Items Tagged with 'Freddie Mac'


  • Warren questions Kushner's $800 million Freddie Mac loan

    Asks if "special treatment" played a part in massive government-backed loan
    Sen. Elizabeth Warren, D-MA, recently called attention to a loan received by Kushner Cos., the real estate company owned by the family of Jared Kushner, son-in-law and advisor to President Donald Trump. In a letter to Freddie Mac CEO Donald Layton, Warren and Sen. Tom Carper, D-DE, questioned whether the $800 million Freddie Mac loan was pushed through because of the real estate company’s connection to Jared Kushner.
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  • Freddie Mac announces fixer-upper mortgage

    Funds can be used to buy fixer-uppers or renovate homes
    Freddie Mac is launching a new mortgage product that allows borrowers to buy a fixer-upper and finance the renovation all with one loan. The government-sponsored enterprise announced its new CHOICERenovation loan product on Wednesday, saying it’s available immediately to all approved lenders. The new product has a unique feature: it can be used to address or prevent damage from natural disasters.
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  • Moody's: Increased competition for Fannie, Freddie would be a credit negative

    Rates credit impact of Calabria's suggestions for GSE reform
    Last week, FHFA Director Mark Calabria outlined his GSE reform wish list for lawmakers in his first annual Report to Congress since taking the helm at the agency. In it, he urged Congress to take steps to increase competition for Fannie Mae and Freddie Mac. But Moody’s Investors Service says that move would amount to a credit negative for both agencies, although Calabria's other ideas are not so bad.
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  • WSJ: More buyers are using down payment assistance programs

    About 13% of borrowers using FHA loans in Q1 got help with down payments
    The bogeyman of the financial crisis is back. The use of down payment assistance programs, known as DAPs in the lending industry, doubled between 2013 and 2016, The Wall Street Journal said in a Sunday article that cited Freddie Mac analysis of the National Survey of Mortgage Originations.
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  • Cowen's Seiberg says concern about Mnuchin's GSE comment is overblown

    "There has been much teeth-gnashing this week," Seiberg says
    Treasury Secretary Steven Mnuchin started last week having dinner with the Queen of England as part of the entourage accompanying President Donald Trump to Buckingham Palace. A few days later, he made financial news by throwing cold water on plans to reform Fannie Mae and Freddie Mac. "There has been much teeth-gnashing this week after Treasury Secretary Steve Mnuchin said GSE reform cannot simply return Fannie and Freddie to their pre-conservatorship state," said Jaret Seiberg, Cowen’s managing director.
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  • Calabria to Congress: Fannie, Freddie reform is urgent, critical and overdue

    FHFA director's report to Congress makes pleading case to end GSE conservatorship
    FHFA Director Mark Calabria stressed the need to remove the GSEs from conservatorship to lawmakers, outlining the reforms he views as necessary in his first annual Report to Congress since taking the helm at the agency. Here’s what he wants Congress to do to "support sustainable homeownership."
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  • Mortgage rates stabilize at two-year low after the U.S. avoids a trade war with Mexico

    The 30-year fixed-rate mortgage holds steady at 3.82%
    This week, mortgage rates held at a two-year low after the U.S. government avoided a trade war with its neighbors to the south, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said easing trade tensions with Mexico have helped stabilize the nation's markets.
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  • Fannie, Freddie IPOs at least 3 years away, Raymond James analysts say

    "Preparatory steps" include rebuilding $200 billion to $250 billion in capital
    While the new head of the Federal Housing Finance Agency said last month he's considering an initial public offering of Fannie Mae and Freddie Mac as early as the first half of next year, Raymond James analysts are saying it's not likely to happen for three or four years. There's a long list of preparatory steps, and presidential politics could also play a role, according to the report.
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  • Freddie Mac: Mortgage rates nearly hit a 2-year low

    The 30-year fixed-rate mortgage averaged 3.82% this week
    Mortgage rates continued to slide this week, signaling to homeowners that now might be good time to refinance, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said with rates dipping below 4%, there are over $2 trillion of outstanding conforming conventional mortgages eligible to be refinanced.
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  • REITs eye opportunities in the mortgage market as government pulls back

    Real estate investment trusts are beefing up their mortgage-bond portfolios, WSJ says
    Real estate investment trusts have not typically been huge participants in the housing finance market, but it seems the tide is quickly turning. According to a recent article in The Wall Street Journal, mortgage REITs have beefed up their mortgage-bond portfolios by nearly 28% year over year as of March, boosting their total collective investment to $308 billion.
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