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
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...two behemoths of the mortgage business -- Fannie Mae and
Freddie Mac -- continue to use a credit scoring model that even...
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Freddie Mac extended a mortgage refinance program by another year. (more&hellip...
To finance its $620 million purchase of Kips Bay Court, Blackstone Group plans to assume the existing $200.1 million Fannie Mae mortgage and will not...
...a percentage point higher or more?
In July, according to
Freddie Mac, 30-year fixed rates dropped to an average of 3.41 percent, just...
A nonprofit representing low-income New Yorkers filed a lawsuit against the federal department of housing and urban development and private fund manager Lone Star Funds,...
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To close the deal, Fairstead secured a $238.9 million
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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Erroneous or outdated negative items on your credit report can be deal killers — or at least deal delayers — when you’re trying to purchase...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...
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...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
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60 East 93rd Street
William R. Lucas Realty
Prudential Mortgage Capital Company,
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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