Fannie Mae Sells $6 Billion Benchmark Note

Fannie Mae sold $6 billion of three-year notes in a benchmark issue, following a similar large-sized offering from Freddie Mac last week. [Read the full article]

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The end of the federal tax credit for homebuyers is fast approaching. That means crunch time for parents who want to help their kids buy a place as inexpensively as possible.

First-timers comprised 47% of all buyers last year, according to the National Association of Realtors. That’s the highest percentage on record. Many young buyers are getting down payment money from parents, some of whom are co-signing loans too. But parents, grandparents and other relatives who want to help should educate themselves before jumping in, for everybody’s safety.

Loan rules have tightened in the past year, say mortgage specialists and real estate agents, and present a moving target. Buyers with gift money or a possible co-signer must meet specific requirements.

“Loans are much harder to get than a year ago,” said Eric Glassoff, an agent with Coldwell Banker in Brookline, Mass. [Read the full article]

Doral Financial Corporation (NYSE:DRL – News) (“Doral” or the “Company”), the holding company of Doral Bank, today announced it has extended the expiration date until 11:59 p.m., New York City time, on March 19th, 2010 for its offers to exchange up to 16,500,000 shares of its common stock for issued and outstanding shares of its 7.00% Noncumulative Monthly Income Preferred Stock, Series A (“Series A Preferred Stock”), 8.35% Noncumulative Monthly Income Preferred Stock, Series B (“Series B Preferred Stock”), 7.25% Noncumulative Monthly Income Preferred Stock, Series C (“Series C Preferred Stock”), and 4.75% Perpetual Cumulative Convertible Preferred Stock (“Convertible Preferred Stock” and together the “Preferred Stock”). The exchange offers were scheduled to expire at 11:59 p.m., New York City time, on March 12, 2010. [Read the full article]

Fannie Mae (NYSE:FNM – News) will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption:

Principal Security Interest Maturity Redemption Amount Type Rate Date CUSIP Date —— —- —- ———– —– —- $250,000,000 MTN 1.250% Sept. 22, 2011 3136FJCZ2 March 22, 2010 $75,000,000 MTN 2.100% Sept. 23, 2011 3136FHDU6 March 23, 2010 $50,000,000 MTN 2.150% Sept. 23, 2011 3136FHER2 March 23, 2010 $65,000,000 MTN 2.150% Sept. 23, 2011 3136FHGF6 March 23, 2010 $50,000,000 MTN 2.200% Sept. 23, 2011 3136FHDD4 March 23, 2010 $25,000,000 MTN 2.250% Sept. [Read the full article]

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