Freddie Mac
Freddie Mac Names Deborah Jenkins Head of Multifamily Underwriting and Credit
McLean, VA - July 26, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today announced the appointment of Deborah Jenkins to vice president and national head of Multifamily Underwriting and Credit. In this position, Jenkins is responsible for managing the underwriting and credit approvals of all Multifamily debt investments for Freddie Mac, and managing the underwriting and credit staff at Freddie Mac offices across the country.
30-Year, 15-Year Fixed Mortgage Rates at Record Lows
McLean, VA - July 22, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey. (The 30-year fixed-rate survey began in 1971, and the 15-year began in 1991.)
Freddie Mac, New Vista, REDC to Auction 135 Homes on August 7 in Phoenix...
McLean, VA - July 16, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC), real estate auction specialist REDC, and New Vista today announced plans to auction 135 HomeSteps® REO homes to individual homebuyers at the Phoenix Convention Center on August 7, 2010. Almost a third of the homes are being set-aside for an auction to first-time borrowers participating in the federal Neighborhood Stabilization Program (NSP)
Mortgage Rates Stable This Week
McLean, VA - July 16, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®)
Freddie Mac Announces $1 Billion Reopening of 2.875% Five-Year Reference Notes® Security
McLean, VA - July 14, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it plans to launch a $1 billion reopening of its 2.875% five-year USD Reference Notes® security that matures on February 9, 2015. The issue will price today, Wednesday, July 14, 2010, and will settle on Thursday, July 15, 2010.
30-Year Fixed Rate Mortgage Drops Slightly to Create Another New Low
McLean, VA - July 8, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 8, 2010, down from last week when it averaged 4.58 percent. Last year at this time, the 30-year FRM averaged 5.20 percent. This rate is yet another all-time low in Freddie Mac’s 39-year survey
Once Again All Rates But 1-Year ARM Hit Yet Another Record Low
McLean, VA - July 1, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.58 percent with an average 0.7 point for the week ending July 1, 2010, down from last week when it averaged 4.69 percent. Last year at this time, the 30-year FRM averaged 5.32 percent
Freddie Mac Issues Monthly Volume Summary for May 2010
McLean, VA - June 25, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today issued the company's Monthly Volume Summary for May 2010. The summary, available on the company's Web site at www.FreddieMac.com/investors/volsum, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.
All Rates But 1-Year ARM Hit Record Lows In Freddie Mac Weekly Survey
McLean, VA - June 24, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.69 percent with an average 0.7 point for the week ending June 24, 2010, down from last week when it averaged 4.75 percent. Last year at this time, the 30-year FRM averaged 5.42 percent
Freddie Mac Will Not Issue a Reference Notes Security on June 24, 2010
McLean, VA - June 24, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announced today that it will not issue a Reference Notes® security on June 24, 2010. The company’s 2010 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities.
Freddie Mac Helps Keep 332 Apartment Units Affordable Under Federal New Issue Bond Program
McLean, VA - June 23, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announces credit enhancements of more than $31 million in bonds issued by two housing finance agencies (HFAs) using the Obama Administration's New Issue Bond Program (NIBP) that support the development or renovation of affordable multifamily properties. Working with Freddie Mac, Prudential Mortgage Capital Company originated the only multifamily mortgages to date under NIBP for a property in Newnan, Georgia, and three properties in Washington, D.C., thus keeping 332 apartments affordable to low-income tenants.
Freddie Mac Announces Forbearances For Borrowers With Single Family Homes Affected By Problem Drywall
McLean, VA - June 21, 2010 - (RealEstateRama) -- Freddie Mac today announced that servicers may grant forbearances on a case-by-case basis to borrowers with Freddie Mac-owned mortgages secured by single family homes that contain problem drywall. Freddie Mac is one of the nation’s largest investors in residential mortgages.
Freddie Mac Announces Relief for Gulf Coast Borrowers Affected By Oil Spill
McLean, VA - June 18, 2010 - (RealEstateRama) -- Freddie Mac today announced that servicers may grant relief to Gulf Coast borrowers unable to pay their loans because of the current oil spill’s impact on their incomes. Freddie Mac is one of the nation’s largest investors in residential mortgages.
Little Change Seen in Mortgage Rates This Week
McLean, VA - June 17, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.75 percent with an average 0.7 point for the week ending June 17, 2010, up from last week when it averaged 4.72 percent. Last year at this time, the 30-year FRM averaged 5.38 percent.
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Washington, DC - June 16, 2010 - (RealEstateRama) -- Business Solutions, an affiliate of the American Bankers Association, and Freddie Mac today announced plans to help community banks compete in the purchase money mortgage market and help fuel the nation's housing recovery by extending their 8-year old alliance
Freddie Mac Notifies NYSE of Intention to Delist
McLean, VA - June 16, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today announced that the company has notified the New York Stock Exchange (NYSE) of its intent to delist its common stock and the 20 listed classes of its preferred stock. This notice was made pursuant to a directive by the Federal Housing Finance Agency (FHFA), Freddie Mac's conservator, requiring Freddie Mac to delist its common and preferred securities from the NYSE. According to a press release by FHFA, the Acting Director of FHFA issued similar directives to both Freddie Mac and Fannie Mae.
