The financial reform bill enacted last week is a significant step toward a much-needed modernization of our regulatory structure. It will provide tools to help mitigate and manage the next financial crisis. But the job remains unfinished until Congress addresses the housing policies that fueled the crisis — a big part of which requires reforming [...]
Posts Tagged ‘Freddie Mac’
Housing policy must be set on sustainable basis
July 29th, 2010 by Mortgage Writer
Tags: fannie mae, Federal Housing, financial crisis, financial system, Freddie Mac, mortgage finance, mortgage rates
more...Refinancing mortgage often smart even if you have to pay
July 27th, 2010 by Mortgage Writer
At the height of the housing boom, refinancing was doubly rewarding: You could lower your monthly payment and extract some cash to spiff up the kitchen.
With mortgage rates at record lows, refinancing still offers the promise of lower monthly payments. But forget about that Sub-Zero refrigerator. Instead of taking cash out, you may have to [...]
Tags: borrowers, economists, Freddie Mac, interest rates, investment, loans, mortgage lenders, mortgage rates, private mortgage, stock markets
Geithner: U.S. Should Retain a Mortgage Backstop
July 26th, 2010 by Mortgage Writer
Treasury Secretary Timothy Geithner said Sunday the government should retain “some type” of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.
The statement cuts to the heart of [...]
Tags: borrowing, fannie mae, financial crisis, Freddie Mac, home loans, homeowners, housing market, investors, mortgage, tax credit
Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
July 21st, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 [...]
Tags: bank of america, economists, fannie mae, Federal Housing, financial market, Freddie Mac, housing market, investors, loan, money, mortgage bonds, mortgage securities, subprime mortgages, tax credit, treasurys, wall street
Mortgage Rates Mostly Flat; 30Yr Fixed Stays At 4.57% -Freddie
July 15th, 2010 by Mortgage Writer
Mortgage rates were largely flat the past week, with the average rate on 30-year fixed-rate mortgages remaining at a record low, according to Freddie Mac’s (FMCC) weekly survey of mortgage rates.
Rates remain at or near record lows as the Treasury market has rallied amid stock-market skepticism, pushing yields down. Mortgage rates generally track Treasury yields.
The [...]
Tags: fixed rates, Freddie Mac, home loans, housing market, interest rates, loan, money, mortgage, mortgage lenders, mortgage payment, mortgage rates, mortgages, real estate, treasury, treasurys
FHFA Subpoenas Firms That Sold Debt to Fannie Mae, Freddie Mac
July 13th, 2010 by Mortgage Writer
The Federal Housing Finance Agency subpoenaed firms that sold mortgage-backed securities to Fannie Mae and Freddie Mac as the regulator aims to determine whether issuers can be held liable for losses on the debt.
FHFA, which has overseen the government-sponsored mortgage companies since they were placed under conservatorship in September 2008, issued 64 subpoenas seeking loan [...]
Tags: fannie mae, Federal Housing, FHA, Freddie Mac, jpmorgan, mortgage backed securities, mortgage market, subprime mortgages
Mortgage Rates Lowest in Decades Yet Sales Plummet
July 12th, 2010 by Mortgage Writer
Record breaking mortgage rates are not enough to spark the US real estate market..
Freddie Mac announced last week that the average thirty year fixed mortgage rate is down to 4.57 percent, but that was not enough to entice Americans into buying homes.
April marked the end of the federal tax break incentive and sales were greatly [...]
Tags: economic recovery, federal reserve, financial market, Freddie Mac, housing market, interest rates, money, mortgage lending, mortgage loans, mortgage rates, real estate, US Economy
Freddie: 30-year fixed-rate mortgage at record low
July 8th, 2010 by Mortgage Writer
Treasury-indexed ARM rates more than a percentage point lower than a year ago
The 30-year fixed-rate mortgage has hit a record low, ticking down to an average 4.57% in week ended July 8, compared with 4.58% in the prior week, Freddie Mac reported Thursday.
To obtain the latest rate, the mortgage required payment of an average 0.7 [...]
Tags: economists, fixed rates, foreclosure, Freddie Mac, home loans, housing market, money, mortgage, mortgage rates, subprime mortgages
Signs of Improvement Are Fleeting for Mortgage Delinquencies
July 7th, 2010 by Mortgage Writer
After several months of improvement, mortgage delinquencies rose in May, according to loan data tracked by research firm LPS Applied Analytics.
Nearly 9.2% of all loans were 90 days or more past due at the end of May, up from 9% one month earlier. Those numbers exclude the share of loans in foreclosure, which remained unchanged [...]
Tags: economic recovery, FHA, financial crisis, foreclosures, Freddie Mac, home loans, housing market, investors, mortgage delinquency, mortgage payments, mortgages, real estate, tax credit
Record low mortgage rates spur high interest in refinancing, sales
June 27th, 2010 by Mortgage Writer
Interest rates are falling to hitherto-unseen lows, thanks to a persistently volatile stock market and the ongoing debt crisis in Europe.
In fact, rates fell last week to their lowest level on record, fueling consumer incentives to lock in low payments for home purchases and refinanced loans.
The average rate for 30-year fixed loans sank to 4.69 [...]
Tags: debt crisis, financial market, Freddie Mac, housing market, interest rates, mortgage rates, stock markets, unemployment
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