Archive for October, 2014


Fannie notes hint at future of mortgage market

JPMorgan Chase Co.’s sale of a new type of mortgage-linked bonds is the best glimpse yet into a possible future of the $9.4 trillion U.S. home-loan market. The $47 million of securities raised cash from investors this week that can be used to offset some of Fannie Mae’s losses on its mortgage guarantees. The transferring of risk from […]

Read More...

Fannie Mae Releases September 2014 Monthly Summary

WASHINGTON, Oct. 31, 2014 /PRNewswire/ — Fannie Mae’s FNMA, +3.35% September 2014 Monthly Summary is now available. The monthly summary report contains information about Fannie Mae’s monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications. Fannie Mae enables people to […]

Read More...

JPMorgan Tapped by Fannie Mae for New Risk-Sharing Bonds

JPMorgan Chase Co. (JPM)’s sale of a new type of mortgage-linked bonds is the best glimpse yet into a possible future of the $9.4 trillion U.S. home-loan market. The $47 million of securities raised cash from investors this week that can be used to offset some of Fannie Mae’s losses on its mortgage guarantees. The […]

Read More...

The former head of Fannie and Freddie predicts their demise

If the next Congress wants to accomplish something, it might take up the matter of Fannie Mae (FNMA) and Freddie Mac (FMCC), the federal housing agencies that effectively went bankrupt in 2008 and were rescued through a $187 billion taxpayer bailout. Fannie and Freddie are profitable now, and they’ve paid back all the taxpayer funds […]

Read More...

Fannie Mae and Freddie Mac must go

Say we didn’t hear that. Say we didn’t hear that rules for mortgages guaranteed by the taxpayers are going lax once again. Oh, but we did. For starters, the push is on to lower the minimum down payment required for Fannie Mae and Freddie Mac mortgages to only 3 percent. During the housing bubble, Fannie […]

Read More...

Fannie-Freddie’s Faith in FICO Tested by VantageScore

Barrett Burns has been lobbying Fannie Mae (FNMA) and Freddie Mac to adopt his credit-scoring system, VantageScore, for years. So when he spotted Mel Watt, the companies’ regulator, sitting in a Las Vegas hotel with his family, Burns didn’t hesitate to approach and make his pitch. “I said, ‘We’d be pleased to come down and […]

Read More...

Mortgage rates increase from 2014 low, Freddie Mac says

Mortgage rates rose this week from their lowest point in 2014, but lenders still offered a 30-year fixed loan below 4%, according to Freddie Mac’s weekly survey. The average rate on a 15-year fixed mortgage jumped to 3.13% from 3.08% last week.  Interest rates on a 30-year loan climbed to 3.98% from 3.92%, Freddie Mac […]

Read More...

Freddie Mac Forgoes Issuing a Reference Notes(R) Security on Its October 30, 2014 Announcement Date

MCLEAN, VA–(Marketwired – Oct 30, 2014) –  Freddie Mac (OTCQB: FMCC) announced today that it will forgo issuing a Reference Notes® security on its October 30, 2014 announcement date. The company’s 2014 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities.  This announcement is not an offer to […]

Read More...

Fannie Mae and Freddie Mac must go

Say we didn’t hear that. Say we didn’t hear that rules for mortgages guaranteed by the taxpayers are going lax once again. Oh, but we did. For starters, the push is on to lower the minimum down payment required for Fannie Mae and Freddie Mac mortgages to only 3 percent. During the housing bubble, Fannie […]

Read More...

Freddie Mac Announces Q-Deal, New Multifamily Securities Offering

MCLEAN, VA–(Marketwired – Oct 30, 2014) – Freddie Mac (OTCQB: FMCC) today announced a new type of Multifamily mortgage- backed security, Q Certificates, which are Structured Pass-Through Certificates (SPC) backed by multifamily loans not underwritten by Freddie Mac at the time of origination but that meet the company’s current underwriting standards. The company expects to […]

Read More...