Mortgage Rates Remain Historically Low
McLean, VA - June 14, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.72 percent with an average 0.7 point for the week ending June 10, 2010, down from last week when it averaged 4.79 percent. Last year at this time, the 30-year FRM averaged 5.59 percent.
Freddie Mac Announces New Offering of Guaranteed Structured Pass-Through K Certificates
McLean, VA - June 7, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today announced a new offering of Structured Pass-Through Certificates (“K Certificates”), multifamily mortgage-backed securities that help provide liquidity, stability and affordability to the nation’s multifamily housing market. The company expects to offer approximately $1 billion in K Certificates (“K-007 Certificates”), which are expected to price on or about June 11, 2010, and settle on or about June 24, 2010.
Long- and Short-Term Rates Nearly Unchanged From Last Week
McLean, VA - June 3, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.79 percent with an average 0.8 point for the week ending June 3, 2010, up slightly from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.
Freddie Mac Adds Multifamily Seniors and Conventional Structured Transactions to Securitization Path
McLean, VA - June 2, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) is making more financing products eligible for its multifamily Capital Markets ExecutionSM (CME). Seniors housing mortgages and conventional structured finance transactions are now eligible for securitization into K Certificates, multifamily mortgage-backed securities.
Instability in Financial Markets Overseas Lowers Mortgage Rates Here
McLean, VA - May 27, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending May 27, 2010, down from last week when it averaged 4.84 percent. Last year at this time, the 30-year FRM averaged 4.91 percent. The 30-year FRM has not been lower since the week ending December 3, 2009, when it averaged 4.71 percent.
Freddie Mac Prices New $6 Billion Two-Year Reference Notes Security
McLean, VA - May 27, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announced today that it priced its new 1.125% $6 billion two-year Reference Notes® security due on July 27, 2012. The issue, CUSIP number 3137EACK3, was priced at 99.918 to yield 1.163%, or 29 basis points more than two-year U.S. Treasury Notes. The issue will settle on Friday May 28, 2010
U. S. Home Prices Declined 1.1 Percent Over Last Four Quarters
McLean, VA - May 27, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announced today that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series for the United States registered a 1.1 percent decline from the first quarter of 2009 to the first quarter of 2010. In the first quarter of 2010, the U.S. Index was down 2.1 percent (-8.0 percent annualized) relative to the fourth quarter, on a not-seasonally adjusted basis
Freddie Mac Announces the Issuance of a New Two-Year Reference Notes Security
McLean, VA – Freddie Mac (NYSE: FRE) announced today that it plans to issue a new two-year USD Reference Notes® security, CUSIP number 3137EACK3, due on July 27, 2012. The issue will be priced on Thursday, May 27, 2010, and will settle on Friday May 28, 2010, at benchmark size
Freddie Mac Issues Monthly Volume Summary for April 2010
McLean, VA - May 25, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today issued the company's Monthly Volume Summary for April 2010. The summary, available on the company's Web site at www.FreddieMac.com/investors/volsum, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.
Freddie Mac Names Mike McRoberts Head of Multifamily Production and Sales
McLean, VA - May 25, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today announced the appointment of Mike McRoberts as vice president of Multifamily Production and Sales. In this position, McRoberts is responsible for the origination and purchase of conventional multifamily loans nationwide, the Program Plus® Seller/Servicer network and the four multifamily regional sales offices.
Freddie Mac Hails FHFA Announcement of Uniform Mortgage Data Program
McLean, VA - May 24, 2010 - (RealEstateRama) -- Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr. made the following statement in response to the Federal Housing Finance Agency's (FHFA) announcement of the Uniform Mortgage Data Program
Long- and Short-Term Mortgage Rates Fall Again This Week
McLean, VA - May 20, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 4.82 percent. Once again, the 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent
Mortgage Rates at Lowest Level of the Year
McLean, VA - May 13, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending May 13, 2010, down from last week when it averaged 5.00 percent. Last year at this time, the 30-year FRM averaged 4.86 percent. The 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent
Fixed-Rate Mortgages Dominant Among Refinancing Homeowners
McLean, VA - May 12, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) announced today that in the first quarter of 2010, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate, according to Freddie Mac's quarterly Product Transition Report. While 30-year fixed-rate mortgages are still the most preferred product chosen for the new loan, 15-year fixed-rate mortgages gained favor among refinancers who previously held 30-year fixed-rate mortgages, balloon mortgages and ARMs. Overall, fixed-rate loans accounted for more than 95 percent of refinance loans during the quarter.