Tag Archives: Freddie Mac

As the spring homebuying season comes to a close and Americans cope with the uncertain after effects of the Greek crisis on the economy, the U.S. Treasuries lowered average fixed mortgage rates down to 4.04 percent, according to Freddie Mac's Primary Mortgage Market Survey (PMMS) results.

Freddie Mac has added another innovation to its suite of credit risk transfer offerings. According to a recent press release, the Enterprise added its first two Agency Credit Insurance Structure (ACIS) transactions that provide coverage based on both first loss and actual losses realized on a reference pool of residential mortgages.

Freddie Mac, Fannie Mae, and Common Securitization Solutions, LLC (CSS) jointly announced on Wednesday the development of an Industry Advisory Group. The group will provide feedback and share information on efforts to build the Common Securitization Platform (CSP) and implement the Single Security.

The average fixed mortgage rates have reached new 2015 highs, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). According to the survey, the 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.6 point for the week ending July 2, 2015. This is an increase from last week when it averaged 4.02 percent.

Fannie Mae and Freddie Mac CEOs are expected to get multimillion-dollar increases to their paycheck approved by the GSE’s regulator, the Federal Housing Finance Agency (FHFA), according to recent 8K Filings (Mayopoulos and Layton) with the U.S. Securities and Exchange Commission (SEC). On June 29, 2015, the FHFA approved changes to the compensation of Fannie Mae’s CEO Timothy J. Mayopoulos, and Freddie Mac’s CEO Donald H. Layton to address recent objectives outlined by the FHFA. Both salary adjustments will go into effect on July 1, 2015.

Under the Housing and Economic Recovery Act of 2008 (HERA) requirements, the Federal Housing Finance Agency (FHFA) is obligated to submit an annual report to Congress concerning Fannie Mae’s and Freddie Mac’s guarantee fees. According to the FHFA report, the average level of guarantee fees charged has increased since 2009, when the report began. The guarantee fees are now two-and-a-half times their previous level from 2009 to 2014.

Freddie Mac, Fannie Mae, and the FHLBanks experienced a substantial increase in their net income for the first quarter. The Federal Housing Finance Agency (FHFA) released the Quarterly Performance Report of the Housing GSEs today analyzing the first quarter earnings and other contributing factors that boosted these GSEs’ incomes.

More than half of the states plus the District of Columbia, along with more than a third of the nation's largest metro areas, were categorized as in the "stable" range in April on the strength of a healthy spring homebuying season, according to Freddie Mac's April 2015 Multi-Indicator Market Index (MiMi) released Wednesday.

Earlier this month, Freddie Mac announced that it would offer its Loan Prospector underwriter system free of charge as of June 1, 2015. Today, Fannie Mae matched Freddie Mac’s offer and announced that it will eliminate fees on its Desktop Underwriter automated underwriting system and Desktop Originator tool.

In Freddie Mac’s most recent Primary Mortgage Market Survey (PMMS) the rates for average fixed mortgages dropped from last week’s unusual high. The Government-Sponsored Enterprise reported that the 30-year fixed rate mortgage (FRM) averaged 4.0 percent with an average 0.7 point for the week ending June 18, 2015.