Tag Archives: Freddie Mac

In a meeting with reporters on Wednesday, Mel Watt, former U.S. representative and chief of the Federal Housing Finance Agency (FHFA) since December 2013, discussed a number of key issues facing the GSEs and the agency, touching on topics ranging from recently introduced low down payment programs to the often debated subject of principal reduction for struggling homeowners.

Bank of America was ordered to pay a $1.27 billion penalty in July 2014 as a result of its alleged role in the "Hustle" case. The bank had been fighting to overturn that verdict since, claiming that the HSSL program ended prior to its acquisition of Countrywide.

The proposed requirements include minimums for net worth, capital ratio, and liquidity criteria that must be met by servicers and sellers to do business with the GSEs.

The mortgage portfolio expanded by 4.5 percent—an increase of $7.14 billion—up to an estimated $1.91 trillion in December. It was the highest annualized growth rate for any one month seen in Freddie Mac's portfolio since December 2009, when it grew by 5.7 percent.

Judge Margaret Sweeney denied the government's attempt to stay court proceedings in the case, gaining a victory for Fairholme Funds and its CEO, Bruce Berkowitz, who sued the government in 2013 over the sweeping of GSE profits into the U.S. Department of Treasury.

Freddie Mac's monthly Multi-Indicator Market Index (MiMi) improved 0.35 percent month-over-month in November to a reading of 74.7, the company reported Wednesday. A reading between 80 and 120 is considered to be a sign of a stable market.

After more than a quarter of a century spent working for Freddie Mac, Frank Nothaft has moved on to serve as SVP and chief economist at CoreLogic, the property information firm announced.

A U.S. District judge denied the U.S. Department of Treasury's motion to strike Pershing Square Capital Management's voluntary dismissal of a lawsuit it filed in August over misappropriation of government funds.

Falling interest rates and demand for hybrid offerings were once again among the most dominant trends in the adjustable-rate mortgage (ARM) market in the last year, according to a recent survey.

Freddie Mac's weekly Primary Mortgage Market Survey saw a slight drop in the 30-year fixed rate to an average 3.63 percent (0.7 point) for the week ending January 22, the company reported Thursday. With the decline, the 30-year fixed-rate mortgage (FRM) remains at its lowest average since May 2013.