The Federal Home Loan Mortgage Corporation is a government-sponsored enterprise charged by Congress since 1970 with expanding the secondary market for residential mortgages in the United States and its territories. It does this primarily through buying mortgages on the secondary market, pooling them and selling them as mortgage-backed securities. This ups the supply of money for new mortgage and increases the availability of money for home purchases.
This purchasing and pooling of mortgage-backed securities was blamed for a good portion of the 2008 recession and housing collapse. Too many mortgage securities backed by Freddie Mac collapsed or did poorly, costing the agency billions; these costs were passed on to taxpayers, further hurting Freddie Macs reputation with the public.
Headed by CEO Donald Layton since May 2012, the publicly traded enterprise based in Fairfax County, Va., still does a brisk trade that underlies much of the U.S. mortgage markets: $80.64 billion in revenue in 2012, with more than $1.9 trillion in assets. -TA
...In a boost to highly leveraged homeowners, Fannie Mae and Freddie Mac extended a mortgage refinance program by another year. (more&hellip...
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...a percentage point higher or more?
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Think of them as back-room surcharges that increase what you pay when you get a conventional home mortgage. They can also kill your loan application...
...wants to turn the government-backed mortgage giants Fannie Mae and Freddie Mac into lender-owned insurance companies.
Edward DeMarco, who ran the agency...
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Erroneous or outdated negative items on your credit report can be deal killers — or at least deal delayers — when you’re trying to purchase...
From the Los Angeles website: For bankers these days, mitigating risk is everything. That’s why jumbo mortgages, the heftier-than-average loans with stringent underwriting requirements, have...
...s role in selling toxic mortgages to Fannie Mae and Freddie Mac in the buildup to the 2008 financial crisis.
On Monday, a...
Are you a “transactor” or a “revolver” when it comes to your credit? Terms like these never have mattered much to home buyers seeking a...
...From left: Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton
If you're planning to buy a home...
For years it was widely considered a massive, government-sanctioned rip-off of home mortgage borrowers. Then it was banned by the Consumer Financial Protection Bureau. And...
...recently released paper proposes how to reform Fannie Mae and Freddie Mac: merge them.
After the financial crisis in 2008, both mortgage giants...
JPMorgan Chase is dipping back into the mortgage-backed securities market in the banking giant’s first “house transaction” since the financial crisis. JPMorgan is expected to...
...secured $49.5 million in financing from Prudential Mortgage Capital Company and Freddie Mac for the 438-unit Rutland Road Houses in Brownsville.
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Federal housing policy makers and mortgage lending groups have been talking about expanding access to home loans for greater numbers of credit-worthy buyers for more...
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...in the event of another mortgage crisis, Fannie Mae and Freddie Mac are planning to ramp up the sale of new types...
60 East 93rd Street
William R. Lucas Realty
Prudential Mortgage Capital Company, Freddie Mac
The company secured a $49.5 million $12.6 million will fund acquisition costs, $23.6 million will go toward building loan costs, and $13.3 million toward project loan costs.
79 Sherman Avenue
Party 1 Brokerage
A $2.1 million loan was arranged to refinance the property. Freddie Mac has been a lender on the building since 1987 when it provided an $825,000 mortgage. CPC refinanced this mortgage in 1996 with a new $1.15 million Freddie Mac loan. Two 5-story mixed-use buildings. Includes 152 Dyckman Street.
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U.S. mortgages rates rose to its highest levels so far in 2015 during the final week of May. The average rate for a 30-year fixed...