Lawmakers might ask why Freddie Mac, the home finance giant, has given Equifax an edge over capable rivals in a system that checks buyers’ credit.
This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Freddie Mac, a US government agency that funds mortgages for lenders, has partnered EarnUp, a fintech that helps...Show More Summary
How would Botticelli’s Birth of Venus appear if it were painted as a cerebral cortex? Would you eat a Big Mac covered in an old man’s face? What if Freddy Krueger was composed not of mottled flesh, but Dunkin’ Donuts? These are the questions that, one can only imagine, kept digital artist Chris Rodley up at night. Show More Summary
Long-term mortgage rates ticked up slightly this week as the average 30-year fixed-rate mortgage rose to 3.85 percent from 3.83 percent a week ago. Mortgage buyer Freddie Mac says the … Click to Continue »
Freddie Mac reported that the Single-Family serious delinquency rate in August was at 0.84%, down from 0.85% in July. Freddie's rate is down from 1.03% in August 2016.Freddie's serious delinquency rate peaked in February 2010 at 4.20%. Show More Summary
Some of the housing industry’s largest trade groups reportedly want housing finance agencies Fannie Mae and Freddie Mac to look at using new types of credit scores for assessing default risk on residential mortgages. The post Experian, Equifax & TransUnion want to sell you new mortgage credit scores was originally published at The Wall Street Examiner. Follow the money!
Lenders Freddie Mac and Fannie Mae, as well as the federal government, have programs to help homeowners affected by natural disasters.
As of Sept. 1, Fannie Mae and Freddie Mac will no longer require appraisals on many of the loans that they buy. Because the two GSEs (government-sponsored enterprise) buy about half the mortgages originated in America, this is big news that will make buying a home easier and less expensive...
Treasury Secretary Steven Mnuchin said plans for overhauling Fannie Mae and Freddie Mac won't be addressed until next year, adding that he expects the companies to continue turning over their profits to the government. More work needs to be done to fix the two mortgage giants at the heart of the U.S. Show More Summary
What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: Still at the second lowest level since the presidential election, the 30-year fixed rate was unchanged from last week, remaining at 3.78 percent. Ditto for the 15-year fixed, also remaining at the […]
Freddie Mac’s weekly survey of mortgage rates reveals that last week interest rates remained at 2017 lows. From Freddie Mac’s Prime Mortgage Market Survey: Attributed to Sean Becketti, chief economist, Freddie Mac. “Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week. The 30-year mortgage rate, however, remained unchanged […]
Long-term U.S. mortgage rates were unchanged this week, leaving the average 30-year fixed mortgage rate at the lowest level this year. Mortgage buyer Freddie Mac says the 30-year fixed mortgage … Click to Continue »
Freddie Mac reported that the Single-Family serious delinquency rate in July was at 0.85%, unchanged from 0.85% in June. Freddie's rate is down from 1.08% in July 2016.Freddie's serious delinquency rate peaked in February 2010 at 4.20%. Show More Summary
Freddie Mac released their weekly Prime Mortgage Market Survey today announcing that mortgage rates hit 2017 lows. The PMMS is based on average rates for conforming mortgages from last week. The rates do not include closing cost and are priced with 0.5 point. From the PMMS: Attributed to Sean Becketti, chief economist, Freddie Mac. “The […]
The benchmark 30-year mortgage rate is at new low for the year, touching its lowest level since last November. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate … Click to Continue »
When real estate broker Hank Miller explains the mortgage process to buyers, he gives it to them straight. "It's going to be the biggest pain in the ass that you've been through," he says. Freddie Mac and Fannie Mae, government-owned entities that buy a large share of U.S. mortgages from lenders, are taking a big step toward alleviating this pain...
Fannie and Freddie reported results last week. Here is some information on Real Estate Owned (REOs).Freddie Mac reported the number of REO declined to 9,915 at the end of Q2 2017 compared to 13,284 at the end of Q2 2016.For Freddie, this is down 87% from the 74,897 peak number of REOs in Q3 2010. Show More Summary
According to the results from the annual stress test of Fannie Mae and Freddie Mac released today by their regulator, the Federal Housing Finance Agency, the “GSEs” which were nationalized a decade ago in the early days of the crisis, The post Fannie Mae, Freddie Mac May Require $100 Billion In A New Crisis was originally published at The Wall Street Examiner. Follow the money!
Freddie Mac’s PMMS (Prime Mortgage Market Survey) shows the 30 year fixed rate averaged just under 4% last week at 3.93% priced with 0.500 points. Tomorrow morning, the Jobs Report will be released which may impact rates for better or worse. Stay tuned! If I can help you with your refinance or home purchase anywhere […]
Long-term U.S. mortgage rates were little changed this week after declining for two straight weeks. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages inched up to 3.93 … Click to Continue »