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Articles tagged with: Fannie Mae

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[26 May 2012 | No Comment | 4,673 views]
HARP 2.0. giving refinancing a boost

Back in November, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced new guidelines for the Home Affordable Refinance Program (HARP).
Why? The original HARP program – which was set up close to three years ago to help home owners refinance their mortgages – wasn’t as effective as hoped. Less than 1 million home owners benefitted from the original HARP and that had a lot to do with declining property values in a lot of markets. The original program required home owners wanting to refinance to owe no more …

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[16 Jan 2012 | 4 Comments | 6,234 views]
Freddie Mac rolls out program for the unemployed

Here’s a newsflash – unemployment remains a concern.
In Arkansas, the unemployment rate was 8.2 percent in November – that’s down from 9.3 percent, but is still high for Arkansas. What that number means is that 106,500 people in the Natural State want jobs but don’t have them. That’s a large number, roughly equal to the population of Saline County.
That’s a major problem for the economy for the economy for a number of reasons, but we’ll just deal with one since this column focuses on real estate issues – how can …

Business, Columns and other comments, Features and such, News, Real Estate »

[27 Nov 2011 | No Comment | 2,553 views]
Geting ready for ‘HARP 2.0′

On Nov. 15, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced new guidelines for to the Home Affordable Refinance Program (HARP) in hopes of helping more struggling homeowners take advantage of lower interest rates and secure affordable mortgage payments.
The so-called “HARP 2.0” is an extension and expansion of the program that is a little over two years old and hasn’t helped as many home owners as expected. Indeed, HARP has helped less than 1 million homeowners since it was launched and that, in large part, is due …

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[22 Jun 2011 | No Comment | 2,555 views]
Fannie, Freddie healthier and that’s good news

Fannie Mae and Freddie Mac – the two government sponsored enterprises (GSE) that have been operating under federal control since 2008 – are losing less money and that’s good news for people wanting to see those two entities continue operating.
The GSEs, of course, are major players in the secondary mortgage market. Fannie Mae and Freddie Mac, in essence, buy mortgages from originators, bundle them together and sell them as mortgage-backed securities. Their role is, in essence, to keep credit flowing so that loan originators can keep writing mortgages.
Ideally, lenders free …

Business, Columns and other comments, Features and such, News, Real Estate »

[9 Apr 2011 | One Comment | 3,016 views]
Housing reform efforts get even more confusing

Get ready – this year will prove to be an interesting one for people who are wondering what, exactly, mortgage reform will look like.
Yes, we all know mortgage reform is coming. That was a foregone conclusion when the subprime mortgage industry tanked a few years ago and high foreclosure rates started to plague housing markets around the nation.
People started to question the underwriting standards that allegedly gave rise to so many mortgages that went so wrong and people started to wonder what could be done to prevent the issuance of …

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[2 Apr 2011 | One Comment | 2,616 views]
Mortgage bankers call for system built on private capital, limited government role

Anyone who has kept an eye on the housing market over the past few years knows that reform is coming.
The question, of course, is what will that reform look like?
We got a hint back in February when President Barack Obama’s administration released a plan that, if adopted, would phase out Fannie Mae and Freddie Mac in five to 10 years. While some critics have said that particular plan would make it more difficult for some Americans to take out mortgages, here are a couple of facts that are hard to …

Business, News, Real Estate »

[21 Feb 2011 | One Comment | 1,519 views]
Letting the market work

After months of anticipation, the Barack Obama administration released a plan to reform the secondary mortgage market that is decidedly capitalist in approach.
Yes, the Obama administration has proposed putting together a secondary mortgage market that is primarily financed by private capital. That’s a bit of a departure from what we’ve had for the past few decades and is well worth discussing.
Here’s a fact to consider – over the past couple of decades, taxpayers have been tapped for over $500 billion to cover the government’s losses following one plan after another …

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[18 Dec 2010 | 2 Comments | 1,696 views]
Taking a hard look at residential mortgage servicing

The national Mortgage Bankers Association announced this month that it had launched a task force to examine residential mortgage servicing and make recommendations geared toward improving the system.
Why should you care? Because mortgage servicing has a major impact on everything from how much your mortgage payment is to the overall economy. Mortgage servicers have, in fact, been blamed by Fannie Mae and Freddie Mac for the so-called “robo-signing” controversy that led to all those questions about whether foreclosures were being done legally.
Anyone who has taken out a mortgage at one …

Commentary, Politics »

[5 Dec 2010 | 8 Comments | 3,978 views]
The latest confusing foreclosure news

Trying to keep up with what’s happening with foreclosures around the nation is confusing, indeed.
At the end of November, Fannie Mae and Freddie Mac – the government-sponsored enterprises which underwrite the bulk of mortgages in the United States – told real estate agents to resume with sales of foreclosed properties. That was a significant announcement as Fannie and Freddie had about 240,000 properties set for foreclosure at the end of September.
Concerns over the adequacy of paperwork filed in foreclosure actions, however, caused Fannie and Freddie to order a halt to …

Business, News, Real Estate »

[30 Nov 2010 | 9 Comments | 4,086 views]
Fannie Mae, Freddie Mac give green light to foreclosures

To muddle the foreclosure issue just a bit further, Fannie Mae and Freddie Mac told real estate agents last week to resume selling foreclosed properties.
Why’s that significant? Fannie Mae and Freddie Mac — the government sponsored enterprises (GSE) that have underwritten the majority of mortgages in the nation — had about 240,000 properties set for foreclosure at the end of September. It was about that time that Fannie and Freddie called for a moratorium on foreclosures due to concerns about the adequacy of court filings.
We’re talking about the so-called “robo-signing” …