Freddie Mac
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Freddie To Tighten Belt on Subprime Loan Purchases
Feb 27, 2007Freddie Mac (NYSE:FRE) today announced that it will cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure. The GSE said it will only buy subprime adjustable-rate mortgages — and mortgage-related securities backed by these subprime loans — that qualify borrowers at the fully-indexed and fully-amortizing rate. Freddie also said it will limit the use of low-documentation underwriting for these types of mortgages, in an effort to help ensure that future borrowers have the income necessary to afford their homes. In addition, the GSE said it will strongly recommend that mortgage lenders collect escrow accounts for borrowers’ taxes and insurance payments.
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Freddie Mac Recognizes Top Default Servicers
Feb 22, 2007 -
Fannie, Freddie Roll Out Joint Docs
Feb 21, 2007 -
Fed’s Poole: No Guarantee of Government Bailout if GSEs Fail
Jan 19, 2007 -
MBA Identifies Legislative Agenda for 2007
Jan 18, 2007 -
Freddie Reports Q3 Loss of $550 Million; Expects Loss for Q4
Jan 05, 2007 -
ARM Share Declines During 2006, Teaser Discounts Highest in Eight Years
Jan 03, 2007 -
OFHEO: Fannie Significantly Undercapitalized During 2002, 2003
Dec 28, 2006 -
GSEs See Portfolios Shrink; Fannie Nears Record Low
Dec 22, 2006 -
Study: Mortgage Points Typically Don’t Pay Off
Dec 22, 2006 -
Cost of subprime borrowing could go even higher
Dec 20, 2006 -
GSEs Required to Follow Nontraditional Mortgage Risk Guidance
Dec 15, 2006
