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Statement By Freddie Mac CEO Charles E. Haldeman, Jr. on the Administration’s Report on...
McLean, VA – The Administration should be commended for the considerable thought and effort it put into its plan to reform America's housing finance system. Clearly they understand the key issues and the need for private sector capital to return to the housing market. We at Freddie Mac will continue enhancing our infrastructure, business processes and technology to become the kind of stronger, more efficient company that can play a productive role no matter what policymakers decide about our future
VA & HUD Issue First-Ever Report on Homeless Veterans
WASHINGTON, DC - February 11, 2011 - (RealEstateRama) -- For the first time, the Department of Veterans Affairs (VA) and the Department of Housing and Urban Development today published the most authoritative analysis of the extent and nature of homelessness among Veterans. According to HUD and VA’s assessment, nearly 76,000 Veterans were homeless on a given night in 2009 while roughly 136,000 Veterans spent at least one night in a shelter during that year.
FTC’s Mortgage Assistance Relief Services Advance Fee Ban Takes Effect
WASHINGTON, D.C. - February 10, 2011 - (RealEstateRama) -- The advance fee ban under the FTC’s Mortgage Assistance Relief Services (MARS) Rule is designed to protect financially distressed homeowners from mortgage relief scams that have sprung up during the mortgage crisis.
Enterprise Named Freddie Mac Targeted Affordable Housing Lender
Columbia, MD - February 10, 2011 - (RealEstateRama) -- Enterprise Community Investment, Inc. (Enterprise ), a national leader in affordable housing and community development, today announced that Freddie Mac (OTC: FMCC) has given the company approval to originate affordable multifamily loans nationally on its behalf.
30-Year Fixed-Rate Mortgage Rates Rise to 5.05 Percent Highest Level Since April 2010
McLean, VA - February 10, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long- and short-term rates rising this week.
GSE Structures Must Protect Taxpayers and Ensure Mortgage Availability, Says NAR
WASHINGTON, DC - February 10, 2011 - (RealEstateRama) -- Continued government participation in the secondary mortgage market is essential to ensuring affordable and available home mortgages to qualified consumers when private lenders withdraw from the market, according to the National Association of Realtors®’ recommendations for restructuring the government-sponsored enterprises (GSEs)
Joseph A. Smith, Jr. to Address the NMLS User Conference
Orlando, FL - February 9, 2011 - (RealEstateRama) -- Joseph A. Smith, Jr., North Carolina Commissioner of Banks, will address the Nationwide Mortgage Licensing System and Registry (NMLS) User Conference & Training today on the future of state mortgage regulation
Mortgage Applications Decrease as Rates Jump in Latest MBA Weekly Survey
WASHINGTON, D.C. - February 9, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 4, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.9 percent compared with the previous week.
MBA Honors Catherine Rodewald of Prudential MortgageCapital Company with 2011 CREF Distinguished Service Award
San Diego, CA - February 9, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today awarded Catherine Rodewald, Vice President of Prudential Mortgage Capital Company, with the CREF Distinguished Service Award at the Association's 21st Annual Commercial Real Estate Finance (CREF)/Multifamily Housing Convention & Expo held in San Diego, CA. The award was given to Rodewald in recognition of her dedication and prominent service to MBA and the mortgage lending industry.
REAL ESTATE MORTGAGE NETWORK, INC., WELCOMES GREG JANICKI AS SOUTHEAST REGIONAL MANAGER
ATLANTA, GA - February 8, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a national mortgage lender based in River Edge, N.J., announced today the appointment of Greg Janicki to the position of southeast regional manager. Janicki will be reporting to Rick Floyd, REMN’s managing director of retail sales and will oversee a team of more than 100 people across REMN’s Georgia and Florida branches
MBA: Strong Fourth Quarter Drives 2010 Commercial/Multifamily Mortgage Bankers Originations 36 Percent Above 2009...
San Diego, CA - February 7, 2011 - (RealEstateRama) -- Mortgage bankers originated $110 billion of commercial and multifamily mortgages during 2010 – an increase of 36 percent from 2009, according to preliminary estimates based on the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
MBA: Only 11 Percent of $1.4 trillion of Non-Bank Commercial/Multifamily Mortgage Debt Set to...
