Items Tagged with 'FRE'

ARTICLES

  • Freddie Outsources REO Disposition Services

    Real estate valuation services provider PCV Murcor said Tuesday its subsidiary renewed a service agreement with mortgage giant Freddie Mac [stock FRE][/stock]. Under Vender Resource Management's (VRM) renewed agreement with Freddie's real-estate owned (REO) sales unit -- Freddie Mac HomeSteps -- it continues to provide loss mitigation and REO disposition services to one of the largest residential  mortgage investors. The partnership provides Freddie with services designed to reduce an asset's time on the market while preserving value in the sales price.
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  • Freddie Mac's Stock May be Delisted from NYSE

    Freddie Mac [stock FRE][/stock] said Friday morning in a filing with the Securities and Exchange Commission that the company was notified by the New York Stock Exchange that it had failed to satisfy one of the NYSE's standards for continued listing of its common stock -- in particular, the so-called $1 dollar rule.
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  • Mortgage Rates Sit Tight

    Mortgage rates moved little this week, according to Freddie Mac [stock FRE][/stock] on Thursday morning, with the 30-year fixed-rate mortgage averaging 6.37 percent with an average 0.6 point for the week ended July 10, up a mere 2 basis points from last week when it averaged 6.35 percent. Last year at this time, the 30-year FRM averaged 6.73 percent, Freddie said.
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  • Fixed Mortgage Rates Rise Only Slightly

    The Federal Reserve isn't the only financial entity in a holding pattern, as mortgage rates sat tight for the most part this week amid speculation over the role inflation will play in coming month. According to Freddie Mac's [stock FRE][/stock] weekly primary mortgage market survey, released Thursday morning, average rates on a 30-year fixed-rate mortgage were at 6.45 percent with an average 0.6 point for the week ending June 26, 2008. That's up slighly from one week earlier, when rates averaged 6.42 percent, and the highest since late August of last year.
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  • Freddie to Issue Reference REMIC for June

    Some good news for secondary market participants arrived late Monday, with Freddie Mac [stock FRE][/stock] saying it would look to issue a Reference REMIC security in June. The GSE did not provide details regarding the size of the expected issuance
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  • Triad Sees MI Approval Suspended by Freddie Mac

    Freddie Mac [stock FRE][/stock] has suspended its approval of Triad Guaranty Inc. [stock TGIC][/stock] as a private mortgage insurer, but the North Carolina-based MI provider will continue to write policies on Freddie Mac mortgage pending an appeal, the company said Thursday afternoon in an announcement.
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  • Could Freddie See a Ratings Drop?

    Moody's Investors Service said late Wednesday that it had placed Freddie Mac's Bank Financial Strength Rating (BFSR) on review for a possible downgrade (subscription req'd), citing a concern that the GSE may experience higher credit losses than previously expected. Freddie currently has a BFSR of 'A-,' Moody's second highest rating for the category.
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  • Fannie, Freddie Reach Record MBS Share During Fourth Quarter

    Fannie Mae and Freddie Mac accounted for a record 76.1 percent of new mortgage-backed securities issuance in the fourth quarter of 2007, according to a report published Wednesday by Inside Mortgage Finance. The GSEs combined for 56.9 percent of all MBS issuances during 2007, up from 39.9 percent one year ago. IMF reports that the GSEs last enjoyed a dominant market position in MBS issuances in 2003, when the previous record of 70.4 percent was set.
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  • Freddie Mac Settles SEC Fraud Charges, Will Pay $50 Million

    Freddie Mac said late yesterday that it has agreed to a $50 million civil penalty to settle SEC charges of securities fraud in connection with improper earnings management at the GSE beginning as early as 1998 and lasting into 2002. As part of the settlement agreement, Freddie Mac neither admitted nor denied any wrongdoing.
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