freddie mac

Fed Leaving Door Open to Extend Mortgage Backed Security Purchases

by Ryan Hinricher | February 8, 2010

I’ve been curious lately about the end of the Mortgage Backed Security (MBS) purchases by the Federal Reserve in March. The Fed is planning to end the program in less than 60 days on March 31st. Currently they stand at about 94% having purchased 1.17 trillion of the 1.25 trillion allocated to purchase these securities. [...]

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Mortgages & Lending

Fannie Mae/Freddie Mac Put the Noose Around Investors’ Necks with New Lending & Underwriting Policy Changes

by Jeff Brown | December 10, 2009

There comes a point at which reasonable folk take a step back, survey the latest nonsensical trend in lending, and conclude their own rational thought has been the problem all along. We don’t need a rehash of why we’re sittin’ in the economic rubble of a woefully failed economy. Allow me to sum it up [...]

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Economy

Déjà vu All Over Again In The Mortgage World

by Richard Warren | October 12, 2009

FHA Logo3 Where have we seen this before? A major backer of home mortgages may need a bailout. Oh yeah, that was right here. Wasn’t it only a year ago that Fannie Mae and Freddie Mac needed a bailout to save them from themselves? They had so many bad loans on the books because of lax rules and loose oversight.

Now it seems that the Federal Housing Administration (FHA) is in trouble. According to an article in the New York Times (article) 20% of loans insured last year and another 24% of those from 2007, are in serious trouble.

Didn’t They Learn?

Banks all across the country have tightened lending standards requiring that the borrowers actually have the ability to repay. Imagine that! It seems that just throwing money at anyone who can fog a mirror is not good business. While people complain about how tough it is to get a loan now, they are better off in the long term.

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Foreclosures

Top 20 tips for making offers on Freddie Mac/Home Steps REO properties

by Winston Westbrook | October 5, 2009

In today’s challenging real estate market where 30 offers on homes out here in Victorville, CA is the norm, (and I’m sure the same applies all over the United States) we need every little bit of information to help our offers stand out from the crowd.

I have made countless offers on REO properties including Freddie Mac deals, and these tips reflect my experience in dealing with them. These are the things that Freddie Mac always counters with and always wants flat out.

When making an offer to purchase a Freddie Mac or Home Steps owned property you should try and follow these guidelines to help your offer stand out from the crowd and help you save a day or two in negotiations with them.

The Top 20 Tips for Making offers on Freddie Mac, Home steps or FHLMC Properties

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Real Estate News

The U.S. Run Housing Market: The Nation’s New Landlord

by Charles Feldman | September 16, 2009

Worried about government run health insurance? Maybe you should be more concerned about the government run housing market!

government owned mortgages real estate For those of you who have lost track of where all our taxpayer dollars have gone as we bailout banks, brokerage houses, car companies, insurance companies…etc—-this sobering statistic courtesy of the New York Times may be a needed splash of chilled water on the face: “The government is financing 9 out of 10 new mortgages in the United States.”

That bears repeating……”The government (as in U.S.) is financing 9 out of 10 new mortgages in the United States.”

According to the Times account, ” Fannie (Mae) and Freddie (Mac) now buy or guarantee almost two-thirds of all new mortgages. The Federal Housing Administration guarantees another 25 percent.”

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Commentary

Newspeak or Bankspeak?

by Ted Karsch | September 16, 2008

The parallel I find most striking between the language used by financial executives and the language used by the fascists in 1984 are what Orwell referred to as “Newspeak”.

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Foreclosures

Feds Will Not Freeze Foreclosures

by Rob K. Blake | September 14, 2008

Now that the government controls the GSEs (Fannie Mae and Freddie Mac with their $6 Trillion dollar mortgage portfolios, they could freeze all foreclosure actions dead in their tracks. That is exactly what a group of Senators including Bob Casey, Charles Schemer, Robert Menendez, and Sherrod Brown asked the new GSE conservator, FHFA Chief, James [...]

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Commentary

2008 Election and the Implications on Housing and the Fannie/Freddie Bailout

by Tom Koziol | September 12, 2008

This is an election year. That may seem like a tremendous grasp of the obvious but I wish to ask you to look behind that statement so you can see what is happening right in front of your eyes. What I am really interested in is the Freddie/Fannie bailout. My God, the impact is almost [...]

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Commentary

Impact of the Imminent Failure of Freddie Mac and Fannie Mae and the Decline in Availability of Rental Properties on Apartment Building Investors

by Ted Karsch | August 26, 2008

The imminent failure of both Freddie Mac and Fannie Mae has already begun to have a detrimental impact on the larger US economy and the ability of home buyers to finance the purchase of a new home. This is an unfortunate circumstance for many young families who may not be able to qualify for a [...]

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Credit

BREAKING: IndyMac Bank is Shut Down and Taken Over by Feds

by Joshua Dorkin | July 11, 2008

INDYMAC IS OFFICALLY CLOSED!!! In the past minutes newswires around the country and world are now reporting that the Federal Government has shut down IndyMac Bank and has handed it to the FDIC (Federal Deposit Insurance Corp.) as conservator. Couple the shut down with the Fannie Mae/Freddie Mac troubles, and we’re in for some really [...]

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Housing

Fannie Mae & Freddie Mac: What Will The Feds Do?

by Charles Feldman | July 11, 2008

Fannie Mae and Freddie Mac, combined, own or back up some $5 trillion dollars of debt. That is about half of ALL the mortgages in the U.S. They have already lost some $11 BILLION since the current mortgage/credit crisis began, so it is easy to see why there is profound concern about their fiscal health–or [...]

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