San Diego, CA - February 7, 2011 - (RealEstateRama) -- Of the $1.4 trillion balance of outstanding commercial/multifamily mortgages held by non-bank investors, only 11 percent of the total ($155 billion) will mature in 2011, and 9 percent ($125 billion) in 2012 according to today’s release of the Mortgage Bankers Association’s (MBA) 2010 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes. The survey found that maturities vary considerably by the type of investor holding the loan
Quicken Loans’ Thanks a Million Contest Pays Off Client’s Mortgage during a Cleveland Cavaliers...
Cleveland, OH - February 7, 2011 - (RealEstateRama) -- Quicken Loans Inc., the nation’s largest online lender and a top-five retail mortgage lender, paid off a client’s mortgage today as part of its “Thanks a Million” contest. Daniel Carbo of Colchester, Connecticut, received the great news during a center court presentation at this evening’s Cleveland Cavaliers basketball game at Quicken Loans Arena. Two other contenders for the grand prize, Ryan and Tonya Rasnake from Cedar Bluff, Virginia, and Richard and Valerie Purvis from East Haven, Connecticut, each received $5,000 as runners-up in the sweepstakes at tonight’s game.
MBA Comments to FinCEN on Proposal to Expand Suspicious Activity Reports
WASHINGTON, D.C. - February 7, 2011 - (RealEstateRama) -- On Friday, February 4, 2011, the Mortgage Bankers Association, (MBA) submitted the attached comment letter to the Financial Crimes Enforcement Network (FinCEN) in response to FinCEN’s proposal to expand its anti-money laundering programs to help reduce mortgage fraud against lenders through a Suspicious Activity Report (SAR) reporting requirement (Notice of Proposed Rulemaking 1506-AB02).
Wells Fargo/Wachovia, PNC/Midland and Berkadia Lead National Rankings of Commercial/Multifamily Servicing Volumes
San Diego, CA - February 7, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its year-end ranking of commercial and multifamily mortgage servicers as of the end of December 31, 2010. On top of the list of firms is Wells Fargo with $451.1 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $337.4 billion, Berkadia Commercial Mortgage with $194.9 billion, Bank of America Merrill Lynch with $126.6 billion, and KeyBank Real Estate Capital with $118.9 billion
MBA Comments to FinCEN on Proposal to Expand Suspicious Activity Reports
WASHINGTON, D.C. - February 4, 2011 - (RealEstateRama) -- On Friday, February 4, 2011, the Mortgage Bankers Association, (MBA) submitted the attached comment letter to the Financial Crimes Enforcement Network (FinCEN) in response to FinCEN’s proposal to expand its anti-money laundering programs to help reduce mortgage fraud against lenders through a Suspicious Activity Report (SAR) reporting requirement (Notice of Proposed Rulemaking 1506-AB02).
MBA’s Woodwell Testifies on Commercial Real Estate Market
WASHINGTON, D.C. - February 4, 2011 - (RealEstateRama) -- Jamie Woodwell, Vice President of Commercial/Multifamily Research for the Mortgage Bankers Association (MBA), testified today before the Congressional Oversight Panel at a hearing titled, " Commercial Real Estate's Impact on Bank Stability."
Brookwood Man Faces 34-Count Federal Indictment in Mortgage Fraud Scheme
BIRMINGHAM, AL - February 3, 2011 - (RealEstateRama) -- A federal grand jury today indicted a Brookwood man on wire fraud and false statement charges related to a more than $1 million mortgage fraud scheme in the Birmingham area, announced U.S. Attorney Joyce White Vance.
Mortgage Rates Show Mixed Results This Week
McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows mixed results in both long- and short-term rates this week
Freddie Mac Announces 2010 Multifamily Volumes for Whole Loans and Bond Guarantee Business
McLean, VA - February 3, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it had approximately $15 billion in volume for its multifamily whole loan and bond guarantee business (multifamily mortgage settlements), compared to almost $17 billion in 2009. This volume includes Freddie Mac’s targeted affordable housing products, which finance apartments that receive some form of government subsidy.