Freddie Mac CFO Ross J. Kari is making plans to retire in the second half of 2013, the GSE announced. While Kari has not yet selected an official date to depart from Freddie Mac, he informed the company he intends to retire in the latter half of the year following his 55th birthday.
Read More »MBA Assembles GSE Single-Family Task Force
The Mortgage Bankers Association (MBA) has assembled a GSE Single Family Task Force to revisit the association's 2009 proposal for the future of the secondary market and to further discourse on this topic. The task force will work in two phases. First, they will review the 2009 position and determine potential issues during a transition. Next, they will put together a "roadmap" for the transition.
Read More »Mortgage Rates Hover as Fed Extends Bond-Buying Program
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) interest rate averaged 3.32 percent (0.7 point) for the week ending December 13, down slightly from 3.34 percent the previous week. The 15-year FRM this week averaged 2.66 percent (0.6 point), down week-to-week from 2.67 percent. Rates measured by Bankrate's weekly survey were even more sluggish. The 30-year fixed averaged 3.52 percent, a slight increase from last week's low of 3.50 percent.
Read More »Freddie Mac Forecasts Future of Housing Growth
Add Freddie Mac to the list of companies forecasting great things in the 2013 housing market.
Read More »Report: White House Preparing to Replace DeMarco
Edward DeMarco's days directing the Federal Housing Finance Agency (FHFA) may be numbered, according to a report from The Wall Street Journal. "People familiar with the discussions" told The Wall Street Journal the White House is preparing to nominate a new director. According to those sources, administration officials are still in the process of gathering names for potential nominees. DeMarco has no shortage of nemeses both in and out of Washington, though he's not without supporters.
Read More »FHFA to Increase Oversight of Staff Compensation at GSEs
The Federal Housing Finance Agency (FHFA) isn't doing enough to monitor compensation for senior professionals at Fannie Mae and Freddie Mac, the Office of the Inspector General (FHFA-OIG) suggests in a new report. According to the report, senior professionals (classified as VPs and directors) earned a collective $455 million in 2011. The median cash compensation for the Enterprises' total 333 VPs was $388,000, while the median pay among the 1,650 director positions was $205,300.
Read More »Genworth Adds Former Freddie Mac CEO as Independent Director
Genworth Financial, Inc., has appointed an independent director as part of the company's strategy to rebuild value for shareholders. Naming the former CEO and director of Freddie Mac to the board, Genworth added David M. Moffet to fill the new position.
Read More »Mortgage Rates Mixed as Markets Await Jobs Report, Fiscal Cliff News
Fixed mortgage rates stayed relatively calm this week as economic indicators showed improved strength.
Read More »Freddie Mac to Examine Older Loans for Repurchase
Freddie Mac may ramp up repurchase demands with intentions to begin including mortgage loans made in 2004 and 2005 in its repurchase reviews.
Read More »Fannie Mae and Freddie Mac Share Holiday Cheer
Homeowners facing foreclosure will find a brief respite during this year├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós holiday season.
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