Tag Archives: Freddie Mac

U.S. Senator and Senate Banking Committee member Bob Corker (R-Tennessee) warned federal regulators Tuesday to stick to simplified, synchronized lending rules in order to avoid driving out private capital. Corker specifically pointed to the qualified residential mortgage (QRM) rule, which includes an exemption on risk retention for loans sold to Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA)--an exemption Corker believes may drive lenders away from the private market.

A recent report from Harvard University's Joint Center for Housing Studies argues for more flexibility for the Federal Housing Administration (FHA). Under direction of a congressionally appointed advisory board and CEO, the new "FHA Corp." should be free to enact its own hiring process, manage its own budget and adapt to market changes "without Congress legislating each change or mandating numerous complex or inconsistent rules and regulations," researchers suggest.

Fannie Mae and Freddie Mac approved National Mortgage Insurance Corporation as an eligible mortgage insurer.

Freddie Mac's Primary Mortgage Market Survey registered little motion among rates for the week ending January 17. The average 30-year fixed rate slipped to 3.38 percent (0.7 point), down from 3.40 percent last week. The 15-year fixed rate averaged 2.66 percent (0.7 point), the same as in the previous week's survey. Bankrate.com, on the other hand, reported more extreme shifts as markets grow increasingly nervous about the country's continued financial uncertainties.

According to commentary from Daniel Dektar, chief investment officer at Smith Breeden Associates, all the fundamentals are in place for a housing upturn - if pent-up demand can actually translate into buyer interest.

Mortgage rates took a jump this week as markets await the fiscal drama to unfold in the next few months. According to Freddie Mac's Primary Mortgage Market Survey, the average rate on a 30-year fixed-rate mortgage (FRM) was 3.40 (0.7 point) percent for the week ending January 10, up somewhat significantly from 3.34 percent in 2013's first survey. Bankrate reported similar results in its weekly survey, with the 30-year fixed average soaring to 3.67 percent--its highest level since September.

After going into free-fall for much of 2012, fixed mortgage rates started off 2013 with very slight declines.

For the first time in nearly two long years, Freddie Mac's total mortgage portfolio grew in November, the company reported.

Keefe, Bruyette & Woods (KBW), a boutique investment bank and broker-dealer, is predicting "more of the same" for the mortgage market in 2013.

Fannie Mae and Freddie Mac may have lost billions of dollars as a result of borrowing rate manipulation.