freddie mac - Articles

Housing Industry Wonders: What Does Mel Watt Want?

APMel Watt: "meeting all day and reading all night." By Margaret Chadbourn The U.S. housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac, and has been frustrated by his silence. The former 11-term congressman from North Carolina, who... Continue Reading »

Mortgage Rates Slip, Edge Closer to Record Low Levels

Tony Dejak/AP WASHINGTON -- Average U.S. rates on fixed mortgages declined this week, edging closer to historically low levels as the spring home-buying season begins. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.34 percent from 4.41 percent last week. The average for the 15-year... Continue Reading »

Group Seeks to Shield Investors in Fannie, Freddie Wind-Down

The Associated PressFannie Mae and Freddie Mac now are required to sweep their entire profits into the U.S. Treasury. By Margaret Chadbourn A new organization called the Coalition for Mortgage Security launched a campaign on Monday calling for winding down Fannie Mae and Freddie Mac in a way that does not harm the... Continue Reading »

Mortgage Rates Move Up a Tick in Latest Survey

Jae C. Hong/AP WASHINGTON -- Average U.S. rates on fixed mortgages rose slightly this week but remained near historically low levels. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan ticked up to 4.41 percent from 4.40 percent last week. The average for the 15-year mortgage increased to... Continue Reading »

Top Democrat's Mortgage Reform: A Lender-Owned Co-op

APRep. Maxine Waters By Margaret Chadbourn The top Democrat on the U.S. House Financial Services Committee on Thursday introduced a draft proposal to abolish Fannie Mae and Freddie Mac and create a new lender-owned cooperative that would issue government-backed loans. Rep. Maxine Waters of California outlined a measure... Continue Reading »

Former FHFA Chief DeMarco Departing the Agency in April

APEdward DeMarco had been acting chief of the FHFA. By Margaret Chadbourn Edward DeMarco, former acting director of the housing regulator that oversees Fannie Mae and Freddie Mac, said on Monday that he would leave the agency at the end of April. DeMarco led the Federal Housing Finance Agency in an acting capacity from... Continue Reading »

Mortgage Rates Edge Back Down in Latest Survey

Chuck Burton/AP WASHINGTON -- Average U.S. rates on fixed mortgages declined last week, edging closer to historically low levels. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.32 percent from 4.37 percent last week. The average for the 15-year mortgage eased to 3.32 percent from 3.38... Continue Reading »

Senate Banking Leaders Outline Plan to Dump Fannie, Freddie

AP By Margaret Chadbourn The leaders of the U.S. Senate Banking Committee on Tuesday outlined plans for legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac that they said would continue to provide access to long-term, fixed-rate mortgages. Committee Chairman Tim Johnson, a Democrat,... Continue Reading »

Mortgage Rates Fall, Reverse Recent Upward Trend

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages fell after three weeks of rises, edging closer to historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan declined to 4.28 percent from 4.37 percent last week. The average for... Continue Reading »

Mortgage Rates Rise as Home Sales Surge

Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages rose for a third straight week as new data showed a surprisingly strong pace of new-home sales last month. Rates still remain near historically low levels. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.37... Continue Reading »

Freddie Mac to Pay Treasury $10.4 Billion on Record Profit

Alamy By Margaret Chadbourn WASHINGTON -- Freddie Mac said Thursday it will soon send the U.S. Treasury a $10.4 billion dividend after posting a ninth straight quarterly profit, putting taxpayers further into the black on their bailout of the mortgage giant. When it makes the payment next month, Freddie Mac will have... Continue Reading »

Mortgage Rates Tick Up After 5 Down Weeks

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- The average U.S. rate on a 30-year fixed mortgage edged up this week to 4.28 percent from 4.23 percent but remains near historically low levels after declining during the five previous weeks. Mortgage buyer Freddie Mac said Thursday that the average for the 15-year... Continue Reading »

Mortgage Rates Slip as Home Prices, Sales Fall

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages slipped this week as new data showed a decline in home prices in November and a drop in new homes sales last month. Mortgage buyer Freddie Mac says the average for the 30-year loan fell to 4.32 percent from 4.39 percent last week.... Continue Reading »

Mortgage Rates Slip a Bit in Latest Week

AP WASHINGTON -- Average U.S. rates for fixed mortgages changed little this week. Mortgage buyer Freddie Mac said Thursday the average for the 30-year loan declined to 4.39 percent from 4.41 percent last week. The average for the 15-year loan slipped to 3.44 percent from 3.45 percent. Mortgage rates have risen about a... Continue Reading »

