Freddie Archives

Republicans tell FHFA they oppose Freddie Mac’s closed-end second mortgage proposal

May 25, 2024 mpsingh No Comments Real estate closed-end seconds, closedend, Congress, FHFA, Freddie, House of Representatives, HWmember, Macs, Mortgage, Oppose, proposal, Republicans, Senate

On Wednesday, the FHFA closed the comment period for the proposal, which was opened in April. In their letter, Republicans called the 30-day period “insufficient.” If the product is approved as proposed, it will have terms of up to 20 years, be manually underwritten and remain in Freddie Mac’s portfolio for six to nine months [...]read moreRepublicans tell FHFA they oppose Freddie Mac’s closed-end second mortgage proposal

‘Not HELOC. Not piggyback.’ Freddie Mac exec defends new product proposal amid resistance

May 24, 2024 mpsingh No Comments Real estate closed-end seconds, defends, exec, Featured Homepage, Freddie, Freddie Mac, HELOC, Home Equity, HWmember, Mac, piggyback, product, proposal, resistance

“What we are bringing forward, called closed-end second lien, assuming a FHFA approval, will provide them an alternative to the cash-out refi,“ he said. “If someone has a $300,000 mortgage and wants to get $50,000 out, they don’t have to reprice their whole first home mortgage to the rates currently at 7%.“ Mittal spoke to HousingWire on [...]read more‘Not HELOC. Not piggyback.’ Freddie Mac exec defends new product proposal amid resistance

Freddie Mac’s controversial gambit into home equity: Is more liquidity a bad thing?

Peter Van Gelderen, co-head of Global Securitized at TCW, a leading global asset management firm, said this means there could potentially be two new and unique products unveiled on the agency side: CES loan purchases and a related credit-risk transfer product designed to shift some of the agency CES risk to private investors. “In the current [...]read moreFreddie Mac’s controversial gambit into home equity: Is more liquidity a bad thing?

‘Nothing’s Changed’ About Fannie, Freddie Commission Rules: Lamacchia

April 23, 2024 mpsingh No Comments Real estate changed, Commission, Fannie, Freddie, Lamacchia, Nothings, rules

At Inman Connect Las Vegas, July 30-Aug. 1 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. Some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac this week that confirms sellers can [...]read more‘Nothing’s Changed’ About Fannie, Freddie Commission Rules: Lamacchia

Freddie Mac’s proposed home equity product could unlock $850B in originations

April 19, 2024 mpsingh No Comments Real estate 850B, Bank of America, Equity, Federal Housing Finance Agency, Freddie, Freddie Mac, HELOCs, Home, Home Equity, Macs, originations, product, Proposed, Unlock

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. But it could face challenges due to the lack of a robust securitization market, according to strategists at Bank of America (BofA). On Tuesday, the Federal Housing Finance Agency (FHFA) announced a request for [...]read moreFreddie Mac’s proposed home equity product could unlock $850B in originations

Proposal would allow Freddie Mac to acquire closed-end second mortgages

April 17, 2024 mpsingh No Comments Real estate acquire, closedend, FHFA, Freddie, Freddie Mac, Government-Sponsored Enterprise, Mac, mortgages, proposal

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This would offer borrowers an alternative way to access their home equity without surrendering a first mortgage with a more favorable interest rate than [...]read moreProposal would allow Freddie Mac to acquire closed-end second mortgages

Escalating insurance costs deepen housing affordability crunch: Freddie Mac

March 26, 2024 mpsingh No Comments Real estate affordability, costs, Crunch, deepen, Escalating, Freddie, Freddie Mac, Housing, insurance, Mac, Natural Disaster

Fueled by a surge in mortgage rates, owning a home has become increasingly expensive. According to a Freddie Mac housing and mortgage market report released Monday, while mortgage payments remain the primary pressure point for homeowners, insurance costs are emerging as a growing burden. Homeowners insurance costs, though still much smaller than mortgage principal and [...]read moreEscalating insurance costs deepen housing affordability crunch: Freddie Mac