One issue for would-be homebuyers seeking jumbo mortgages is that rates haven’t come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie Mae and Freddie Mac. Continue reading
Regulators and prosecutors are cracking down on landlords who’ve been falsifying income and expense data on crucial loan documents, according to a new feature published by “The Wall Street Journal.” Continue reading
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans. Nonbank lenders have already made inroads into the business. Continue reading
Freddie Mac Executive Vice President and Chief Financial Officer Christian Lown will be taking his talents to CoStar Group in July, executives announced. Lown departs Freddie Mac on June 28. Continue reading
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading
Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65 percent in April, and Q1 2024 GDP growth revised downward to 1.3 percent. Continue reading
Nation’s largest mortgage lender says brokers “will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication.” Continue reading
Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer’s agents’ commissions. Continue reading
In a pilot program announced last week, the Biden administration cleared the way for Fannie Mae and Freddie Mac to let some homeowners refinance mortgages without paying for title insurance. Continue reading
Fannie and Freddie’s federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models. Continue reading