Freddie Mac (OTCQB: FMCC) announced the availability of new, standardized mortgage documents designed to standardize down payment assistance (DPA) programs. Traditionally, subordinate lien documents were tailored to specific housing finance agencies (HFAs). In offering standardized […]
Freddie Mac rolled out standardized subordinate lien documents for subordinate mortgages offered by down payment assistance (DPA) providers to facilitate easier and greater use of DPA program. Historically, subordinate-lien documents for various DPA programs have […]
Freddie Mac will launch a new fee-based repurchase alternative pilot program for performing loans in 2024, designed to improve the quality of performing loans through a potential replacement of its current repurchase policy for defective […]
Freddie Mac (OTCQB: FMCC) announced the appointment of Lance Drummond as chairman of its board of directors. He will succeed Sara Mathew, who will retire from the board next February.as Board chair and as a […]
Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since […]
Mortgage rates kept climbing for the fifth consecutive week, bringing average year-over-year rates 60 basis points higher. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, […]
Freddie Mac on Friday announced that Michael DeVito will retire as CEO in the first quarter of 2024 after less than three years in the job. DeVito has communicated his intention to the board of directors, […]
Freddie Mac on Wednesday announced that company veteran Peter Lillestolen will serve as vice president, production and sales of Targeted Affordable Housing (TAH) at Freddie Mac Multifamily. Lillestolen, a 12-year veteran of the government-sponsored enterprise […]
Appraisal modernization is a hot topic right now, but updating the appraisal process is easier said than done. The process today is limited by a number of structural constraints, according to Scott Reuter, Single-Family chief […]
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, Freddie Mac has released its 2023 Stress Test Disclosure, which reflects two hypothetical economic scenarios, including a “severely adverse” scenario. Under the latter, […]
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