The Federal Housing Finance Agency (FHFA) has taken the next step toward building a new common securitization platform for the GSEs with the filing of a certificate to establish a joint venture.
Read More »Freddie Mac Issues Guidance on Borrowers Affected by Shutdown
In an effort to keep the mortgage market running as smoothly as possible, Freddie Mac issued Monday temporary guidance for lenders to continue approving loans for eligible borrowers during the federal shutdown. Dave Lowman, EVP of single-family business at the GSE, said the bulletin is intended to give lenders the certainty to continue approving and delivering new mortgages that meet Freddie Mac guidelines to eligible borrowers, such as federal employees and contractors, during the temporary shutdown.
Read More »Zillow, Bipartisan Policy Center Discuss Secondary Market Reform
In the latest of its consumer education videos, Zillow recently sat down with the Bipartisan Policy Center's (BPC) Barry Zigas to discuss the center's ideas for GSE reform.
Read More »Tight Credit May Cinch Further as Government Agencies Scale Back
Mortgage lending remains tight compared to historical norms, and lending could tighten even further as the government takes steps to lessen its role in the market.
Read More »Interest Rates Feel Effects of Government Shutdown
Freddie Mac's Primary Mortgage Market Survey showed average fixed rates dropping for the third straight week, with the 30-year fixed-rate mortgage (FRM) averaging 4.22 percent (0.7 point) for the week ending October 3, down a tenth of a percentage point. In addition to the government shutdown (which threatens to shave points off of GDP growth in Q4 if allowed to continue much longer), rates were brought down by a slip in consumer sentiment in September.
Read More »Wells Fargo, SunTrust Announce Settlements with Freddie Mac
Wells Fargo and SunTrust Mortgage are the two most recent companies to settle over claims regarding representations and warranties on single-family loans sold to the GSE.
Read More »Agencies, Analysts React to Government Shutdown
Most economists agreed that the broader effects of the shutdown should be minimal, assuming that the shutdown is short-lived.
Read More »Freddie Mac Names Ally Exec to Replace Outgoing CFO
Ally CFO James G. Mackey will soon be departing to take an executive position at Freddie Mac, the mortgage giant announced.
Read More »Citigroup, Freddie Mac Reach Agreement on Repurchase Claims
According to a release from Citi, the bank will pay Freddie Mac $395 million, all of which is covered by its existing mortgage repurchase reserves as of the end of Q2. The agreement covers claims for breaches of representations and warranties on 3.7 million loans sold between 2000 and 2012. Jane Fraser, CEO of CitiMortgage, said the agreement "marks another important milestone in successfully resolving Citi's remaining legacy mortgage issues."
Read More »August Business Sinks at Freddie Mac
Freddie Mac's mortgage portfolio shrank in August at the fastest rate so far this year. The portfolio contracted at a rate of 5.0 percent, turning down further from July's -1.7 percent growth rate.
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