As individuals make their way through the industry and companies merge, keep watch on the important highlights in this activity update.
Freddie Mac’s HomeSteps announced Monday in a vendor notice that in order to strike the appropriate balance between having adequate coverage for their portfolio, effectively manage the size of their vendor network, and ensure vendors have the proper level of assignments, they will be reducing the number of sales outsources from two companies down to one. Green River Capital, the REO division of Clayton, has and will be receiving the existing assets in three phases over the week with the final phase completing Saturday, September 30, 2017.
The U.S. Department of Housing and Urban Development (HUD) recently awarded $4.2 million to eight universities and public health organizations to identify and control residential health hazards such as lead-based paint, mold, radon, and pest infestations. The grants will be imperative in ensuring vulnerable populations such as children, seniors, and people with chronic illnesses such as asthma will not be exposed to the hazards.
Fannie Mae announced Thursday that is has completed the third set of traditional Credit Insurance Risk Transfer transactions of 2017 covering existing loans in the GSEs’ portfolio. The two deals (CIRT 2017-5 and CIRT 2017-6) cover $23 billion of loans together and are a part of Fannie’s ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. Fannie Mae has acquired about $5 billion of insurance coverage on $205 billion of loans through the CIRT program to date.
Bank of America Chicago Marathon recently announced that its 2016 race delivered an estimated $282 million in total business impact to the city. The findings come from its latest economic impact study ahead of its 40th anniversary of the event on October 8, 2017. This is the fourth year in a row they have provided more than a quarter billion dollars to the city of Chicago. Over the past 12 years, the economic impact from this event has nearly tripled, generating $96 million in 2005 and rising to more than $282 million in 2016.
Former Fannie Mae VP of Multifamily Capital Markets & Trading Josh Seiff was recently announced as a new addition to the HouseCanary Staff. Seiff will lead Business Development efforts in the financial services segment of the company and drive its strategic initiatives within the real estate capital markets ecosystem. His hiring will further HouseCanary’s goal of bringing price transparency to the real estate market.