Average U.S. Rate on 30-Year Loan at 4.41%

AP WASHINGTON -- Average U.S. rates for fixed mortgages declined this week, edging closer to historically low levels. Mortgage buyer Freddie Mac says the average for the 30-year loan fell to 4.41 percent from 4.51 percent last week. The average for the 15-year loan eased to 3.45 percent from 3.56 percent. Mortgage rates... Continue Reading »

Mortgage Rates Slip Just a Bit in Latest Week

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages barely changed this week, hovering near historically low levels. Mortgage buyer Freddie Mac says the average for the 30-year loan slipped to 4.51 percent from 4.53 percent last week. The average for the 15-year loan edged up to... Continue Reading »

Fee Hikes for U.S.-Backed Mortgages Are Put on Hold

AP The U.S. regulator for Fannie Mae and Freddie Mac on Wednesday instructed the two taxpayer-owned mortgage finance companies to delay the increase in fees on government-backed loans that the agency announced last month. Mel Watt, the new director of the Federal Housing Finance Agency, said he would postpone the price... Continue Reading »

Average U.S. Rate on 30-Year Loan Rises to 4.53%

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages edged higher this week for the third straight week but remained low by historical standards. Mortgage buyer Freddie Mac said Thursday that the average for the 30-year loan rose to 4.53 percent from 4.48 percent last week. The... Continue Reading »

Average U.S. 30-Year Mortgage Rises to 4.48%

Matt York/AP 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. The average on the 15-year fixed loan rose to 3.52 percent... Continue Reading »

Mortgage-Fee Hikes Will Be Put on Hold, Mel Watt Says

The Associated Press By Margaret Chadbourn Congressman Mel Watt, the incoming director of the Federal Housing Finance Agency, said he plans to delay the increase in fees on government-backed loans that the agency announced this month. The North Carolina Democrat was nominated by President Barack Obama in May and... Continue Reading »

Average U.S. Rate on 30-year Loan Eases to 4.42%

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages eased slightly this week, remaining near historically low levels. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan declined to 4.42 percent from 4.46 percent last week. The average on the 15-year fixed... Continue Reading »

U.S. Judge Weighs Penalties After BofA Fraud Verdict

Paul Sakuma/AP By Nate Raymond NEW YORK -- A U.S. judge is considering an alternative that could result in Bank of America paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis. At a hearing Thursday, U.S. District Judge Jed Rakoff... Continue Reading »

Average U.S. Rate on 30-Year Loan Rises to 4.46%

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages rose sharply this week, making home-buying slightly less affordable. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year loan jumped to 4.46 percent from 4.29 percent last week. The average on the 15-year fixed... Continue Reading »

BofA to Pay $404 Million to Settle Mortgage Dispute

Chuck Burton/AP By Tanya Agrawal Bank of America said it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009. Bank of America (BAC) will pay $404 million to settle claims related to loans sold to Freddie Mac from Jan. 1, 2000 to Dec.... Continue Reading »

U.S. Average on 30-Year Mortgage Rises to 4.29%

Matt York/AP By CHRISTOPHER S. RUGABER WASHINGTON -- Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent... Continue Reading »

Fannie and Freddie's Mortgage Size Limits Won't Drop in 2014

Alamy By Margaret Chadbourn WASHINGTON -- The maximum size of U.S. home loans that taxpayer-owned Fannie Mae and Freddie Mac can buy will hold steady next year, their regulator said on Tuesday, deferring a decision on when to pull back government support for the housing market. The mortgage financiers will continue to... Continue Reading »

JPMorgan, Gov't Set Terms for $4 Billion Piece of $13 Billion Deal

dapd/AP NEW YORK -- JPMorgan Chase and U.S. government officials have agreed on terms of a $4 billion consumer relief package that is to be part of a $13 billion deal to settle the bank's liability to government agencies over mortgage securities, according to a person familiar with the matter. The $4 billion portion of... Continue Reading »

Average Rate on 30-Year Mortgage Falls to 4.10%

Gregory Bull/AP WASHINGTON -- Average U.S. rates on fixed mortgages fell for the second straight week and are at their lowest levels in four months. Mortgage buyer Freddie Mac says the average rate on the 30-year loan declined to 4.10 percent from 4.13 percent last week. The average on the 15-year fixed loan eased to 3.20... Continue Reading »

Average U.S. Rate on 30-Year Mortgage at 4.13%

Jonathan Alcorn/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages dropped this week to their lowest levels in four months, a positive sign for the housing recovery. Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 4.13 percent. That's down from 4.28 percent. The... Continue Reading »

Bank of America Liable for Countrywide Mortgage Fraud

Joshua Roberts/Bloomberg via Getty ImagesFormer Countrywide executive Rebecca Mairone testifying before Congress in 2010. By Nate Raymond NEW YORK -- Bank of America was found liable for fraud Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials... Continue Reading »

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