Tag Archives: Freddie Mac

There are approximately 81,000 loans in the portfolio involved in the transaction, according to Ocwen's announcement. The transaction is subject to a definitive agreement as well as approval from Freddie Mac as well as Freddie Mac's conservator, the Federal Housing Finance Agency (FHFA).

The American Enterprise Institute's (AEI) International Center on Housing Risk reported another rise in mortgage origination risk in January, marking five straight months of increasingly risky lending. Researchers at the center say the rise in risk is due to a shift in market share from large banks to non-banks, whose practices are "substantially riskier than the large bank business."

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) was 3.76 percent (0.6 point) for the week ending February 19, up from 3.69 percent a week ago and the highest rate since 2014's final reading.

For the last three months of 2014, Freddie pulled in $227 million in net income, the company said Thursday, a drop of nearly $2 billion from Q3. The sharp drop came from derivative losses, which totaled $3.4 billion for the quarter as interest rates fell.

With job growth continuing on a strong track, a growing number of housing economists anticipate a comeback in homeownership—particularly among young adults—in the months and years ahead. However, a recent study from Freddie Mac turned up some discouraging results to throw some cold water on economists' high hopes.

Freddie Mac's Primary Mortgage Market Survey for the week ending February 12 shows the average interest rate for a 30-year fixed-rate mortgage (FRM) was 3.69 percent (0.6 point) this week, up a full 10 basis points from last week's 2015 low of 3.59 percent.

FHFA, which is suing on behalf of the RMBS pools' trustees, claims that Morgan Stanley committed a breach of contract by failing to buy back the poor performing loans, which were pooled into securities and sold to Freddie Mac in 2007, according to reports.

The newest offering is a Fannie Mae, Freddie Mac, and Ginnie Mae MSR portfolio with $736 million of unpaid principal balance, according to an announcement from MountainView Servicing Group, which is acting as adviser on the sale.

The average interest rate for a 30-year fixed-rate mortgage (FRM) slipped 7 basis points in the last week, settling at 3.59 percent (0.7 point) for the week ending February 5, Freddie Mac reported Thursday. "Mortgage rates fell this week following the release of weaker than expected pending home sales, which fell 3.7 percent in December," said Len Kiefer, deputy chief economist for Freddie Mac.

The refinance boom may be losing steam, but near-record low mortgage rates encouraged more borrowers to refinance in Q4, according to Freddie Mac's 2014 Q4 Refinance Report released Wednesday. Mortgagors who refinanced their loans in 2014 are projected to save on net a total of about $5 billion in interest over the next year, according to the report.