title fraud. 'Fraud in mortgage transactions can appear at multiple stages—from loan applications to closing, and even post-funding. It's a systemic issue that requires proactive monitoring and remediation,' said Ike Suri, Chairman and CEO of FundingShield. 'Our embedded, real-time technology doesn't just identify fraud—it remediates it, helping transactions close securely and efficiently so homebuyers and lenders can move forward with confidence.' FundingShield's suite of API-enabled tools is fully integrated with key industry partners, including ICE Mortgage Technology, SitusAMC, Mastercard, and Tata Consultancy Services (TCS). These integrations allow for secure, streamlined, and scalable fraud prevention solutions that reduce operational costs and translates to tangible ROI while improving efficiency—ultimately benefitting homebuyers, Sellers, Lenders, Title companies and investors. With a firm commitment to risk management, regulatory compliance, fraud prevention and remediation, FundingShield continues to set the standard for secure and verified mortgage transactions for clients. By providing and leveraging our proprietary decision ready data, advanced machine learning, and deep industry connectivity, FundingShield remains a trusted partner in ensuring safe and reliable home financing. About FundingShield FundingShield is a leading provider of wire and title fraud prevention, transaction-level risk management, and real-time decision ready fraud detection and remediation. As the only MISMO-certified firm offering transaction-level fraud prevention, FundingShield leverages live source verified data, and machine learning to enhance security and compliance across the mortgage industry. With a proven track record of safeguarding over $4 trillion in closings and processing over $70 billion in monthly transactions, FundingShield's scalable, API-driven solutions help lenders, investors, and asset managers reduce costs, mitigate risk, and ensure seamless mortgage transactions.
Yahoo
3 days ago
- Business
- Yahoo
The top 10 home builders of 2025
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Every May, Builder magazine releases its ranking of the top 200 single-family home builders in the U.S. based on closings of homes built for sale and for rent. This year, most of the top 10 home builders have retained their positions on the Builder 100 or remained close. However, Salt Lake City, Utah-based SH Residential Holdings — the U.S. subsidiary of Japanese home builder Sekisui House — moved from No. 20 on the 2024 Builder 100 to No. 6 in 2025 after completing its acquisition of M.D.C. Holdings in April 2024, pushing Clayton Properties Group out of the top 10. Here's how the list's top 10 builders performed in the past year. To compare against last year's numbers, see our 2024 coverage. 1. D. R. Horton 2024 revenue: $33.8 billion 2024 closings: 93,311 (including 3,902 build-to-rent homes) Regions: Northeast, Midwest, South, West Company fact: D.R. Horton remains on the top of the Builder 100 list for the 23rd year in a row, and has moved up to No. 5 on the National Multifamily Housing Council's Top 25 Developers list, with 4,590 units started in 2024. Its single-family build-to-rent completions are down by almost 2,000 from the previous year. 2. Lennar Corp. 2024 revenue: $33.8 billion 2024 closings: 80,210 (including 1,005 condos) Regions: Northeast, Midwest, South, West Company fact: Quarterra, formerly known as Lennar Multifamily, made the NMHC Top 25 Developers list at No. 22, with 1,628 units started in 2024. The brand sold off two of its property portfolios in 2024 — a $2.1 billion sale to KKR in June and a sale to QuadReal Property Group in September for an undisclosed price. 3. PulteGroup 2024 revenue: $17.3 billion 2024 closings: 31,219 Regions: Northeast, Midwest, South, West Company fact: Bill Pulte, director of the Federal Housing Finance Agency, is the grandson of William Pulte, founder of PulteGroup. He served on the company's board of directors between 2016 and 2020. 4. NVR 2024 revenue: $10.3 billion 2024 closings: 22,836 Regions: Northeast, Midwest, South Company fact: NVR operates both mortgage and settlement and title services for buyers through its NVR Mortgage and NVR Settlement divisions. 5. Meritage Homes 2024 revenue: $6.3 billion 2024 closings: 15,611 Regions: South, West Company fact: Meritage has partnered with Operation Homefront's Permanent Homes for Veterans program for 12 years, donating mortgage-free homes to military veteran families. 6. SH Residential Holdings 2024 revenue: $8.1 billion 2024 closings: 14,860 Regions: Northeast, Midwest, South, West Company fact: SH Residential Holdings' 2024 acquisition of M.D.C. Holdings was valued at $4.9 billion. The builder also operates Woodside Homes, Holt Homes, Chesmar Homes and Hubble Homes in the U.S. 7. KB Home 2024 revenue: $6.9 billion 2024 closings: 14,169 Regions: South, West Company fact: KB Home's Dixon Trail community in Escondido, California, is the first new home development in the country to be built to the Insurance Institute for Business & Home Safety's home- and neighborhood-level wildfire resilience standards. 8. Taylor Morrison 2024 revenue: $7.8 billion 2024 closings: 12,896 Regions: Midwest, South, West Company fact: Three years after its launch, Taylor Morrison's Yardly build-to-rent brand has expanded to 35 communities — 15 leasing and 20 in progress — across nine markets in four states, according to the brand's website. 9. Century Communities 2024 revenue: $4.4 billion 2024 closings: 11,007 Regions: Midwest, South, West Company fact: Homes in Century Communities' Century Complete brand are available for purchase entirely online. 10. Toll Brothers 2024 revenue: $10.6 billion 2024 closings: 10,813 Regions: Northeast, Midwest, South, West Company fact: The builder's multifamily arm, Toll Brothers Apartment Living, recently sold The Kendrick in Newton, Massachusetts, to Norfolk, Virginia-based real estate investor and manager Harbor Group International for $182 million. Sign in to access your portfolio
