WASHINGTON — A federal regulator says government-controlled mortgage giants Fannie Mae and Freddie Mac have reached an agreement with major banks that could expand lending. The head of the Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the ...Read More »
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WASHINGTON — Average U.S. mortgage rates declined slightly this week, hovering near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan slipped to 4.12 percent from 4.13 percent last week. ...Read More »
NEW YORK — A federal judge imposed a $1.3 billion civil penalty against Bank of America on Wednesday for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments. The fine was ...Read More »
In his first remarks since taking office as director of the Federal Housing Financing Agency, former Charlotte congressman Mel Watt indicated a shift in policy that may make more loan money available to borrowers. As the regulator in charge of ...Read More »
A third of the nation’s U.S. senators have sent a letter to Mel Watt, the new head of the Federal Housing Finance Agency and a former U.S. congressman from Charlotte, asking him to use funds from Fannie Mae and Freddie ...
Tagged with: affordable housing for low-income families Barbara Boxer Capital Magnet Fund Fannie Mae Federal Housing Finance Agency Freddie Mac Harvard Joint Center for Housing Studies Mel Watt NAtional Housing Trust FundRead More »
In recent weeks, there has been a noticeable drop in home sales in certain areas. This has raised the level of concern of many consumers who think this is a trend that might spark another major downturn in the real ...Read More »
Come Jan. 10, it may become more difficult for homeowners to obtain a mortgage. That’s when a host of new rules come into effect. Most notable among the changes for borrowers will be the ability-to-repay and qualified mortgage rules that ...
Tagged with: American BAnkers Association Bank of America Consumer Federation of America Consumer Financial Protection Bureau Dodd-Frank Wall Street Reform and Consumer Protection Act Elizabeth Eurgubian Fannie Mae Freddie Mac Independent Community Bankers of America Mel Watt Richard Cordray Terry FranciscoRead More »
Strong increases in both single-family and multifamily starts raised our nationwide housing production 22.7 percent to a seasonally adjusted annual rate of 1.09 million in November, according to figures released by the Department of Housing and Urban Development and the ...
Tagged with: David Crowe Department of Housing and Urban Development Fannie Mae Federal Housing Finance Agency Freddie Mac Jim Woodard MSM Market Trends National Association of Home Builders November 2013 Zillow Report Real Trends rick judson U.S. Census Bureau Zillow Home Value IndexRead More »
WASHINGTON — Average U.S. rates for fixed mortgages crept higher this week but remained low by historical standards. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 4.48 percent from 4.47 percent last week. ...Read More »
The interest rate for a large jumbo mortgage is now less than the rate for a smaller conventional loan. The increase in rate for conventional loans, combined with banks seeking jumbo mortgages for their portfolios, has created a situation in ...
Tagged with: Bill Banfield conventional loan Fannie Mae Federal Housing Administration Federal Housing Finance Agency Freddie Mac interest rate Jim Woodard jumbo mortgage Mutual Mortgage Insurance Fund NAtional Mortgage NEws Quicken Loans real estate websiteRead More »