Archive for July, 2015


Magna joins Freddie Mac lending program

Meagan Nichols Staff Reporter Memphis Business Journal Enlarge ALAN HOWELL | MBJ Magna Bank Memphis-based Magna Bank will join a select list of multifamily lenders for a Freddie Mac initiative. Freddie Mac’s Small Balance Loan program chose nine lenders across the United States to help finance multifamily properties for loans valued at $1-$5 million on […]

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Derivative Gains Could Add $3 Billion To Freddie Mac’s Next Quarterly Earnings …

Holding everything else constant, Freddie Mac’s (OTCQB:FMCC) total comprehensive income could be as much as $3.0 billion higher than last quarter based on one item alone–derivative gains. Of course, everything else will not be constant, making Freddie Mac’s income for Q2 2015 hard to predict. Also, Freddie Mac’s total comprehensive income is swept to the […]

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K. Hovnanian makes it easy for Realtors to sell its properties

K. Hovnanian Homes is committed to working with the broker community. The company recognizes the importance of the broker market to the success of its new-home communities — and goes the extra mile to make it easy for agents to sell new K. Hovnanian homes, according to Barry McCarron, president of K. Hovnanian Homes Northeast […]

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Existing-Home Prices Hit Record: $236400

Prices of existing homes sold in the U.S. vaulted to a record high in June, topping the mark set in 2006, as sales increased at their strongest pace in more than eight years. The data suggest the housing market is rapidly gaining ground after years of contraction and, until recently, a halting recovery. The median […]

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Realtors Hire a New Agency to Educate Millennials About What, Exactly, They Do

Getty Images The National Association of Realtors has put out the welcome mat for Arnold Worldwide, hiring the Boston-based agency to handle creative, digital, brand activation and strategy following a review led by consultancy Select Resources International. The trade association, one of the nation’s largest, with more than 1 million members, spent slightly less than […]

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Rick Perry backs Glass-Steagall solution for Wall Street

Former Texas Governor Rick Perry is taking a position to Hillary Clinton’s left on financial reform, and pushing for a policy to break up big banks staunchly advocated by Sen. Elizabeth Warren (D-Mass.). The GOP presidential candidate laid out his vision for Wall Street reform in a speech Wednesday. And among his policy proposals, Perry […]

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Fitch Assigns Final Ratings to FREMF 2015-K47 Multifamily Mtg P-T Certs …

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has assigned the following ratings and Rating Outlooks for FREMF 2015-K47 Multifamily Mortgage Pass-Through Certificates and Freddie Mac Structured Pass-Through Certificates Series K-047. FREMF 2015-K47 Multifamily Mortgage Pass-Through Certificates –$149,241,000 class A-1 ‘AAAsf’; Outlook Stable; –$1,038,134,000 class A-2 ‘AAAsf’; Outlook Stable; –$1,187,375,000* class X1 ‘AAAsf’; Outlook Stable; –$1,187,375,000* class X2-A ‘AAAsf’; […]

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Freddie Mac selects Magna Bank as apartment lender

Magna Bank is one of nine lenders across the country selected to participate in Freddie Mac’s Small Balance Loan program for apartments. The loan program aids in the financing of $1 million to $5 million multifamily loans and is designed to support affordable rental housing. The program also targets the underserved, small rental property borrowers, […]

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Conforming Mortgage Rates Fall This Week: Freddie Mac

Print Email Reprints Comment Twitter LinkedIn Facebook Google+ There was a six-basis-point decline in the 30-year fixed-rate mortgage during the week ending July 30, Freddie Mac said in its latest weekly report. The 30-year FRM averaged 3.98%, down from 4.04% a week earlier, according to Freddie Mac’s Primary Mortgage Market Survey. This is down from […]

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Pending Home Sales Slip; Drop Most in South, Midwest

By Paul Ausick July 29, 2015 10:13 am EDT The National Association of Realtors (NAR) Monday morning released its data on pending sales of existing homes for June. The pending home sales index fell 1.8% to 110.3. Prior to today’s report the index had risen for five consecutive months. The June reading the third highest […]

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